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BitcoinWorld — Market Surveillance

Before the bulls emerged, Bitcoin was trading near the USD 20,000 support level. Above the USD 22,000 level, BTC formed a base and began a recovery wave. It is currently consolidating near USD 22,300 (04:02 UTC) and facing resistance near USD 23,000 (04:02 UTC). BTC is up nearly 4% in a single day and down 26% in a week.

Similarly, the majority of prominent altcoins are seeking a new wave of recovery. Near USD 1,220 and USD 1,250, ETH is encountering resistance. The USD 0.32 resistance was broken by XRP. ADA broke through the USD 0.50 resistance level.

Bitcoin price found support near the key USD 20,000 zone after a downside extension. Above the USD 21,200 level, BTC formed a base and began an upside correction. A move above the USD 22,500 resistance was made. However, the bulls were unable to push the market beyond USD 23,000, and BTC shifted to USD 22,200. Near the USD 23,200 level, the next major resistance is found.

On the downside, an initial support is near the USD 22,000 level.  The next major support level is near USD 21,200, below which the price may resume its downward trend.

The price of Ethereum also found support near the $1,000 mark. Above the USD 1,150 barrier, ETH began an upside correction. Above the USD 1,200 level, there was a clear move. It is currently encountering resistance near the USD 1,250 level, above which a major upward rise is possible. ETH is up 4% in a single day but down 32% in a week.

ADA, BNB, DOGE, SOL and XRP price

Cardano (ADA) began a rapid ascent above the USD 0.50 resistance level. The price even rose above USD 0.535, but it couldn’t break through the USD 0.55 resistance level. ADA is still up 12% in a single day and down 19% in a week.

Above the USD 200 support zone, BNB remained stable. It began a new upward trend above the USD 220 and USD 225 levels. The price is currently consolidating near USD 230, with USD 235 acting as resistance.

The price of Solana (SOL) has risen above USD 30. It’s up over 18 percent, and it’s already trading above the USD 34 mark. The price is currently struggling to break through the USD 35 mark. SOL’s weekly losses were also reduced to 12%.

Near the USD 0.050 level, DOGE found strong support. The price began to rise steadily and surpassed the USD 0.060 resistance level. The next major resistance is currently near USD 0.0635. DOGE gained almost 13% this week, bringing its weekly gains to 24%.

The price of XRP began to rise sharply above the USD 0.312 resistance level. The price broke through the USD 0.335 resistance and may now try to break through the USD 0.35 resistance zone.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.