Cryptocurrency market February 7, 2022: Bitcoin price started to rise sharply and broke the $40,000 resistance level. BTC even broke the $42,000 resistance. As of 04:21 UTC, BTC is showing positive signs and is trading above $42,800 after gaining 3% in a day and 13% in a week.
Similarly, most of the major altcoins are steadily increasing. ETH managed to settle above the $3,000 resistance level. XRP climbed above the $0.70 resistance level. ADA is trading above the $0.150 pivot level.
After forming a base, bitcoin price was able to climb above the $40,000 resistance. BTC bulls took control and pushed the price above $41,500. The price even rose to over $42,500. The next major resistance is near $43,000, above which a move up towards $44,500 is possible.
On the downside, immediate support is near $42,000. The key weekly support is now forming near the $40,000 level, below which the price might start another decline.
Ethereum price has followed a bullish path above the $2,880 resistance level. ETH broke the $3,000 level and accelerated higher, up 2% in a day and almost 18% in a week. It is currently facing resistance near $3,080. The next key resistance is $3,120, above which the bulls can move towards $3,350.
The initial support is near the $3,000 level. The next major support is $2,880 with a possibility of a drop to $2,600.
Cardano (ADA) managed to break the critical $1,150 resistance area. It looks like the price could even go as high as $1,188. Further gains could lead the price towards the $1.20 resistance area.
Binance Coin (BNB) broke the key USD 400 resistance. It is currently consolidating above the $420 level. If the bulls remain active, the price can rally to the $445 and $450 resistance levels.
Solana (SOL) scaled above the $112 resistance and it is on the verge of reaching the $120 level. If there is a break above $120, a rally to $125 and $132 is possible.
DOGE is gaining momentum above the $0.155 resistance, up 7% in one day and 13% in one week. The next key resistance is near the $0.162 level. If there is a downside correction, the price might find support near $0.150.
XRP price is up 8% in one day and has moved well above $0.70. The next major resistance is near $0.750, above which a rally to $0.80 is possible.
Many altcoins are up more than 5%, including SHIB, MANA, LEO, AXS, THETA, ONE, FLOW, GRT, KSM, LRC, CHZ, and TFUEL. Of these, SHIB is up 25% to surpass $0.000028, up almost 34% in a week.
Overall, bitcoin price is gaining bullish momentum above $42,500. If bulls remain active, BTC can surge to $45,000.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Important NOTE: All content on the website is for informational purposes only and in no way constitutes investment advice. Your money, the choice is yours.
Discover the best altcoins to buy ahead of December 2024. Learn why Qubetics, Arbitrum, and…
Discover how BlockDAG is moving towards a $600M goal amidst Ethereum’s price challenges and Cardano’s…
Discover the best altcoins to buy ahead of December 2024. Qubetics presale skyrockets, Celestia gains…
Explore how a Miami trucker turned $15K into $94M through Solana, and his next focus…
Diversifying with distinctive altcoins can enhance investment strategies for those seeking growth beyond mainstream options.
XYZVerse steps into the spotlight as the pioneering all-sport memecoin, uniting fans across sports and…
This website uses cookies.