- Bitcoin corrects gains near USD 54,000.
- Ethereum is stable above USD 3,500, XRP slips below USD 1,08.
- SHIB is up 48% and FTM is up over 30%.
The Bitcoin price extended its upward movement above the USD 55,000 level before correcting downward. BTC is currently trading near USD 54,000 (13:08 UTC), but could remain relatively stable unless there is a break below USD 53,200.
Meanwhile, most large altcoins are looking for a direction. ETH is back above USD 3,500 and could accelerate towards USD 3,700. XRP fell back below USD 1.08, While ADA corrected towards USD 2.30.
Total market capitalization
Bitcoin Price
After a clear break above USD 55,000, the Bitcoin price failed to test the USD 56,000 level. BTC tested the USD 55,750 zone before correcting down. The price is now trading near USD 54,000, with key support near USD53,500. The main break support is now forming near the USD 53,200 level. Other drawbacks could set the pace for a move towards USD 50,000.
On the upside, the price faces resistance near USD 55,000, above which BTC could continue its uptrend.
Ethereum Price
The Ethereum price started a new surge after a minor downside correction below USD 3,500. ETH is back above this level and if there is a close above USD 3,600 and USD 3,620 there could be more gains. The next key resistance is now near USD 3,700.
On the other hand, immediate support is near the USD 3,500 level. The next big support is near USD 3,450, below which the price could test USD 3,400.
ADA, LTC, DOGE and XRP Price
Cardano (ADA) was able to clear USD 2.25 Resistance level. The price also exceeded the level of USD 2.30. If it clears the USD 2.32 Level, the price could move towards USD 2.40. The next big resistance is near the USD 2.50 Level.
Litecoin (LTC) is now unchanged on a day, trading above the key USD 175 resistance, while bulls may try a break above the USD 188 resistance. If successful, the price could rise towards USD 200.
Dogecoin (DOGE) is showing positive signs above the USD 0.250 Level, but is still down 4% in one day. It now faces resistance near the USD 0.265 Level. A close above USD 0.265 Could set the pace for a larger increase. The next major barrier is near the USD 0.280 Level.
The XRP price is showing positive signs above the USD 1.05 Level. It attempts a break above the USD 1.08 And USD 1.10 Levels. A successful close above USD 1.10 Could set the pace for a larger increase. In this case, the price could rise towards USD 1.20.
Other Altcoins Market Today
Many altcoins are up over 8%, including SHIB, FTM, AR, BTG, BSV, XLM, DOT, DASH, KSM, NEAR, LUNA, OKB, and BCH. Of these, SHIB is still rising and it’s up 48%.
In summary, the Bitcoin price corrects gains below USD 55,000. However, BTC could remain stable near USD 53,200 and trigger a new surge.