Bitcoin price formed a strong base above $22,650 and is on the rise after yesterday's US inflation news. BTC is currently trading near the $24,400 level and is up more than 6% in one day, and about 7% in a week. Similarly, most of the major altcoins are aiming for further gains. ETH is up more than 12% and it surpassed the $1,880 resistance. XRP could test the $0.40 resistance, while ADA is approaching the $0.55 resistance.
BNB settled back above the $325 resistance level and it is currently testing the $332 resistance area. A clear move above this level could push the price higher towards $350. Solana (SOL) is up around 12% and it made a move above the $43.50 resistance. If the bulls stay active, the price could rally towards the $45 resistance. DOGE is rising above the $0.0700 support level. The price is facing resistance near the $0.0725 level, above which DOGE could test the $0.0750 resistance.
Many altcoins are gaining bullish momentum, including DOT, MATIC, UNI, LINK, NEAR, LTC, FTT, CRO, ATOM, and VET. Meanwhile, CEL rose 33% in one day to surpass $2.35, outperforming the top 100 cryptocurrencies by market cap today and in a week. CEL increased by 104% in one week and 237% in one month. It fell 63% in one year.
Bitcoin price found strong support above $22,500 after a sharp decline. The bulls were active around $22,600 and $22,700. As a result, BTC started a strong increase and it is now facing resistance near the $24,500 level. The next major resistance is near the $25,000 level, above which the price could test $26,000. On the downside, the closest support is at $24,000. The next major support is near the $23,500 zone, below which the price could start a fresh decline in the short term.
Ethereum price outperformed Bitcoin with a strong move above the $1,750 resistance. ETH is up more than 12% in one day and it surpassed the $1,880 resistance. The price even rallied above $1,900 before starting consolidation. ETH is up 16% in a week. An initial support on the downside is near the $1,850 level. The next major support is near the $1,800 zone, below which the price could decline towards the $1,750 level. The nearest resistance is near the $1,920 level. The next key resistance is near the $2,000 level, where the bulls could face selling.