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- Bitcoin price surged towards USD 50,000 before correcting lower.
- Ethereum corrects down from USD 3,500, XRP has settled above the USD 1.00 Resistance.
- AXS gained 25% and DYDX gained over 14%.
The Bitcoin price extended its rise above the resistance levels of USD 46,500 and USD 48,000. BTC even broke the USD 49,200 level, but there was no test of USD 50,000. It is currently correcting lower (04:31 UTC) and trading below USD 48,000.
Similarly, most large altcoins correct lower. ETH retreated to the bottom after failing to test USD 3,500 resistance. XRP was able to settle above the USD 1.00 Pivot level. ADA rose towards USD 2.32 Before correcting lower.
Total market capitalization
After closing above $46,500, the Bitcoin price extended its rise. BTC broke the resistance levels USD 48,000 and USD 48,500. The price even rose above the USD 49,000 level and tested USD 49,250. It is now correcting lower and trading below USD 48,000. On the other hand, immediate support is close to USD47,200. The first major support is now forming near the USD 46,500 level.
An immediate hurdle is near the USD 48,000 level. The next key resistance is near the USD 49,250 level, above which the price could test the main barrier of USD 50,000.
The Ethereum price rose above the resistance of USD 3,150. ETH even broke the resistance of USD 3,380, but could not test the USD 3,500 zone. A high was formed near USD 3,480 before a downward correction occurred. It is now trading near USD 3,320, with immediate support at USD 3,250. The main weekly support is at USD 3,200.
On the upside, initial resistance is near the USD 3,420 level. The main breakout resistance is now near the USD 3,480 and USD 3,500 levels.
ADA, LTC, DOGE and XRP Price
Cardano (ADA) gained pace for a move above the USD 2.20 Level. It even rose above USD 2.30, But it failed near USD 2.32. The price is back below USD 2.20, But the bulls could remain active near the USD 2.12 Level. The next big support is near USD 2.05
Litecoin (LTC) rose above the USD 155 and USD 165 resistance levels. It tested the USD 175 level before correcting lower. It is now trading near USD 165, with initial support at USD 160. The main break support is now forming near USD 155.
Dogecoin (DOGE) was able to overcome the USD 0.212 Resistance level. It even exceeded USD 0.220, But there was no continuation of the upward trend. The price is consolidating near USD 0.215, With many supports on the downside near USD 0.212 And USD 0.205.
The XRP price gained pace for a move above the main resistance of USD 1.00. It even broke through the level of USD 1.05, But struggled near USD 1.08. XRP is now consolidating above USD 1.00.
Other Altcoins Market Today
Some altcoins are up over 5%, including AXS, DYDX, ALGO, TEL, HNT, CRV, HOT, SHIB, XTZ and EOS. Of these, AXS rose 25%, surpassing the USD 135 level.
Overall, the Bitcoin price is trading in a positive zone above the USD 47,000 level. In the short term, there could be a downward correction, but the bulls could position themselves near USD 45,500 or USD 45,000.