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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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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.