Bitcoin price prolonged its decline, but the bulls were active near the $ 44,000 mark. As a result, BTC began another spike above the $ 45,500 and $ 46,500 resistance levels. It’s currently trading over $ 47,000 (04:00 UTC) and could even test $ 48,000.
Similarly, most of the major altcoins are gaining upward momentum. ETH climbed above the $ 3,150 and $ 3,200 resistance levels. XRP is up 8% to beat the key resistance level of $ 1.20. ADA outperformed and rebounded above the $ 2.40 resistance.
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After a downward correction, Bitcoin price found support near the USD 44,000 zone, BTC began to spike again and climbed above the USD 45,500 resistance. The bulls pushed the price above the key resistance of $ 47,000. On the flip side, an initial hurdle is close to the $ 47,500 level. The main resistance is still near the $ 48,000 mark.
Immediate support is near the USD 46,800 zone. The next big support is near the $ 46,200 level, below which there is a risk of moving towards the $ 45,500 level.
Ethereum price also followed a similar pattern, starting a renewed spike out of the USD 2,950 support zone. ETH rebounded above the $ 3,150 and $ 3,200 resistance levels. It is now facing resistance near the $ 3,250 mark, above which the price could test the $ 3,300 mark.
If the downside is corrected again, the price could trade below USD 3,180. The main support is now forming near the USD 3,110 level.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) outperformed with a large move above the USD 2.20 resistance. ADA climbed over 15% and even surpassed the $ 2.40 mark. It is now facing resistance near the USD 2.50 level. Further price gains could lead the price towards USD 2.65.
Litecoin (LTC) remained supported near the USD 162 level. It began a renewed spike above the USD 172 resistance. The price is consolidating near $ 175 and could continue to climb towards 180. The main breakout resistance is near the USD 188 level.
Dogecoin (DOGE) settled above the $ 0.300 and $ 0.305 levels. The price even surged above the $ 0.320 mark, but there was no continuation upward. Initial resistance is near $ 0.325 above which price could revisit the $ 0.335 resistance zone.
The XRP price remained well bid above the $ 1.05 and $ 1.08 support levels. As a result, there was a bullish reaction and the price climbed above the USD 1.20 resistance. If the price crosses the $ 1.235 and $ 1.250 resistance levels, it could test as much as $ 1.30.
Different Altcoins Market Today
Many altcoins are up over 10%, including CHSB, FTM, VGX, GRT, ALGO, CRV, KSM, SUSHI, MATIC, ICP, XDC, RUNE, TEL, VET and SNX. Of these, CHSB rebounded 30% and exceeded the USD 0.90 level.
Overall, Bitcoin price is picking up pace above the resistance level of $ 46,500. However, BTC will have to cross the USD 48,000 mark in the short term for the upward trend to continue.
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