Large Caps Explode: BNB Breaks ATH Above $50, ETH Reclaims $1400 (Market Watch)

Large Caps Explode: BNB Breaks ATH Above $50, ETH Reclaims $1400 (Market Watch)

Despite another attempt to overcome $35,000, bitcoin has continued to trade inside the tight range of $33K to $35K.

In contrast, large-cap altcoins, along with some DeFi ‘stars’ had performed a lot better. This includes a new ATH for Binance Coin, Ethereum rising above $1400, getting near the previous January 2018 ATH range. On the other side, XRP has plummeted following the recent gains.

Binance Coin Surpassing $50 To New ATH

Most of the large-cap altcoin market is well in the green against the dollar over the past 24 hours. This comes following a ‘dry’ weekend with minor price moves.

Ethereum has added 8% to its value and has risen to about $1,400. Thus, the second-largest crypto has come just inches away from its previous all-time high region – $1440 – set on January 2018. Despite a spike towards $1480 last January, ETH is still struggling to break its previous ATH.

Chainlink (5%), Bitcoin Cash (3%), Polkadot (2%), and Litecoin (5%) are also in the green from the top ten.

Binance Coin has made a triumphant return among the top ten coins, after a daily increase of 10%. Earlier, BNB even painted a new all-time high at over $52 (according to Binance).

However, Cardano’s performance has trumped all other large-cap altcoins with a 23% surge. Consequently, ADA’s price has increased to $0.42.

From the bearish side, Ripple is the most significant loser. After a few days of rising following the company’s response to the SEC charges, or a coordinated pump, XRP has nosedived by 40% to $0.35.

More gains are evident from lower- and mid-cap altcoins, especially among the DeFi’s. FunFair leads with a 50% increase, followed by Band Protocol (34%), Terra (30%), and SushiSwap (30%). Moreover, Sushi is up by 70% on a weekly scale and trades at $13.

These gains have helped the total market cap to maintain its value above the coveted $1 trillion mark.

Bitcoin Stalls Around $34K Again

While the altcoins have shown impressive fluctuations, their leader seems stuck in a range between $33K and $35K. After the highly-volatile end of last week when BTC displayed $6,000 moves in both directions, the asset calmed over the weekend.

In the past 24 hours, bitcoin attempted to overcome $35,000 once again but to no avail. Just the opposite, the rejection drove the asset to an intraday low of about $33,000.

Nevertheless, the cryptocurrency reclaimed $34,000 in the following hours and currently trades above it.

As expected, the outperforming altcoins continue to damage bitcoin’s dominance over the market, and the metric has fallen to 62%. For comparison, it had increased to over 65% on Friday.

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Ethereum Consolidates Around ATH Levels: Breakout Might Initiate Huge Move (ETH Price Analysis)

ETH/USD: ATH Area Tested One Last Time?

Key Support Levels: $1425, $1392, $1350.

Key Resistance Levels: $480, $1500, $1530.

Ethereum managed to climb by 8% today as it pushed from $1375, breaking $1400 to reach $1456 as the current daily high. The cryptocurrency is now trading around the previous Jan-2018 ATH price, which was $1440, according to Bitstamp.

Even though ETH saw a higher price earlier in January, reaching as high as $1480, the coin couldn’t hold above and failed to close a daily candle above the previous ATH price area. Following the $1480 rejection, ETH plunged back into the $1200 support as of last week.

If ETH finally overcomes the $1440 previous ATH area, we can expect a huge move into the price discovery area. Where ETH/USD never traded before and not a lot of resistance is expected, just as Bitcoin did with the $20K previous ATH level.

ETH-USD Short Term Price Prediction

Looking ahead, the first level of resistance lies at current levels, which is the 2018 ATH. This is followed by $1480 (the current ATH Price) and resistance at $1500, provided by a rising price channel’s upper boundary and the psychological level.

Beyond the channel, resistance is found at $1530 (1.414 Fib Extension), $1600, and $1650 (1.618 Fib Extension).

From the bearish side, the first support lies at $1425 (previous ATH). This is followed by $1392, $1350, and $1300. Further support lies at $1260 (.236 Fib) and $1200.

The RSI also bounced higher from the midline, indicating the rising bullish momentum within the market.

