Bitcoin and Ethereum Struggle, ADA, SOL Rally
- Bitcoin price is still struggling to clear the USD 47,000 resistance.
- Ethereum is facing a major hurdle near USD 3,550, XRP might test the USD 1.15 resistance.
- SOL rallied by 28% and it broke the USD 200 level.
Bitcoin price is currently (12:23 PM UTC) consolidating above the USD 46,000 zone. BTC could rise steadily if it clears the USD 47,000 resistance zone. Conversely, there is a risk of a break below the USD 45,500 support zone in the near term.
Besides, most major altcoins are slowly rising. ETH is rising and it could gain pace if there is a close above USD 3,550. XRP is back above USD 1.10, but it is still facing hurdles near USD 1.15. ADA is up over 8% and it is trading above the USD 2.55 resistance.
Total market capitalization
Recently, bitcoin price settled above the USD 46,000 zone. An immediate barrier for the bulls is near USD 47,000. The first major resistance for BTC is still near USD 47,200. A close above this level is needed for a steady increase. In this case, the price could rise towards the USD 48,000 level. The next major resistance is near the USD 48,500 level.
On the downside, an initial support is near the USD 46,000 level. The next major support is near USD 45,500, below which there is a risk of a move towards USD 45,000.
Ethereum price is consolidating above the USD 3,400 and USD 3,420 levels. An immediate resistance is near the USD 3,500 level. The main resistance is still near USD 3,550, above which the price could rise steadily. The next major stop for the bulls is near the USD 3,620 level.
If there is a downside correction, the price could find bids near USD 3,420. A break below USD 3,420 and USD 3,400 might lead the price towards USD 3,300.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) started a stronger increase above the USD 2.50 resistance. It even broke the USD 2.55 resistance and it might continue to rise towards the USD 2.65 level. Any more gains could set the pace for a move towards the USD 2.72 level. On the downside, the bulls might remain active near USD 2.50.
Litecoin (LTC) is trading in a range between USD 180 and USD 185. An immediate barrier is near the USD 185 level. The main resistance is still near the USD 188 level. A proper break above USD 188 could open the doors for a move towards the USD 200 level.
Dogecoin (DOGE) is back above USD 0.250 and it is consolidating gains. The bulls are facing resistance near USD 0.265. A clear break above USD 0.265 may possibly open the doors for a move towards the USD 0.280. If there is a downside correction, the price might find bids near USD 0.235.
XRP price is up almost 3% and it is trading near the USD 1.12 pivot level. The price could rise towards the USD 1.15 resistance zone. A close above USD 1.15 may possibly open the doors for a move towards the USD 1.20 level.
Other altcoins market today
Many altcoins are up over 10%, including RAY, FTM, IOST, EGLD, MINA, ONE, SOL, HBAR, REV, CELO, WAVES, and AR. Out of these, RAY rallied over 40% and it broke the USD 15 level.
To sum up, bitcoin price struggles to rise towards the USD 47,000 resistance. However, if there is a close above USD 47,000 and USD 47,200, BTC might start a steady increase.