Bitcoin price extended its surge beyond the USD 50,000 zone. However, the bulls failed to gain strength above $ 50,250 and BTC corrected lower. It is currently consolidating earnings (05:23 UTC) and could attempt another break above $ 50,000.
Also, most of the major altcoins are showing positive signs. ETH stayed supported above $ 3,700 and is back at $ 3,800. XRP is consolidating well above $ 1.25 and could climb towards $ 1.30. ADA is also consolidating in a range near the $ 3.00 zone.
Total market capitalization
After the USD 50,000 zone was released, Bitcoin price failed to increase profits. BTC made a high near $ 50,400 and began a downward correction. It fell below $ 49,200, but the bulls were active near $ 48,500. The price is now rising and is back above $ 49,500.
On the flip side, there is immediate resistance near the $ 49,800 level. The main resistance is still near the $ 50,000 mark. A closing price above $ 50,000 could accelerate gains in the short term.
Ethereum price also corrected below $ 3,750 but remained well bid near the $ 3,700 zone. ETH formed a base above $ 3,700 and climbed back above $ 3,800. The next major resistance is at $ 3,850, above which the price could move further towards $ 4,000.
Should there be another downside correction, the price could find support at $ 3,720. The next big support is near the $ 3,700 mark.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) broke the $ 3.00 resistance and tested $ 3.10. Most recently there was a downward correction below $ 3.00 but the price is stable above $ 2.88. The next major support is near $ 2.85 with a risk of moving towards the $ 2.65 support below.
Litecoin (LTC) has broken the USD 185 resistance. It even tested the main resistance of $ 188. LTC is now consolidating near $ 185, with immediate support at $ 180. To move further towards USD 200, the price will have to break the USD 188 resistance zone in the short term.
Dogecoin (DOGE) broke the $ 0.300 resistance but faced sellers below $ 0.312. It tested $ 0.310 before correcting down. Price is now consolidating near $ 0.300, with decent support at $ 0.292. The next big support is near the $ 0.285 level.
XRP price gained pace above the $ 1.28 resistance. However, there was no test of the $ 1.30 resistance. Price corrected lower but bulls are protecting $ 1.28. In the event of further losses, the price could test $ 1.265. Conversely, there could be a renewed increase towards USD 1.30.
Different Altcoins Market Today
Many altcoins are up over 5% including MIOTA, SOL, AVAX, HOT, BTG, CEL, REV, BTT, KSM, WAVES, AUDIO, TRX and NEAR. Of these, MIOTA recovered by 30% and exceeded the USD 1.5 level.
Overall, Bitcoin price is stable above the USD 48,500 and USD 49,200 support levels. If BTC levels out above $ 50,000, it could continue its rally towards $ 52,000.
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