Bitcoin, Ethereum and Altcoins Start Fresh Increase
Bitcoin price remained well bid above the USD 47,000 level. As a result, BTC started a fresh increase and it cleared the USD 50,000 resistance level. It is currently (04:50 UTC) trading above USD 52,000 and it might face hurdles near USD 53,250.
Similarly, most major altcoins are gaining bullish momentum. ETH is up over 10% and it broke the USD 2,400 resistance. XRP/USD is also showing positive signs, but it is facing resistance near USD 1.155.
Total market capitalization
After another slide, bitcoin price found support near the USD 47,500 zone. BTC remained stable and started a fresh increase. BTC broke the USD 50,000 and USD 52,000 resistance levels. It is showing positive signs, with an immediate resistance near the USD 53,000 level. The first key resistance is near the USD 53,250 level, above which the price could surge towards the USD 55,000 level.
On the downside, the USD 51,500 level is a decent support. The main weekly support is now forming near the USD 50,000 and USD 49,500 levels, below which the price could break USD 47,500.
Ethereum price started a strong increase above the USD 2,300 level. ETH gained over 10% and it even broke the USD 2,400 resistance. The price is now consolidating near the USD 2,450 level, with an immediate resistance near the USD 2,500 level. Any more gains might open the doors for a fresh all-time high.
If there is a downside correction, the price might find bids near the USD 2,400 level. The next major support for the bulls may possibly be near USD 2,300.
BNB, ADA, DOGE, and XRP price
Binance Coin (BNB) is trading above the USD 500 pivot level. BNB even cleared the USD 525 resistance and it might continue to rise towards the USD 545 and USD 550 resistance levels. If there are more upsides, there are chances of a move towards the main USD 600 resistance.
Cardano (ADA) is rising and it is approaching the USD 1.20 resistance level. The next key resistance is near USD 1.22, above which the bulls might aim a test of the USD 1.30 level in the near term. On the downside, the USD 1.12 level might act as a decent support.
Dogecoin (DOGE) is holding gains above the USD 0.250 pivot level. An initial resistance is near the USD 1.285 level. The next major barrier is near the USD 1.300 level, above which there are chances of an increase in the coming sessions.
XRP price is up over 7% and it is trading above the USD 1.12 level. The main breakout resistance is near the USD 1.150 and USD 1.155 levels. A successful close above USD 1.155 could open the doors for a steady increase in the coming sessions.
Other altcoins market today
Many altcoins gained over 10%, including MATIC, TFUEL, DENT, UMA, CAKE, ZEN, AAVE, AR, FTM, UNI, ICX, KLAY, SOL, LUNA, NEAR, and KSM. Out of these, MATIC is up over 25% and it broke the USD 0.45 level.
Overall, bitcoin price is gaining pace above the USD 52,000 level. If BTC settles above USD 53,250, there are chances of an increase towards the USD 55,000 and USD 56,000 levels.