Altcoins, Bitcoin, Cryptocurrency, News & Updates

Crypto Market Update 02/02: Coins getting ready for a bull run – If they can breach the resistance

Bitcoin (BTC) is consolidating under the USD 34,500 and USD 35,000 resistance levels. On the flip side, Ethereum (ETH) is up 5% and is eyeing a break over USD 1,400, XRP is back under USD 0.400. While FUN, BAND, SUSHI, and LUNA are up above 30%.

Bitcoin is consolidating over the USD 33,000 and USD 32,200 support levels. On the upside, BTC is facing a heavy resistance near the USD 34,500 and USD 35,000 levels. It is currently (05:00 UTC) showing positive signs, but it must settle above USD 35,000 for a steady increase.

Conversely, most major altcoins are slowly gaining bullish momentum. ETH/USD cleared the USD 1,350 resistance, and it seems like the bulls are aiming for more gains above USD 1,400 and USD 1,420. On the other hand, XRP/USD failed to stay in the bullish territory, and it declined below USD 0.400.

Total Market Capitalization


Bitcoin Price

Bitcoin (BTC) mostly consolidated above the USD 32,200 and USD 33,000 support levels. On the upside, the first key resistance is near the USD 34,500 level. The primary resistance is now forming near the USD 35,000 level. A close above the USD 35,000 level might open the doors for a sustained upward move.

On the downside, the USD 33,200 level is a decent support. The next significant support is at USD 33,000, below which the price could slide towards the USD 32,200 support zone.

Ethereum Price

Ethereum (ETH) is rising firmly, and it is trading above the USD 1,350 resistance. Immediate resistance is near the USD 1,400 zone. The next key resistance is near the USD 1,450 level. A clear break above the USD 1,450 level may call for a new rally towards USD 1,500 and USD 1,550.

If there is no break above USD 1,400 and USD 1,450, the price could correct lower. Initial support is near the USD 1,350 level. The next significant support sits at USD 1,320.

Bitcoin Cash, Litecoin, and Ripple Price

Bitcoin Cash (BCH) is trading above the USD 405 and USD 400 support levels. BCH might start a new increase towards the USD 440 and USD 450 resistance levels. If not, there is a risk of a sharp decline below the USD 400 and USD 385 support levels in the near term.

Litecoin (LTC) is consolidating above the USD 130 level. Initial resistance for LTC is near the USD 138 level. The first key resistance is USD 142, above which the bulls might test the USD 150 level. On the downside, the USD 130 level could provide support.

Ripple (XRP) spiked towards the USD 0.7500 level before starting a notable decline. It trimmed most of its gains and even traded below USD 0.400. The first significant support is at USD 0.350. The primary support is now forming near the USD 0.300 level, which acted as a crucial hurdle in the past few weeks.

Other Alts Market Update

Many altcoins gained over 10%, including FUN, BAND, SUSHI, CAKE, LUNA, NEXO, XEM, AMPL, ADA, BNB, VET, SOL, QNT, THETA, OMG, CRV, XVG, and ATOM. Out of these, FUN surged 50% and traded above the USD 0.0420 level.

Bitcoin is slowly moving higher, but it faces a significant resistance near USD 35,000. Besides, ETH is gaining momentum, and it could accelerate above USD 1,400 and USD 1,450.

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