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- The Bitcoin price extended its rise above the resistance of USD 54,000.
- Ethereum consolidates near USD 3,500, XRP reached USD 1,08.
- SHIB holds rally and is now the 12th Largest coin by market capitalization.
The Bitcoin price extended its upward movement above the USD 52,000 resistance. BTC was able to move above the resistance of USD and rose above USD 55,000. It is currently consolidating (04:32 UTC) gains above USD 55,000 and could continue to rise above USD 55,500.
On the other hand, most large altcoins struggle to gain pace. ETH is consolidating near the USD 3,500 pivot, while XRP eventually reached the USD 1.08 Resistance levels. ADA moved back closer to USD 2.20.
Total market capitalization
After a successful break above USD 52,000, the Bitcoin price extended its rally. BTC was able to move above the USD 53,200 and USD 54,500 resistance levels. It even surpassed USD 55,000 and tested USD 55,750. The price now consolidates the gains with immediate support at USD 54,500. The first major support is at USD 54,000, below which the price could test USD 53,200.
On the upside, the price is encountering resistance near USD 55,500. The first key resistance is near the USD 56,200 level, above which the price could accelerate towards USD 57,800.
Ethereum price settled above the USD 3,500 pivot level. However, ETH is struggling to gain momentum above the USD 3,550 and USD 3,580 levels. The next key resistance is now near USD 3,620, above which the price could rise towards USD 3,750.
On the other hand, initial support is near the USD 3,450 and USD 3,440 support levels. The next big support is near USD 3,400, below which the price could test USD 3,350.
ADA, LTC, DOGE and XRP Price
Cardano (ADA) has not been able to overcome the resistance level of USD 2.25 And is now trading below USD 2.20, But is showing some positive signs. If the bears remain in action, there is a risk of movement towards USD 2.12. The next big support is near the USD 2.05 Level.
Litecoin (LTC) managed to climb above the important USD 175 resistance. The next key resistance is near the USD 185 and USD 188 levels. If there is a clear break above USD 188, the price could accelerate towards USD 200. On the other hand, the USD 172 level is a decent support.
Dogecoin (DOGE) rose above the resistance levels USD 0.250 And USD 0.265. However, it failed to test the resistance of USD 0.280 And corrected lower. It is now trading below USD 0.250 And could move further towards the USD 0.232 Support level.
The XRP price is consolidating near the USD 1.05 Level. On the upside, the price faces resistance near USD 1.10. A close above this level could set the pace for a move towards USD 1.20. If there is a decline, the price could test USD 1.00.
Other altcoins market today
Many altcoins are up to over 5%, including SBIH, AR, BTG, FTM, XLM, DYDX, BTCB, WBTC, XMR, KLAY, and CRO. Of these, SBIH remained in a big uptrend and continued to rise by 36% in one day, reaching USD 0.00003. The price has now risen by 336% in one week.
Overall, the Bitcoin price is showing positive signs above the USD 54,000 level. BTC could correct lower, but the dips could be limited below the USD 43,200 level.