Bitcoin price remained strong above the USD 46,500 support zone. BTC is currently trading in a range below the USD 48,000 resistance (11:45 UTC) and could seek further uptrends. In the above scenario, the bulls could attempt to test the USD 50,000 resistance.

In addition, most of the major altcoins are also gaining pace. ETH has risen above the $ 2,220 level and could rise if there is a closing price above $ 2,320. XRP is also appreciating, but is encountering resistance near USD 1.35. DOGE gained over $ 0.32 and $ 0.34 in traction.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After bitcoin price struggled near $ 48,000, it started trading in a range. Initial support on the downside is at $ 47,200. The first major support is now at $ 47,000 with the risk of a larger decline below that. The next big support for the bulls could be near the $ 45,500 zone.

On the other hand, the major breakout zone is now forming at $ 48,000. A daily close above the $ 48,000 level could set the pace for a test of the $ 50,000 level.

Ethereum price

The Ethereum price is also facing hurdles above $ 3,320. If ETH levels off above $ 3,320 and gathers pace above $ 3,350, it could see a steady spike. The next major resistance to the upside is near the USD 3,500 mark.

On a downward correction, the price could find support near the $ 3,220 and $ 3,200 levels. The next big support is at $ 3,200.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) faces resistance near the $ 1.20 level. It appears ADA may correct downward and test the USD 1.05 support zone. The main support is now forming near $ 1.00. Conversely, a sharp break above $ 1.20 could potentially pave the way for a move towards $ 1.32.

Litecoin (LTC) is slowly rising and could break the USD 188 resistance. The next resistance is at $ 195, followed by the breakout zone at $ 200. If the bulls manage to gain strength above $ 200, the price could rise to $ 220. On the flip side, the $ 180 mark is an immediate support, followed by $ 178.

Dogecoin (DOGE) started a strong rally this morning, breaking the USD 0.300 resistance. The price even topped $ 0.340 and could gain further momentum above $ 0.350. The next stop for the bulls could be near the $ 0.365 level.

XRP price rose above the $ 1.30 resistance level before correcting lower. It is now consolidating its gains and trading well above the USD 1.25 support. The main roadside assistance now forms at USD 1.20. On the downside, the price could climb to $ 1.45 if it clears $ 1.32.

Different Altcoins Market Today

Many altcoins are up over 10% today, including SOL, LUNA, FTM, REV, ONE, THETA, KSM, AVAX, LINK, RUNE, COMP, VGX, HT, AAVE, DOT, ICX, EOS and CAKE. Of these, SOL rallied over 35% and broke the USD 60.00 mark.

To sum up, Bitcoin price is still trading well above the USD 45,500 and USD 46,500 support levels. However, BTC will have to settle above USD 48,000 in the short term to continue the uptrend.
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Bitcoin and Ethereum trade within reach, Altcoins Rally 101

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