Bitcoin Tests USD 23,000, Ethereum and Altcoins Rally

• Bitcoin price gained 10% and moved above the USD 23,00 resistance.
• Ethereum rallied 16% and surpassed USD 1,600, XRP broke the USD 0.35 resistance.
• ADA and SOL gained over 10%.

Bitcoin price formed a support base above the USD 21,000 level. BTC started a steady increase and was able to clear the USD 22,000 resistance zone after the US Federal Reserve’s rate hike decision and following comments. BTC is currently (03:55 UTC) up almost 10% in a day and trading above the USD 23,100 level. The price is down less than 1% in a week.

Similarly, most major altcoins are also gaining bullish momentum. ETH jumped and surpassed the USD 1,600 resistance zone. XRP was able to settle above the USD 0.35 resistance zone. ADA surged above the USD 0.50 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a strong bid near the USD 20,750 level, bitcoin price started a fresh increase and even climbed above the USD 23,000 level. An immediate hurdle is at USD 23,500, while the next major resistance could be USD 24,000, above which the price could trade to a new monthly high.

On the downside, an initial support is near the USD 22,750 level. The next major support is near the USD 22,500 zone, below which the price might drop to USD 22,000.

Ethereum price

Ethereum price outperformed bitcoin with a strong move above the USD 1,500 resistance zone. ETH gained over 16% in a day, and there was a move above the USD 1,600 resistance zone. The price is trading above the USD 1,640 level and is also up 8% in a week. The next key resistance is near the USD 1,680 level, above which ETH might rally to USD 1,740.

On the downside, an initial support is near the USD 1,600 level. The next major support is near the USD 1,550 zone, below which the price might drop to USD 1,500.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) also followed a bullish path and cleared the key USD 0.50 resistance zone. It is now correcting gains but still could test the USD 0.52 level and might rise further towards the USD 0.535 level.

BNB climbed above the USD 255 and USD 265 resistance levels. It is up 7% and approaching the USD 275 level. The next major resistance on the upside is at USD 288.

Solana (SOL) gained 10% and surpassed the USD 38 resistance. The price is now attempting a move above the USD 40 level. If the bulls succeed, the price could jump to USD 42.

DOGE cleared the USD 0.0650 resistance zone. It might soon test the USD 0.0680 resistance zone. Any more gains may perhaps send it towards the USD 0.0700 resistance.

XRP price cleared the USD 0.35 resistance zone and is moving higher towards the USD 0.375 level. The next major resistance is near the USD 0.388 level.

Other altcoins market today

Many altcoins are up over 10%, including DOT, MATIC, AVAX, UNI, LTC, FTT, CRO, LINK, NEAR, ATOM, and BCH.  ETC, BTG, SNX, and LDO are the best performers among the top 100 cryptoassets by market capitalization as they jumped 31%-46% in a day.

Overall, bitcoin price is gaining pace above the USD 23,000 level. If the bulls remain in action, BTC might soon surpass the USD 24,000 resistance.

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