Bitcoin Extends Rally, Ethereum and Altcoins Remain Supported

• The Bitcoin price extended its rise above the USD 51,200 resistance.
• Ethereum rose above USD 3,500, XRP is still below USD 1,08.
• SHIB rallied over 65% and THETA gained 10%.

Bitcoin price settled above the USD 50,000 pivot level. As a result, BTC extended its rise, surpassing the resistance of USD 51,200. It is currently (04:37 UTC) consolidating the gains with a key barrier near USD 52,000.

In addition, most large altcoins trade in a positive zone. ETH managed to rise above the resistance of USD 3,500 before correcting down. XRP is still trading below USD 1.08, While ADA is stable above USD 2.20 But faces resistance near USD 2.32.

Total market capitalization

Bitcoin Price

In recent sessions, the Bitcoin price gained pace for a steady rise above USD 50,000. BTC broke many hurdles near USD 50,500 and USD 51,200. It even traded near USD 52,000 before correcting lower. Immediate support down is near the USD 51,200 level. The first major support is at USD 50,500, below which the price could revisit USD 50,000.

On the upside, the price faces resistance near USD 51,800. The first key resistance is near the USD 52,000 level, above which the price could accelerate towards USD 53,200.

Ethereum Price

The Ethereum price also gained pace above the USD 3,400 resistance. ETH rose above the resistance of USD 3,440 and even rose above USD 3,500. The price is USD 3,550 and now consolidates the profits. On the upside, initial resistance is near the USD 3,550 level. The next key resistance is now near the USD 3,620, above which the price could test USD 3,700.

If there is a downward correction, the price could test the support levels of USD 3,450 and USD 3,440. The next big support is near USD 3,380.

ADA, LTC, DOGE and XRP Price

Cardano (ADA) consolidates above the USD 2.20 Level. Immediate resistance is near the USD 2.25 Level. The main barrier is still near the USD 2.32 Level. A close above USD 2.32 Could open the doors for a steady rise. The next key resistance is near the USD 2.50 Level.

Litecoin (LTC) extended rise above the USD 172 level. However, the price is still struggling to eliminate the main USD 175 resistance. If there is a clear break above USD 175, the price may potentially rise towards USD 188. On the other hand, the USD 165 level is a decent support.

Dogecoin (DOGE) is rising and trading above USD 0.250. Bulls may soon attempt a clear break above the USD 0.265 Level. The next key resistance is near the USD 0.275 Level.

The XRP price made another attempt to eliminate the USD 1.08 Resistance but failed. It is now consolidating near USD 1.06 And it seems the bulls could once again attempt a clear break above USD 1.08. If not, the price could slide towards USD 1.02 Support.

Other altcoins market today

Many altcoins are up over 5%, including SHIB, SC, THETA, XEM, MINA, JED, XDC, CHZ, BCH, NEO, KLAY, HOT, and BTT. Of these, SBIH launched a new rally and gained over 65% in one day, reaching USD 0.00002162.

Overall, the Bitcoin price is gaining pace above the USD 51,000 level. However, the USD 52,000 level could represent resistance in the short term.