Bitcoin and Ethereum Still Rangebound, ATOM and QNT Rally
Bitcoin price started a downside correction below the USD 38,000 level. BTC even traded below USD 36,500, but there was no test of USD 36,000. It is currently (04:11 UTC) recovering and trading above USD 37,300.
Similarly, most major altcoins are also moving higher. ETH spiked below USD 2,600 before correcting above USD 2,650 again. XRP managed to stay above the USD 0.60 support zone. ADA recovered above the USD 1.05 resistance zone.
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After a downside correction, bitcoin price found support near USD 36,250. BTC started a decent increase and was able to clear the USD 36,800 resistance. It even surpassed USD 37,000 while the next major resistance is near the USD 38,000 level, above which the price could gain momentum.
On the downside, an immediate support is near the USD 37,000 level. The next major support is near USD 36,250, under which the price could even decline below USD 36,000.
Ethereum price spiked below USD 2,600, but the bulls were able to protect USD 2,550. ETH is now rising and trading above USD 2,650. An initial hurdle is near the USD 2,720 level. The next key resistance is near the USD 2,800 level, above which the price could continue higher.
An initial support is near the USD 2,640 level. The next major support is near USD 2,600, under which the price may perhaps dive below USD 2,550.
Cardano (ADA) was stable above the USD 1.00 zone. It is moving higher, clearing the USD 1.05 resistance. The first key resistance is near USD 1.08. The main breakout resistance is still near USD 1.10.
Binance coin (BNB) spiked below the USD 365 support level. It is now recovering and trading above USD 370. To continue higher, the price must clear the USD 380 resistance zone.
Solana (SOL) declined sharply and
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