Bitcoin Back Above USD 20K, Ethereum Recovers, MATIC Surges

  • Bitcoin is correcting losses and approaching USD 20,500.
  • Ethereum moved back above USD 1,100, XRP is still near USD 0.32.
  • MATIC rallied over 19%, multiple altcoins are up in double-digits too.

After bitcoin price extended losses and traded below the USD 19,200 level yesterday, BTC remained supported near the USD 19,000 zone and managed to get back above USD 20,000. It is currently (04:17 UTC) trading near USD 20,200 and is up almost 4% in a day and still down less than 2% in a week.

Similarly, most major altcoins are also moving higher. ETH traded above the USD 1,080 resistance and tested USD 1,120. XRP is still consolidating near USD 0.32. 

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside break below USD 19,500, bitcoin price extended its losses. A base was formed near USD 19,000 and the price started a recovery wave. BTC even moved above USD 20,000 and now faces a major hurdle at USD 20,500. The next major resistance could be USD 21,200.

On the downside, an initial support is near the USD 20,000 level. The next major support is near the USD 19,500 zone, below which the price could resume its decline.

Ethereum price

Ethereum price traded close to the USD 1,000 support before there was a recovery wave. ETH even broke the USD 1,100 level and now faces hurdles at USD 1,120. The price is up over 5% in a day and down 6% in a week. The next major resistance is at USD 1,150, above which the price could test USD 1,200

On the downside, the price might find support near USD 1,050. The next major support is near USD 1,000, below which the price could visit the USD 950 support zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) declined below the USD 0.42 support zone. It even spiked below the USD 0.412 support zone. However, the bulls were active near USD 0.40 and the price climbed back above USD 0.42.

BNB extended decline below the USD 220 support zone. The price tested USD 215 and started a recovery wave. It is back above USD 230 and might attempt a move above USD 235.

Solana (SOL) tested the USD 32 support level. The bulls were active near USD 32 and the price recovered above USD 34. If there is a move above USD 35, the price could rise towards USD 38.

DOGE dived below the USD 0.060 support level. It even tested the USD 0.0575 zone before there was a recovery wave. The price is back above USD 0.060 and is facing resistance near USD 0.062.

XRP price is still consolidating near the USD 0.32 level. The first major resistance is near the USD 0.332 level, above which the price could rise towards USD 0.35.

Other altcoins market today

Many altcoins are moving higher, including AVAX, MATIC, UNI, FTT, CRO, ALGO, ETC, ICP, SAND, APE, and HBAR. Out of these, MATIC rallied over 19% and surged above the USD 0.64 level, increasing its weekly gains to 23%. Meanwhile, CEL crashed as Celsius said it has initiated voluntary Chapter 11 proceedings in the US.

Overall, bitcoin price is moving higher above the USD 20,000 level. However, BTC must surpass USD 20,500 and USD 21,200 to start a steady recovery wave.

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