Bitcoin Nears USD 50K, Ethereum, Cardano Rally
Bitcoin price remained well bid above the USD 46,500 level. BTC started a fresh increase above the USD 48,500 resistance level. It is currently (04:25 UTC) trading above USD 49,200 and it might soon clear USD 50,000.
Similarly, many major altcoins gained bullish momentum. ETH is up almost 9% and it broke the USD 3,700 resistance. XRP is also gaining pace and it surpassed the USD 1.235 resistance. ADA rallied and it cleared the key USD 3.00 resistance.
Total market capitalization
After forming a support base, bitcoin price started a steady increase above USD 48,000. BTC cleared the USD 48,500 resistance zone to move into a positive zone. The price even traded above the USD 49,200 and USD 49,500 levels. On the upside, an immediate resistance is near the USD 49,850 level. The main resistance is near the USD 50,000 level, above which the price might rally to USD 52,000.
On the downside, the bulls might remain active near the USD 49,200 level. The next major support is near the USD 48,500 level.
Ethereum price remained in a bullish territory and it broke the USD 3,700 resistance. ETH even climbed above USD 3,800 and tested USD 3,850. It is now consolidating near USD 3,750 and it might continue to rise. The first key resistance is near USD 3,800, followed by USD 3,850.
If there is a downside correction, the price could find bids near USD 3,700. The next major support is near the USD 3,640 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is up almost 9% and it broke the main USD 2.95 and USD 3.00 resistance levels. It even spiked to USD 3.05. If the bulls remain active, the price could rise towards the USD 3.20 and USD 3.25 levels. Conversely, there might be a downside correction towards USD 2.92 or USD 2.88.
Litecoin (LTC) broke the USD 175 resistance. It is now trading above USD 180, with an immediate resistance at USD 185. A close above USD 185 and USD 188 might take the price towards the USD 200 level. If not, the price might dip towards the USD 175 support level.
Dogecoin (DOGE) is up 8% and it was able to surpass the USD 0.288 resistance. DOGE is trading around USD 0.300 and it might rise further towards the USD 0.312 level. The next major resistance is near USD 0.320, where the bears might take a stand.
XRP price is up almost 5% and it was able to climb above USD 1.220. The price even surpassed USD 1.235 and spiked above USD 1.250. Any more gains could open the doors for a move towards the USD 1.265 level. If there is a downside correction, the price might find bids near USD 1.235 and USD 1.220.
Other altcoins market today
Many altcoins are up over 10%, including FTT, MIOTA, FTM, REV, VET, XDC, OKB, MATIC, CAKE, AVAX, SUSHI, KCS, GRT, TEL, and LINK. Out of these, FTT rallied over 40% and it surpassed the USD 65 level.
Overall, bitcoin price is gaining pace above the USD 48,000 and USD 48,500 resistance levels. If BTC breaks USD 50,000, it could accelerate higher towards USD 52,000.
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