ETH/BTC: Facing 0.042 Resistance

Key Support Levels: 0.0405 BTC, 0.0396 BTC, 0.039 BTC.

Key Resistance Levels: 0.0416 BTC, 0.042 – 0.0424 BTC, 0.0434 BTC..

Against Bitcoin, Ethereum pushed as high as 0.045 BTC on January 25th. From there, it met resistance on the upper boundary of the marked ascending price channel and started to descend, till breaking below the channel. Following the breakdown, ETH/BTC found support upon 0.0396 BTC (Feb 2019 High), after reaching as low as 0.036, while Bitcoin spiked beyond $38K due to Elon Musk’s pump last Friday.

Yesterday, ETH finally reclaimed the critical 0.04 level, and today the bullish momentum continued as ETH recorded a daily high of 0.042.

ETH-BTC Short Term Price Prediction

Looking ahead, the first level of resistance lies at 0.0416 BTC (2019 High). This is followed by 0.042 – 0.0424 BTC (1.272 Fib Extension), 0.0435 BTC (1.414 Fib Extension & lower boundary of the ascending channel), 0.044 BTC, and 0.045 BTC (1.618 Fib Extension).

On the other side, the first support lies at 0.0405 BTC (2020 High). This is followed by 0.0396 BTC (Feb 2019 High), 0.0390 BTC (.382 Fib), and 0.0376 BTC.

The RSI is above the midline, around 60, as the bulls control the market in the longer-term. Besides, the Stochastic RSI had gone through a bullish crossover signal from the oversold area, which might give fuel for another leg up.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

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Ethereum Eyes New ATH, Bitcoin and Altcoins Gain Traction

Bitcoin price broke the USD 34,500 resistance level to move into a positive zone. BTC even spiked above USD 35,000 and it is currently (13:00 UTC) trading in a bullish territory. If there is a daily close above USD 35,000, there are chances of a steady rise in the near term.

Similarly, most major altcoins are trading in a positive zone. ETH/USD is gaining bullish momentum above USD 1,420 and it seems like the bulls are eyeing a test of USD 1,500 and USD 1,520. XRP/USD is trading well above the USD 0.350 support, but it must settle above USD 0.420 for a fresh increase.

Total market capitalization

Bitcoin price

There was an increase in bitcoin price above the USD 34,000 and USD 34,500 levels. BTC even broke the USD 35,000 resistance, but there is no proper close yet. If the bulls remain in action, the price could continue to rise towards the USD 35,500 and USD 36,200 levels.

If there is no close above USD 35,000, there could be a short-term downside correction. The first key support is near the USD 34,500, below which the price could revisit USD 34,000.

Ethereum price

Ethereum price is showing positive signs above USD 1,400. The bulls already made an attempt to clear the USD 1,450 resistance zone. If there is another attempt, ETH could jump above USD 1,475 and USD 1,500.

On the downside, an initial support is near the USD 1,400 level. The first major support sits at USD 1,380. Any more losses could lead the price towards the USD 1,350 support.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price is rising towards the USD 440 and USD 450 resistance levels. If BCH breaks the USD 450 resistance, the price could even clear the USD 465 resistance. If there is a fresh decline, the bulls might protect USD 412. The next major support is still near the USD 400 level.

Litecoin (LTC) is up 5% and it is testing the USD 142 resistance. If LTC clears the USD 142 hurdle, it could rise towards the USD 150 resistance. The next stop for the bulls above USD 150 may possibly be near the USD 162 level. On the downside, the price might remain well supported near USD 130.

XRP price extended its decline, but the bulls were able to protect the USD 0.350 support. It is currently recovering higher, with an immediate resistance at USD 0.400. The main resistance is near USD 0.420, above which the price might start a fresh surge.

Other altcoins market today

Many altcoins climbed over 10%, including FUN, LUNA, SOL, ADA, NEXO, QNT, BAND, CHSB, UMA, HBAR, REN, KNC, THETA, ZIL, NEAR, ATOM, and SUSHI. Out of these, LUNA gained 25% and it is approaching the USD 2.00 level.

To sum up, bitcoin price is slowly moving higher and it is showing positive signs above USD 34,500. Once BTC settles above USD 35,000, it could open the doors for more upsides.

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