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.
The Dogecoin price has reached a five-month high, and investors should buy the Ethereum token…
Crypto isn’t just for the tech-savvy anymore; it’s for everyone. As more people jump into…
Wilmington, Delaware, 7th November 2024, Chainwire
Read how Plus Wallet’s top-tier ensures secure, unified digital asset management. Get the latest updates…
Former Alameda CEO Caroline Ellison reported to a Connecticut federal prison on November 7 after…
Degen Rollup Key Issue: Conduit seized Degen’s L3 private key, causing 54 hours of downtime…
This website uses cookies.