CRYPTO MARKET WATCH : BITCOIN , ETHEREUM RISE , DOGE CORRECTS GAINS ON TWITTER & ELON MUSK DEAL.

Bitcoin price found a strong buying interest after Tesla’s chief Elon Musk agreed to buy social media giant Twitter for $44 billion .

This deal is still subject to a shareholder vote, while some expect Musk will own the company in the coming days.

In either case, BTC gained pace and was able to clear the $40,000 resistance. It is currently inching higher above $40,500 and is up 3% in a day, and down less than 1% in a week.

Similarly, most major altcoins moved up. ETH was able to surpass $2,950 and is testing the $3,000 resistance level. XRP might gain pace if it settles above $0.70. ADA is struggling to recover above the $0.90 resistance zone.

• BITCOIN PRICE

After a downside extension below $38,500, bitcoin price found support. BTC started a steady increase above the $39,200 resistance. It was able to clear the $40,000 resistance zone. Currently, the bulls are facing hurdles near $40,650 and $40,700.

The next major resistance on the upside might be $41,200, above which the price may perhaps rally to $42,000.

If there is a downside correction, the price might test the $40,000 level. The next major support is near $39,500, below which the price might start a fresh decline according to experts .

• ETHEREUM PRICE

Ethereum price also followed bitcoin steps and gained pace above the $2,920 resistance. ETH even briefly climbed above the $3,000 pivot level. Next, it might face resistance near $3,020 and $3,030.

The next major resistance is near the $3,080 level. ETH is up 4% in a day and down 2% in a week. On the downside, an initial support is near the $2,975 level. The next major support is near the $2,950 level, below which there is a risk of a sharper decline.

• ADA, BNB, SOL, DOGE, and XRP PRICE

Cardano (ADA) extended its decline below $0.85 and traded close to the $0.82 support. It is now recovering above $0.85, but there are many hurdles on the upside near $0.90.

BNB found a strong support near the $382 level. The price gained pace and climbed above the $400 level. If the bulls remain in action, they might push the price towards the $412 level.

Solana (SOL) is back above the $100 level. If there is a close above $100, the price might rise steadily. The first key resistance is $105, above which the price might test $110.

Musk’s outfit , DOGE outperformed with a strong move above the $0.150 resistance. It gained over 19% in a day and is now trading near $0.154, correcting from $0.168 reached on Monday. If the downside correction continues, the bulls might appear near $0.142.

XRP price is moving higher and might test the $0.70 resistance. A close above $0.70 is a must to initiate a steady increase towards $0.75 or $0.78.

However , Many altcoins are up over 4%, including LUNA, SHIB, NEAR, FTT, APE, XMR, EGLD, THETA, RUNE, FTM, AAVE, and FLOW. Out of these, APE gained 10% and climbed above $18.60.

Overall, bitcoin price is showing positive signs above the $40,000 level. If BTC remains above $40,000, it could continue to rise towards $41,200.

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