Market situation: Bitcoin and Ethereum prices continue to rise
Bitcoin price rallied yesterday, forming a strong base at $22,650 on news of US inflation estimates. Bitcoin is currently trading in the $24,400 range, up 6% from yesterday and up 7% from last week.
To Report Crypto News, today most of the altcoins in the market also show more growth potential. Ethereum recorded a 12% gain, crossing the $1,880 level. XRP is trying to reach the $0.40 level and Cardano is trying to break above the $0.55 price resistance.
Bitcoin price
Bitcoin is now well supported around $22,500 after a sharp price drop. Bitcoin bulls, or so-called Bitcoin bulls, performed well in the $22,600 and $22,700 range. As a result of these movements, Bitcoin has faced a resistance of $24,500 with a suitable price increase. The next key resistance is in the $25,000 range and crossing it could mean reaching $26,000.
Now, if Bitcoin takes a downward trend, the first support in the range of $24,000 and the next support in the range of $23,500 are ahead of it, and crossing them can spell bad days for Bitcoin investors.
Ethereum price
The price of Ethereum made a strong jump through the $1,750 resistance and then passed the $1,880 resistance, thus increasing its price by 12% from yesterday. Even before the start of the Ethereum integration update, the price crossed the $1,900 level. Ethereum investors have experienced a 16% price increase in the last week.
Now, if the price starts a downward trend, the first support of Ethereum will be in the range of $1,850, and breaking this support can cause the price to drop to $1,750.
The price of altcoins
Cardano has started a continuous increase after crossing its $0.533 resistance. The first resistance in the way of the price of Cardano is in the range of $0.55, and crossing it can lead to reaching the price of $0.60.
BNB has bounced back above the $325 resistance and is now looking to test the $322 resistance. If this resistance is broken well, the next house of the price could be $350.
The price of Solana started moving above the resistance of $43.5 with a jump of 12%. If bulls or bulls in the Solana market do well, reaching the $45 level is not out of reach.
Dodgecoin is above its $0.070 support and is currently trying to break through the $0.0725 resistance. Crossing this resistance could mean reaching the next resistance at the $0.0750 level.
The price of XRP is rising once again and the $0.388 resistance is ahead. The next key resistance is in the range of $0.40 and crossing it can further accelerate the price increase.
Most altcoins in the market have had an upward trend. In the meantime, Celsius jumped by 33% during the last night and exceeded the level of $2.35, making it the best performer among the top 100 digital currencies in the market. Celsius, with a 104% price increase in the last week, has now grown by 237% in a month. Of course, the price of this digital currency has recorded a 63 decrease compared to the last year.
In short, the price of Bitcoin, which is now above its $24,000 resistance, is increasing its rate of ascent. Bitcoin is likely to test the $25,000 resistance if it can continue this trend.