Bitcoin price bounced back from losses and climbed above $ 49,200. BTC is currently (11:46 UTC) trading over $ 50,000. A closing price above this level could push the price up in the short term.
Also, most of the major altcoins trade in a positive zone. ETH regained strength and broke the $ 3,900 mark. XRP is consolidating near the USD 1.265 support. ADA could regain momentum if it levels above the $ 3.00 resistance.
Total market capitalization
After a brief downward correction, Bitcoin price began spiking again above $ 49,000. BTC topped $ 49,500 and $ 50,000. A successful close above $ 50,000 could start a new rally. The next major resistance is at $ 52,000. Medium resistance could be $ 51,200.
On a downward correction, the price could find support at $ 49,200. The next big support is now forming near the $ 48,500 mark.
Ethereum price started a new rally above the USD 3,800 resistance. ETH is up nearly 6% and was trading near the $ 4,000 mark. If it breaks above $ 4,000, the price could move towards $ 4,200.
If corrected down, the price could find bids near the $ 3,900 level. The next big support is near the USD 3,850 mark.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) corrected below the $ 3.00 level. It even tested the $ 2.90 level and is consolidating into a range. If it rallies again, the price could accelerate towards the $ 3.10 and $ 3.12 levels. The next major resistance is near the $ 3.20 level.
Litecoin (LTC) is picking up pace and has broken the USD 188 resistance zone. The main hurdle is now near the $ 200 mark. A closing price above $ 200 could trigger another spike. On a downward correction, the price could find support at $ 185. The next big support is now forming near the USD 180 level.
Dogecoin (DOGE) is struggling to overcome the USD 0.300 resistance. If the bulls succeed, the price could move towards $ 0.312. The next major resistance is near the $ 0.320 level. On the flip side, the price could potentially remain stable above the $ 0.280 level.
The XRP price failed to clear $ 1.295 and $ 1,300, respectively. It corrected lower and traded below $ 1,280. The price is now at $ 1.265. The next big support is at $ 1.25 with the threat of a sharp decline below that. Conversely, the price could hit the USD 1.30 resistance zone.
Different Altcoins Market Today
Many altcoins gained over 5%, including SOL, REV, NEAR, CEL, AUDIO, MIOTA, AVAX, BTT, HOT, ALGO, ZIL, LINK and ICX. Of these, SOL rebounded over 20% and is trading near $ 140.
To sum up, the Bitcoin price is now trying to hit an uptrend above $ 50,000. Should BTC succeed, it could continue to climb towards $ 52,000.
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