Crypto Market February 15, 2022: Bitcoin Recovers as Altcoins Skyrocket
Crypto Market Feb 15, 2022: Bitcoin price finds strong buying power above $41,500. As a result, BTC has started a steady rise above the $42,500 resistance area.
At 04:13 UTC, BTC is trading above $43,600. It rose nearly 4% in one day, recouping almost all of its weekly losses.
Similarly, most of the major altcoins are steadily rising. ETH managed to bounce above the $3,000 resistance area and is now up almost 6% in one day, reducing its weekly loss to less than 4%. XRP is trading above the $0.820 pivot level. ADA is up almost 5% and testing the $1.08 resistance.
Crypto Market February 15, 2022: Bitcoin Price
After a sharp decline, bitcoin price BTC formed a base near $41,500 and started a fresh increase above the $42,500 resistance. It even crossed the $43,500 line to move into a positive zone. On the upside, initial resistance is near $43,800. The next resistance is near $44,000, above which the price might gain bullish momentum.
On the upside, the immediate support is near the $43,200 level. The next key support is near $42,500, below which the price might struggle in the short-term.
Crypto Market February 15, 2022: Ethereum price
Ethereum price also followed bitcoin and rallied above the $2,950 resistance. ETH even climbed above $3,000 to enter the positive zone. It is currently facing resistance near $3,050. The next key resistance could be near the $3,120 region.
If there is another bearish wave, the price can find support near $2,950. Next major support is $2,850, below that a drop to $2,750 is possible.
Crypto Market February 15, 2022: ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) remained stable above the $1.00 support and rallied above $1.05. The bulls pushed the price towards $1.08, cutting its weekly loss to 10%.
Binance Coin (BNB) scaled above the $400 and $405 resistance levels and also recovered above $412. Further gains could require a move above $420.
Solana (SOL) is up nearly 9% and has a notable move above the $100 level. Immediate resistance is near $105. The main barrier remains at $112, above which the bulls can gather strength.
DOGE is still struggling below the $0.155 resistance. If there is a clear bullish breakout, a rally to $0.165 is possible. On the upside, $0.142 is the key support.
XRP price is consolidating above the $0.820 support. On the upside, $0.85 is a major resistance. A break above $0.85 could open the door for a rally to $0.92 or even $1.00.
Crypto Market February 15, 2022: Another altcoin market
Many altcoins are up more than 5%, including LUNA, AVAX, DOT, SHIB, MATIC, ATOM, LINK, UNI, NEAR, FTT, ALGO, and MANA. Of these, AVAX is up more than 9% and is trading above $84 after erasing all weekly losses.
Overall, bitcoin price is recovering above $43,500. If BTC breaks $44,000, it can rally towards the $45,500 resistance area in the short term.
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