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- The Bitcoin price surpassed the key resistance of USD 50,000.
- Ethereum is back above USD 3,400, XRP is approaching USD 1,08.
- SHIB extended gains, DOGE is up over 11%.
The Bitcoin price remained elevated, breaking through the resistance of USD 48,500. As a result, BTC was able to eliminate the resistance of USD 50,000. It is currently trading (12:09 PM UTC) in a positive zone around the USD 50,000, but there is a risk of a downward correction towards the USD 49,200.
In addition, most large altcoins show positive signs. ETH has been able to climb above the USD 3,350 and USD 3,400 resistance levels. XRP could accelerate if there is a clear break above USD 1.08. ADA consolidates over USD 2.20.
Total market cap
After the Bitcoin price formed a base above USD 47,500, it began a new surge. BTC has been able to overcome major hurdles near USD 49,500 and USD 50,000. It is now consolidating the gains with immediate resistance near the USD50,500 level. The first key resistance is near the USD 51.200 Level, above which the price could rise towards USD 52.000.
Immediate support down is near the USD 49,200 level. The first major support is now forming near USD 48,500, below which the price could test USD 48,000.
Ethereum price is also rising and it broke the USD 3,350 resistance. ETH has even reached the USD 3,400 level, but faces hurdles near USD 3,440. The main resistance is still near the USD 3,480 and USD 3,500 levels, above which the price may accelerate.
If there is a downside correction, the price could find support near USD 3,380. The next big support is near USD 3,350, below which the price could extend its decline towards USD 3,250.
ADA, LTC, DOGE and XRP Price
Cardano (ADA) is still trading in a range above the USD 2.20 Level. Immediate resistance is near USD 2.25. A clear break above USD 2.25 Could increase the chances of a move above the USD 2.32 Resistance. If not, the price could break through the USD 2.20 Support and move towards USD 2.12.
Litecoin (LTC) is gaining pace above USD 165. The price is trading above USD 170 and it seems that the bulls may try a breakthrough above the USD 175 RESISTANCE. If successful, the price may be able to rise towards the USD 188 level. The next big resistance is USD 200.
Dogecoin (DOGE) gained over 11% and is now trading above the USD 0.220 Pivot level. Initial resistance is near the USD 0.242 Level. The first key resistance is USD 0.250, Above which the price could rise towards USD 0.275.
The XRP price is consolidating above the USD 1.00 And USD 1.02 Support levels. It may soon attempt another rise above the USD 1.08 RESISTANCE zone. If the bulls gain strength above USD 1.08, The price may be able to move towards USD 1.20. On the other hand, the bulls could remain active near the USD 1.00 Support zone.
Other Altcoins Market Today
Many altcoins are up over 5%, including SHIB, KLAY, ICP, REN, MINA, ICX, TEL, AMP, VET, DCR, ZIL, WAVES, STX, and RUNE. Of these, KLAY rose nearly 16%, breaking through the level of USD 1.4, While SHIB extended its gains to USD 0.000014 And has now risen 57% in one day.
In summary, the Bitcoin price is gaining pace and has cleared a major hurdle near USD 50,000. If BTC settles above USD 50,000, it could rise towards USD 52,000.