- Bitcoin (BTC) held support above $29,000 and is testing $30,000.
- Ethereum (ETH) rebounded from $1,900.
- Several altcoins have turned green.
Bitcoin held the key support level at $29,000 throughout the day, with more gains now likely as the coin tests resistance at the $30,000 level. As of 15:44 UTC, the number one cryptocurrency was trading at $30,330, up nearly 5% in the past 24 hours and 5% in the past 7 days.
At the same time, most altcoins are also rising.
Total market capitalization
BTC remained in a range between $28,800 and $29,800 on Wednesday, and is currently moving above the key $30,000 level. A clear break above this level would mean that the next upside resistance would be around $31,300, which was the market top on May 15-16.
On the downside, BTC has support around today’s lows at $28,700, while further support exists around the May 12 lows at $27,000.
ETH has found support just north of the $1,900 level, but like BTC, it still has some way to go before hitting the highs from earlier in the week. ETH rose to $2020 and is up 3% in one day and down 3% in one week. On the upside, ETH faces resistance around Sunday’s market peak at $2,150, while support on the downside can be found at around $1,900.
If ETH falls below $1,900, the next logical support zone would be the May 12 low around $1,800, around 9% below the current price.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) has moved from the daily close of the $0.5 candle on the chart yesterday to $0.54 at the time of writing. The token has support at the daily low around $0.49 and resistance on the upside at $0.57 and $0.60.
BNB was among the day’s winners, up 5% in the past 24 hours. From a current price of $307, the token has support at $287, but could face resistance around Monday’s highs at $312.
Solana (SOL) is trading above the $50 mark, after recovering from a dip to $48.20 earlier in the day. SOL has support at the daily low and resistance on the upside just below $60.
Dogecoin (DOGE) bounced slightly higher from the $0.083 level today, trading as low as $0.087. The meme coin has support at the daily low and additional support at the low from May 12 of $0.0689. On the upside, resistance exists around $0.093.
XRP traded higher during the day on Thursday, after initially dipping below yesterday’s closing price of $0.405. XRP rose 3%, reaching $0.42. The token has support at the daily low of $0.39 and resistance around $0.45.
Other altcoin markets today
Among the top performers today are HBAR, MANA, ICP, AAVE, SAND, AR, FLOW, KSM and GALA, which jumped 7-10% in one day.
Meanwhile, one of the best performers over the past week, XCN, fell 14%, hitting $0.92 and trimming its weekly gains to less than 26%.