- Bitcoin price could continue to rally if it breaks the USD 57,200 resistance.
- Ethereum faces resistance at $ 3,650, XRP is consolidating below $ 1.20.
- SHIB and OHM are up over 13%.
Bitcoin price started rising again after a slight downward revision below $ 55,500. BTC is back above the $ 56,000 level. It is showing positive signs right now (11:59 UTC) and could continue to climb above $ 57,200.
Also, most of the major altcoins are traded in a row. ETH is also rising but is facing resistance near the USD 3,650 mark. XRP could gain momentum if it settles above the $ 1.20 level. ADA faces a major hurdle near $ 2.30 and $ 2.32.
Total market capitalization
After falling slightly, the price of Bitcoin began rising again above the $ 55,500 pivot level. BTC even broke the $ 56,000 mark to enter a positive zone. Immediate resistance is near the USD 57,000 mark. The next major resistance is at $ 57,200. A closing price above $ 57,200 could accelerate gains and the price could even climb above $ 58,000.
On the flip side, immediate support is near the $ 56,000 mark. The first major support is near the $ 55,500 mark. Further losses could potentially trigger a larger correction towards the $ 54,000 mark.
The Ethereum price remained stable above the $ 3,500 level. ETH started another spike and overcame the $ 3,550 resistance. It is now facing resistance near the USD 3,620 mark. The next major resistance is now at $ 3,650, above which the price could test $ 3,720.
On the flip side, initial support is near the $ 3,500 mark. The main roadside assistance is now forming near the USD 3,400 and USD 3,350 levels.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) consolidates above the $ 2.20 level. Immediate resistance is near the $ 2.25 level. The first major resistance is near the $ 2.30 level. The breakout zone is at $ 2.32, above which the price could rise in the short term.
Litecoin (LTC) is consolidating near the USD 180 mark. It appears the bulls are preparing for an upside break above the USD 188 resistance. If this succeeds, the price could rise towards the $ 200 mark in the short term.
Dogecoin (DOGE) corrected down from the USD 0.250 resistance. If there is a downside break below the USD 0.232 support, the price could drop further. The next big support is near the USD 0.200 level. On the downside, the $ 0.250 level is a huge barrier for the bulls.
XRP price is also correcting gains but is stable near the $ 1.15 level. If it rallies again, the bulls could face resistance near the $ 1.20 level. A closing price above $ 1.20 could result in a steady increase in the short term.
Different Altcoins Market Today
Some altcoins are up over 5%, including MDX, SHIB, DYDX, AR, PERP, DCR, and OHM. Of these, OHM rebounded 18%, surpassing the $ 1,135 mark.
To sum up, Bitcoin price is now gaining momentum above the $ 56,000 level. If BTC breaks through $ 57,200, it could seek additional gains towards the $ 58,500 and $ 59,500 levels.
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