Crypto Markets February 10th, 2022: Bitcoin and Ethereum Rise Steady but Get stuck in a Range
Crypto Markets February 10, 2022: Bitcoin price attempted to rally above $44,500 but failed to move higher. At 04:18 UTC, BTC was trading in a critical range near $43,900.
Similarly, most major altcoins are also trading in a range. ETH is stuck between $3,050 and $3,250. XRP is facing strong resistance near $0.90 and $0.92. ADA consolidates above $1.15.
Cryptocurrency Market February 10, 2022: Bitcoin Price
After a short term drop, bitcoin price found support near $42,750. BTC is currently recovering and trading near $43,900. On the upside, initial resistance is near $44,000. The next major resistance is near $44,500, above which the bulls can aim a clear move towards $45,500.
On the upside, the immediate support is near the $43,200 level. The next key support is $42,750, below that a drop to $42,000 is possible.
Cryptocurrency market February 10, 2022: Ethereum price
Ethereum price accelerated above the $3,200 level. ETH even surged above the $3,250 level but there was no continuation of the uptrend and the price fell below $3,200. Next major support is $3,120, below which a retest of $3,050 is possible.
If there is another rally, the price might face resistance near $3,250. The next key resistance could be near the $3,350 or $3,420 region.
Cryptocurrency Market February 10, 2022: ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) is rising and trading above $1,175. Immediate resistance stands at $0.188. The main resistance remains at $1.20, above which the bulls can gather strength.
Binance Coin (BNB) is still trading below $420. If the bears remain active, it can test the $405 level. Key breakout support remains at $400, below there is a risk of a larger decline.
Solana (SOL) is stuck in a range near the $110 level. The next key support level is at $105. If there is a fresh increase, the bulls need to clear $120 to resume the upside in the near term.
DOGE holds gains near $0.150 level. It is currently facing resistance near the $0.168 and $0.175 levels. A clear break to the upside could propel the price towards $0.200 in the short-term.
XRP price made one more attempt to clear the $0.920 resistance but it failed. There has been a downside correction but the price remains well supported near $0.85. If there are no more losses, the price might try to rally to $1 one more time.
Cryptocurrency Market February 10, 2022: Other Altcoin Markets
Several altcoins are up more than 5%, including CRO, ETC, EGLD, HNT, FLOW, STX, NEO, KDA, CHZ, AR, WAVES, and SCRT. Of these, ETC managed to scale above the $35 resistance and is now up almost 11% in a day and over 34% in a week. Meanwhile, FLOW is up 12%, breaking through the $8 mark and posting weekly gains to 31%.
Overall, bitcoin price stabilized above $43,000 and $42,750. If BTC settles above $44,000, it could strengthen in the coming sessions.
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