Bitcoin price formed a support base above the USD 47,000 and USD 48,000 levels. As a result, BTC began another spike above $ 49,500. There has been a definite break above $ 50,000 and the price is showing many positive signs right now (04:00 UTC).

Similarly, most of the major altcoins are gaining upward momentum. ETH climbed above the USD 3,250 and USD 3,300 resistance levels. XRP retested the key resistance zone of $ 1.25. ADA outperformed and rebounded above the $ 2.75 resistance.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

Bitcoin price gained strength after closing above $ 48,000. BTC was able to break through the resistance levels of $ 49,200 and $ 49,500. Eventually there was a break above the $ 50,000 major resistance. It is now consolidating near $ 50,000 and could continue to rise. The next major resistance is at $ 50,500, above which the price could test $ 51,200.

Immediate support on the downside is near the USD 49,500 zone. The next big support is near the $ 49,200 level below which there is a risk of moving towards the $ 48,000 level.

Ethereum price

The price of Ethereum is also rising and it was able to overcome the USD 3,300 resistance. ETH is up 3% and even surpassed the USD 3,325 resistance. If the bulls remain active, there is a chance it will move towards $ 3,420. The next major resistance is at $ 3,500.

On a downward correction, the price could find support at $ 3,250. The main support is now forming near the USD 3,200 mark.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) outperformed with a large move above the USD 2.50 resistance. ADA climbed over 10% and even surpassed the $ 2.75 mark. It is now facing resistance near the USD 2.85 level. Further gains could lead the price towards the USD 3.00 hurdle.

Litecoin (LTC) is gaining pace, trying to close above the USD 188 resistance. If the LTC continues to rise, it could even cross the USD 195 resistance. In the named case, the price could hit the USD 200 resistance. The next major resistance is near the USD 220 mark.

Dogecoin (DOGE) is trading comfortably above the USD 0.320 level. Initial resistance is near $ 0.325 above which price could revisit the $ 0.335 resistance zone. Further gains could move price towards key resistance at $ 0.350.

The XRP price is slowly rising and it recently tested the $ 1.25 resistance. If there is a close above $ 1.25, the price could test the $ 1.30 resistance. On the flip side, the bulls could potentially remain active near the $ 1.232 and $ 1.220 levels.

Different Altcoins Market Today

Many altcoins are up over 8%, including TEL, NANO, AVAX, DASH, CRV, AR, ICX, BAT, XMR, CDX, MIOTA, ONE and ONT. Of these, TEL rose 25%, surpassing the $ 0.025 level.

Overall, Bitcoin price is picking up pace above the USD 50,000 resistance level. If BTC levels off above $ 50,000, it could continue to climb towards $ 52,000.
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Bitcoin reclaims USD 50,000, Ethereum and Cardano gain strength 101

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