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- The Bitcoin price could extend its rally to USD 52,000.
- Ethereum needs to settle above USD 3,550 to accelerate, XRP is struggling to reach USD 1.08.
- SHIB collected 66% and is now the best performer among the top 100 coins.
The Bitcoin price is showing positive signs above the USD 50,000 pivot level. BTC could attempt a close above USD 52,000 in the near future. It is currently (11:58 UTC) well supported and a close above USD 52,000 could push the price up.
Also, most large altcoins may be able to start a new surge. ETH needs to settle above USD 3,550 to continue rising towards USD 3,700 or even USD 3,750. Similarly, XRP could accelerate higher if there is a close above USD 1.08 And USD 1.10. ADA still faces strong resistance near USD 2.32.
Total Market Cap
After closing above USD 50,000, the Bitcoin price surpassed the resistance of USD 51,500. BTC remains elevated and could try to close above the USD 52,000 level. A successful close above this level could trigger a steady increase. The next important resistance is near the USD 53.200 Level, above which the price could rise towards the USD 55,000 level.
If there is a downside correction, the bulls could remain active near the USD 50,000 level. If there is a downtrend below USD 50,000, the price could move further down in the near future.
Ethereum price also settled above the USD 3,350 pivot level and USD 3,400. ETH now faces a major hurdle near USD 3,550 and USD3,565. A close above USD 3,550 could open the doors for a significant increase. The next key resistance is now near the USD 3,620, above which the price could test USD 3,700.
On the other hand, initial support is near the USD 3,400 level. The next big support is near USD 3,350, below which there is a threat of a sharp decline.
ADA, LTC, DOGE and XRP Price
Cardano (ADA) faces a difficult task near the USD 2.30 And USD 2.32 Levels. To start a stronger increase, the price must first settle above the USD 2.32 Level. If not, the price could fall towards the USD 2.02 And USD 2.00 Support levels.
Litecoin (LTC) is trying to settle above the USD 175 level. If successful, the price could test the resistance of USD 188. The next key resistance is USD 200. Conversely, a default near USD 175 or USD 178 can potentially trigger a downside correction towards USD 162 or even USD 160.
Dogecoin (DOGE) rose above the USD 0.250 Level before correcting downward. If the bulls remain in action, the price could rise towards USD 0.280. The next big hurdle for the bulls is near the USD 0.300 Level. On the other hand, the bulls could remain active near $ 0.240.
The XRP price needs to settle above the USD 1.08 And USD 1.10 Levels to enter a positive zone. The next big stop for the bulls could be USD 1.20. If there is no upside break, the bears could try a break below USD 1.00.
Other Altcoins Market Today
Many altcoins have risen by over 5%, including SHIB, SC, THETA, XEM, XDC, BSV, BCH, NEO and HOT. Of these, SBIH collected 66% and it could continue to gain traction. However, after a similar rally in May, SHIB crashed sharply.
In summary, the Bitcoin price is showing positive signs above USD 50,000. If BTC settles above USD 52,000, this could help the price accelerate towards USD 55,000.