Crypto

Bitcoin and Ethereum Are Gaining Traction and YFI Is Extending Its Gains

Bitcoin and Ethereum Are Gaining Traction and YFI Is Extending Its Gains
  • The price of bitcoin has risen above USD 48,000.
  • XRP is again reaching USD 0.90, and Ethereum is back above USD 4,000.
  • YFI increased by 13% and crossed the USD 36,500 mark.

Bitcoin’s price continued to fall below USD 46,500. BTC bulls, on the other hand, remained aggressive at the USD 45,500 support zone. It is currently up 3.5 percent in a day (04:22 UTC) and trading above USD 48,500 once more.

Similarly, the majority of prominent altcoins are correcting higher as well. Ethereum is rising above USD 4,000, while XRP is regaining ground and aiming for USD 0.90. ADA recovered above USD 1.25 after finding support near USD 1.20.

Bitcoin’s value

Bitcoin price found support near USD 45,500 after another dip. BTC established a new rising trend after forming a base above USD 45,500. It has already broken above the USD 48,000 resistance level and is trading above USD 48,500.

On the downside, the first level of support can be found near USD 46,200. The next significant support level is at USD 45,500, below which the price may continue to fall.

The cost of Ethereum

The price of Ethereum also found support near USD 3,750 and began a new upward trend. ETH has risen by more than 3%, is back above USD 4,000, and may touch USD 4,100.

If the price continues to fall, support could be found near USD 3,800. The next important support level is near USD 3,750, below which the price may test USD 3,650.

Price of ADA, BNB, SOL, DOGE, and XRP

Near the USD 1.20 level, Cardano (ADA) saw a lot of purchasing interest. The price has risen and is currently trading at USD 1.25. The bulls must gather power above USD 1.235 to continue rising.

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Before breaking the USD 525 resistance zone and pushing above USD 530, Binance currency (BNB) was solid above the USD 500 handle.

Solana (SOL) has recovered above the USD 175 level after trading near the USD 165 support level. It may try the USD 188 resistance zone, but the primary barrier is near USD 200.

DOGE is attempting to reclaim its previous high of USD 0.170. The first major resistance level is near USD 0.175, above which the price might test USD 0.188. If this does not happen, it may fall to USD 0.162.

The price of XRP began to rise above USD 0.850 and broke through the USD 0.88 barrier level. Near USD 0.90, the next significant resistance, above which the price could test USD 0.920, is the next major resistance.

Today’s market for other altcoins

YFI, REV, IOTX, HNT, AVAX, XMR, and LUNA are among the cryptocurrencies that have gained more than 5%. YFI was able to acquire strength and rise above USD 36,500 as a result of this. It’s also one of the greatest performers today, with YFI jumping 13% in a single day, bringing its weekly gains to a whopping 88 percent.

Overall, the price of bitcoin is rising towards USD 49,000. In the next sessions, if BTC settles over USD 49,000, it could continue to increase towards USD 50,000.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.