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Red nails

ADA and LINK Surge, BTC and ETH Volatile

  • BTC price retested the $31,500 resistance before falling again
  • ETH fails near $1,880
  • XRP fluctuates around $0.40
  • ADA and LINK perform outstandingly

Bitcoin Price rose above $29,500 to hit $31,500 before falling again. It’s currently trading near $30,000 and up over 1%, though down 6% in a week.

Likewise, significant altcoins recovered from tested hurdles and losses before falling again. ETH rose above $1,800 and tested the $1,880 resistance before falling. XRP is hovering around the $0.40 level while ADA tops the list of best-performing coins.

Bitcoin Price

After a decline, the BTC found support at levels between $29,500 to $29,500. It formed a small base before rising above $30,500 and facing a significant resistance around the $31,500 level.

It then fell sharply, breaking the $30,500 support. Currently, it’s testing the next support around $30,000 levels, below which its price could start a sharp decline.

Ethereum Price

The ETH price remained above the bid level of $1,720 and formed a base around it. It then started rising above the $1,800 level and progressing further beyond $1,850. Bears defended the $1,880 level, and ETH fell below $1,790. Ethereum is still up nearly 2% in a day. It’s down 9% within a week. The following support is near $1,750, below which the ETH price might fall sharply.

XRP, BNB, DOGE, ADA, and SOL Prices

  • BNB tested the $272 resistance level before starting a recovery session. The price is now above $280; however, it must clear $288 and $295 to continue rising. The next resistance level is $300.
  • DOGE coin moved below the $0.0800 support level but failed to clear the $0.820 resistance level. However, it remains unchanged in a day.
  • Cardano(ADA) shrugged off the losses and rose above the $0.60 resistance. Before correcting the lower, the price moved over 7% above the $0.64 resistance level. Should it clear $0.65, it could move towards $0.70.
  • Solana(SOL) tried to recover above the $40 resistance level before correcting the lower. It’s now down over 2% in a day.
  • XRP price is hovering around the $0.40 level, but it could climb further if it corrects the $0.425 resistance. The next resistance is near the $0.45 level.

Other Altcoins

Other altcoins have climbed at least 4%. These include; AR, XEC, FTT, XEC, ALGO, and DCR. Further, LINK rose 11% and broke the $8.5 resistance level before correcting lower. 

LINK tops the list of over 100 crypto assets by market capitalization. It has gained above 9% in a week.

Closing Remarks

To conclude, the BTC is hovering sharply around the $30,000 level. However, it could climb further if there is a better move above the $31,500 resistance level.

### Disclaimer:
All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partner’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.

Author

  • Zahari Rangelov

    Zahari Rangelov is an experienced professional Forex trader and trading mentor with knowledge in technical and fundamental analysis, medium-term trading strategies, risk management and diversification. He has been involved in the foreign exchange markets since 2005, when he opened his first live account in 2007. Currently, Zahari is the Head of Sales & Business Development at TraderFactor's London branch. He provides lectures during webinars and seminars for traders on topics such as; Psychology of market participants’ moods, Investments & speculation with different financial instruments and Automated Expert Advisors & signal providers. Zahari’s success lies in his application of research-backed techniques and practices that have helped him become a successful forex trader, a mentor to many traders, and a respected authority figure within the trading community.