Cryptocurrency Market February 25, 2022: Bitcoin and Ethereum Both Gain, Altcoins Reduce Losses

Cryptocurrency Market February 25, 2022: After testing $34,500 yesterday, bitcoin price surged 12% and at 04:18 UTC BTC was trading above $38,900.

Likewise, most major altcoins saw losses. ETH surged 11% and broke the $2,600 resistance. XRP is currently trying to close above $0.70. ADA tested $0.75 and surged above $0.85.

Cryptocurrency Market February 25, 2022: Bitcoin Price

After a sharp decline, bitcoin price found support near the $34,500 region. BTC formed a base above $35,000 and started a major rally above the $38,000 resistance level. On the upside, the price is facing resistance near $39,500. The next key resistance is near the $40,000 level, above which the price might gain bullish momentum.

If there is a downside correction, the price can test the $38,500 support. The next key support is near the $37,500 level, below which BTC can drop to $36,200.

Cryptocurrency market February 25, 2022: Ethereum price

Ethereum price also followed a similar path and started a fresh increase from the $2,300 region. ETH surged above $2,600 and it is currently facing resistance near $2,650. The next key resistance is near the $2,750 zone, above which the price can test $2,880.

Otherwise, it may correct down towards the $2,550 support. The next key support is near the $2,500 zone, below which the price can test $2,420.

Cryptocurrency market February 25, 2022: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) fell sharply and tested the $0.75 support. It is currently adjusting losses and trading above $0.80. There was a move above $0.85, but the bears might remain active near $0.90.

BNB has recovered above the $350 level. It is currently attempting a breakout above the $365 resistance level. If there is clear movement, a rally to $388 is possible.

Solana (SOL) is up 16% and it is trading above the $85 resistance level. The next major resistance is near the $95 level, above which the bulls can test the $100 level.

DOGE dropped to $0.105 before starting a recovery wave. The price is currently consolidating above the $0.120 level. On the upside, the bulls might face resistance near $0.125.

XRP price surged and tested the $0.62 support. The price is currently recovering and it is trading near $0.70. A close above $0.70 could set the pace for more gains.

Cryptocurrency Market February 25, 2022: Another altcoin market

Many altcoins are up more than 10%, including LUNA, MATIC, CRO, WBTC, FTT, BCH, UNI, MANA, HBAR, SAND, XTZ, and HNT. Of these, LUNA is up 22% and is trading above $65, bringing its weekly gain up 34%.

Overall, bitcoin price is gaining momentum and trading above $38,000. If BTC hits $40,000, it could move into an upside zone.

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