Cryptocurrency Markets: On Friday, Bitcoin (BTC) rallied, returning above $40,000 for the first time in two weeks, while Ethereum (ETH) approached $3,000.
Other coins in the top 10 are up 5%-13% in one day.
After closing above $37,000, bitcoin price continued its rally. BTC broke the resistance at $37,800 and even surpassed $38,000. The next major resistance is near $38,500, above which a pullback to the $39,200 resistance level is possible. Each additional win can add up to $40,000.
As of 17:00 UTC, BTC is trading at $40,426 and is up almost 10% in a day and 9% in a week. ETH is up 12% to surpass $2,950. It also rose 22% in one week.
Ethereum price started a strong climb above the $2,700 level. ETH outperformed BTC and gained 8%. There was a clear move above the $2,800 resistance. The next key resistance is near $2,880, above which a rally to $3,000 is possible.
The initial support is near the $2,780 level. The next major support is at $2,750, where the price could test $2,700.
Cardano (ADA) forming a base above the $1.05 level. The first key resistance stands at $1.08 but the key hurdle remains at $1.10. A close above $1.10 could trigger a stronger rally.
Binance Coin (BNB) is moving higher towards the $380 resistance level. The next key resistance is at $388. A clear move above $388 is a must to test the $400 resistance. Conversely, it can drop back to the $355 support.
Solana (SOL) has started another rally above the $100 resistance. It is up more than 8% and is trading above $105. The next major resistance is near the $112 level, where the bears could take a stand.
DOGE is moving higher towards the $0.145 resistance level. The main resistance is near $0.150, above which a rally to $0.168 is possible. On the downside, the $0.135 level is a key support.
XRP price is moving higher towards the $0.632 resistance level. If the bulls remain active, a rally to $0.65 is possible. Conversely, it might return to the $0.60 support area in the short-term.
Many altcoins are up more than 5%, including LUNA, DOT, MATIC, CRO, ATOM, AVAX, LTC, LINK, NEAR, TRX, FTT, FTM, HBAR, and ETC. Of these, HBAR is up 12% and trading above $0.24, bringing its weekly gain to almost 17%. AVAX is up nearly 8% to surpass $71. It also rose 10% in one week.
To sum up, bitcoin price is showing resilience above the $37,000 level. If BTC settles above $38,000, it can rally to the $40,000 resistance in the short term.
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