Cardano and Ethereum Price Surge Alongside Bitcoin

The price of Bitcoin has been trading in a defined range over the past weeks as the halving hype has passed.

Bitcoin's price action also led to increased volatility in altcoins and some of the smaller altcoins have been showing impressive strength.

As long as the price of a certain asset continues to move above the moving averages the asset is in bull territory.

Why is that important? Throughout the entire previous bull cycle, the price of Ethereum remained above these indicators, leading to a peak of $1,400 in January 2018.Notably, the volume is also massively increasing in recent periods, showing signs of accumulation as volume precedes price.

The price of Bitcoin is now far above the $6,000 barrier, as it's currently hovering between $9,100 and $10,000.

On the technical side, the price has been holding the 100-day and 200-day MA as support earlier.

Once the price of Ether is above the resistance level, a new higher high should be made.

The Cardano chart in the BTC pair is showing an apparent breakthrough in the resistance at 0.00000625 sats, after which the price rallied towards the next resistance at 0.00000680-0.00000700 sats.

Preferably, the price should come down for a retest of the 0.00000625-0.00000640 sats level for support.

Once the price of ADA/BTC breaks through the 0.00000690 sats level, a further, mpre sustainable rally towards 0.00001000 - 0.00001070 sats level is on the table.