Bitcoin Hits $22,000, Broader Rally seen in Crypto Market
Bitcoin began the trading session trading over the significant barrier mark of 20,500. Prior to a minor price adjustment, the cryptocurrency with the largest market capitalization soared past $22,000. During the preparation of this article, Bitcoin was trading at $21,759, an increase of 0.5% over the previous 24 hours. The bulls seem to be active at the level of 21,200.
Likewise, the bulk of cryptocurrencies posted increases. ETH surpassed the USD 1,700 resistance and challenged the USD 1,780 mark. XRP exhibits bullish characteristics over the USD 0.35 barrier. Above the USD 0.50 resistance, ADA is stabilizing.
After closing over the 21,000 mark, Bitcoin’s upward momentum increased. Bitcoin managed to surpass the 21,200 and 21,500 levels of resistance. It even surpassed 22,000 before profit booking commenced at around 22,250. On the downside, early support is anticipated around the level of 21,500. The next significant support level is projected to be at 21,200, below which the price might reach USD 20,500.
On the plus side, the price may struggle at around 22,000. The next significant resistance level is presently approaching 22,250, over which the price might increase to 23,200.
The Ethereum price is attempting to stabilize above the 1,700 mark. ETH reached 1,790 before seeing a little price reversal. Initial support is likely at the 1,720 level on the downside. The next significant support is anticipated at 1,680, below which the price might return to 1,650.
A further upswing might push the price to 1,780. The next significant barrier is expected to be at 1,800, over which the price may touch 1,880.
Earlier in the day, Cardano (ADA) surpassed the USD 0.50 barrier level. The price is now stabilizing over 0.50 USD and may move to 0.52 USD. At these levels, consolidation may result in a bigger rise.
BNB is gaining momentum, with cryptocurrency trading over the 292 level of resistance. Strong resistance is seen at 298 and 300; over these levels, the price may rise.
Near 35.00, Solana (SOL) is consolidating. If bulls stay active, the price may challenge the USD 36.50 resistance zone in the near future.
Over the USD 0.062 resistance, DOGE is gathering speed. The next significant resistance level is at USD 0.0650, over which the price may climb gradually to the USD 0.0688 barrier zone.
Numerous cryptocurrencies, including APE, QNT, CAKE, XEM, NEAR, LEO, CHZ, AR, XMR, and LINK, are in a positive zone. APE rose close to 10% and may perhaps surpass the USD 5.50 resistance level.