05 May Bitcoin Regains Strength, Ethereum Hits New ATH, SHIB Slides
- Bitcoin price climbed above the USD 61,200 resistance.
- Ethereum rallied 9%, SHIB crashed by over 20%.
- DOGE and MANA are up by 25%-47%.
Bitcoin price was able to start a fresh increase above the USD 60,000 and USD 60,500 resistance levels. BTC climbed above USD 61,200. It is currently (04:18 UTC) facing resistance near USD 62,000, above which there could be a steady increase.
Besides, most major altcoins are gaining bullish momentum. ETH rallied 9% and it even spiked above USD 4,400. XRP could test the USD 1.12 resistance zone. ADA is now consolidating above the USD 2.00 level.
Total market capitalization
After a close above USD 60,000, bitcoin price was able to recover further. BTC was able to climb above the USD 60,500 and USD 61,200 resistance levels. An immediate resistance is near the USD 61,800 level. The next major resistance is near USD 62,000, above which the price may perhaps gain bullish momentum.
On the downside, an initial support is near the USD 61,200 level. The main support is now forming near the USD 60,000 level, below which the price might gain bearish momentum.
Ethereum price started a major increase above the USD 4,200 resistance. ETH rallied 9% and it even spiked above USD 4,400, reaching its new all-time high of USD 4,416 (per Coingecko) and correcting lower soon after. On the upside, an initial resistance is near the USD 4,400 level. The next major resistance is near USD 4,440, above which the price could accelerate higher towards the USD 4,550 level.
If there is a downside correction, the price might find bids near the USD 4,300 level. The first key support is near the USD 4,250 level.
ADA, BNB, SOL, SHIB, and XRP price
Cardano (ADA) is back above the USD 2.00 support zone. It is now consolidating gains above the USD 2.00 level. An immediate resistance is near USD 2.05, above which the price might rise towards the USD 2.20 level in the near term.
Binance Coin (BNB) gained pace above the USD 465 and USD 470 levels. It is now trading above USD 490 and approaching the USD 500 resistance. A close above USD 500 could pump the price towards the USD 520 and USD 525 levels.
Solana (SOL) climbed back above the USD 195 and USD 200 levels. The price is consolidating gains and it might start an increase towards USD 212. Any more gains may possibly push the price towards the USD 225 level in the near term.
SHIB is down over 20% and it trimmed most of its gains. It is trading below USD 0.000065 level. An initial support is near the USD 0.000060 level. If there are additional losses, the price could dive towards the USD 0.000055 level.
XRP price was able to break above the USD 1.05 resistance level. The price is now rising towards the USD 1.10 level. The key hurdle is near USD 1.12, above which the price could accelerate higher towards the USD 1.20 level.
Other altcoins market today
Many altcoins are up over 10%, including MANA, DOGE, REV, AXS, FLOW, SCRT, KCS, CRO, FIL, BAT, CHZ, ENJ, and ZEC. Out of these, MANA gained over 47% and it broke the USD 1.10 level.
Overall, bitcoin price is gaining pace above the USD 61,200 level. However, BTC must settle above USD 62,000 for upside acceleration in the near term.