Bitcoin price struggled to stay above the $ 48,000 level and started falling again. BTC was trading below the USD 47,500 support level. It is facing spike in selling pressure right now (04:28 UTC) with key support near $ 46,200.
Conversely, many large altcoins gained momentum. ETH is up over 5% and has broken the USD 3,400 resistance. XRP is also rising, topping the $ 1.15 resistance. ADA could rally if it hits $ 2.88.
Total market capitalization
After bitcoin price struggled above $ 48,000, it responded downward. BTC traded below the USD 47,500 and USD 47,200 support levels. The price even traded below $ 46,800 but stayed above $ 46,500. The main collapse support is near the $ 46,200 mark, below which the bears could take control.
On the flip side, there is immediate resistance near the $ 47,200 level. The first major resistance is near the $ 48,000 mark, above which the price could begin a steady recovery towards $ 49,200.
Ethereum price started a steady spike after breaking the $ 3,300 resistance. ETH even climbed above $ 3,400 and tested $ 3,475. Price is now correcting gains but could find bids near $ 3,400 and $ 3,380.
If it rallies again, the price could test the $ 3,500 resistance. Further gains could open the doors for a move towards $ 3,650 in the upcoming sessions.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) is still stuck in a range near the USD 2.80 pivot level. Immediate resistance is at $ 2.85. The key barrier is close to $ 2.88 and $ 2.95. A close above $ 2.95 could trigger a rally towards $ 3.20 or even $ 3.25.
Litecoin (LTC) climbed above USD 172 and tested the USD 175 resistance. It looks like the bulls will encounter resistance near $ 175. If successful, the price could rise towards the $ 188 mark. Further gains could potentially lead the price towards $ 200.
Dogecoin (DOGE) surged above $ 0.280 and tested $ 0.285. However, there was no continuation on the upside and the price corrected downwards. On the flip side, the bulls are active near $ 0.265. The main collapse support is still near the $ 0.250 mark.
The XRP price is up over 5% and has climbed above $ 1.15. The price even topped $ 1.18 and could continue rising towards the $ 1.20 resistance. Further gains could set the pace for a larger move towards the $ 1.25 level. On a downward correction, the price could find bids near $ 1.15.
Different Altcoins Market Today
Many altcoins are up over 5% including KSM, SAND, EGLD, AAVE, DOT, ALGO, AR, UNI, REV, YFI, WAVES, CRV and FTT. Of those, KSM rebounded 19%, surpassing the $ 380 mark.
Overall, Bitcoin price is still struggling below the $ 48,000 and $ 48,500 resistance levels. If BTC doesn’t stay above $ 46,500, it could see a bigger drop.
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