A close above USD 63,000 is needed to start a fresh increase in the near term.
ETH spiked below USD 4,000, but downsides were limited and the price moved back above this level again.
The next major resistance is near USD 63,000, above which the price may possibly rise towards the USD 65,000 level.
On the downside, an initial support is near USD 61,200.
The price is consolidating near USD 4,100 and it might start a fresh increase if there is a break above USD 4,175.
An immediate support on the downside is near the USD 4,100 level.
The first major support is near USD 185, below which the bears might aim a larger decline.
Meanwhile, the so-called “DOGE killer,” the SHIB token, rallied by 12% in a day, increasing its weekly gains to 44%, and becoming the 11th biggest cryptoasset by market capitalization.
A few altcoins are up over 8%, including GRT, RUNE, ONE, SHIB, FTM, NEAR, KSM, and KCS.
Overall, bitcoin price is recovering higher and trading above the USD 61,200 support.