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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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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.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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