Bitcoin and Ethereum Correct Gains, Altcoins Remain Elevated
Bitcoin price traded to a new all-time high near USD 48,200 before correcting. Ethereum also traded to a new all-time high at USD 1,825, XRP is holding gains above USD 0.465. BNB gained over 25% and it seems to be approaching the USD 100 level.
Bitcoin price extended its rally above the USD 45,000 and USD 46,500 resistance levels. BTC even surpassed USD 48,000 briefly, hitting its new all-time high. It is currently (12:45 UTC) correcting gains and trading well below USD 46,500.
Similarly, ethereum climbed above USD 1,800, traded to a new all-time high at USD 1,825, and it is correcting lower. Besides, most other major altcoins remain in a steady uptrend. XRP/USD is holding the USD 0.465 and USD 0.450 support levels.
Total market capitalization
There was a strong increase in bitcoin price above the USD 45,000 resistance level. BTC even cleared the USD 47,500 level and traded to a new all-time high near USD 48,200. Recently, there was a downside correction below USD 47,500 and the price declined below USD 47,000. The price is now approaching the USD 45,000 level, below which it could test the USD 42,500 support.
On the upside, the price is facing hurdles near USD 47,200 and USD 47,500. A fresh break above USD 47,500 might push the price to a new all-time high.
Ethereum price followed a positive path and it climbed above the USD 1,770 resistance level. ETH even cleared the USD 1,800 level, but upsides were limited. It traded to a new all-time high near USD 1,825 before correcting lower sharply.
The price is now trading in a range above USD 1,720, with the next key support at USD 1,700. On the upside, the price must settle above USD 1,800 for upside continuation in the near term.
ADA, litecoin and XRP price
Cardano (ADA) failed to stay above the USD 0.700 level and corrected lower. ADA is now trading just above the USD 0.670 support. The main support is now forming near the USD 0.655 level, below which there is a risk of a larger decline. On the upside, a close above USD 0.700 could start a strong increase in the coming sessions.
Litecoin (LTC) is showing positive signs above USD 165 level. On the upside, the USD 172 level is a short-term resistance. The next key resistance could be near USD 188. If the price fails to stay above the USD 165 support, it could correct lower towards the USD 155 level.
XRP price is still holding gains above the USD 0.465 support level. The first key resistance sits at USD 0.480. The next major resistance is near the USD 0.492 level, above which the bulls might aim a break above the USD 0.500 resistance zone. If there is a fresh decline, the price might struggle to stay above USD 0.465 and it could test USD 0.450.
Other altcoins market today
Many altcoins gained over 15%, including LUNA, CAKE, BNB, FIL, DGB, MIOTA, TRX, STX, XVG, FTT, OKB, NANO, HEDG, and BSV. Out of these, BNB is surging, getting closer to the USD 100 barrier.
To sum up, bitcoin price is correcting gains below USD 47,000. However, the USD 45,000 level might provide support. Any more losses could lead BTC towards USD 42,500.