Bitcoin, Ethereum and Altcoins Try to Gain Bullish Momentum
- Bitcoin price is showing positive signs above USD 47,000.
- Ethereum could rally further to USD 3,750, XRP stuck near USD 1.12.
- SUSHI rallied over 22% and it broke the USD 18 level.
Bitcoin price remained well bid above the USD 46,000 and USD 46,500 levels. BTC extended its increase above USD 47,000 and it even broke the USD 48,000 resistance. It is currently (12:13 PM UTC) correcting gains, but the bulls might be active near USD 47,000.
Besides, most major altcoins are eyeing more upsides. ETH is trading above USD 3,600 and it could even clear the USD 3,650 level. XRP could start a steady increase if it clears USD 1.12. ADA must settle above USD 2.50 for a sustained upward move.
Total market capitalization
After a steady move above USD 48,000, bitcoin price faced sellers near USD 48,500. Recently, there was a downside correction and BTC traded below USD 48,000. However, downsides were limited below USD 47,200 and USD 47,000. On the upside, an immediate resistance is near the USD 48,200. The first major resistance is near the USD 48,500 level, above which the price could rise towards USD 49,200.
On the downside, an immediate support is USD 47,400. The first major support is near USD 47,000, below which the price could test USD 46,500.
Ethereum price remains in a bullish trend and it settled well above the USD 3,500 level. ETH is rising and it could attempt a close above USD 3,600. If the bulls succeed, the price could rise further towards the USD 3,650 level. The next major resistance on the upside could be USD 3,720.
An initial support is near the 3,520 level. The first major support is at USD 3,500. Any more losses may possibly lead the price towards the USD 3,440 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is stuck near the USD 2.45 level. To start a steady increase, it must clear the USD 2.50 and USD 2.55 resistance levels. In this case, the price may even clear USD 2.65. The next key resistance is near USD 2.80. If there is a fresh decline below USD 2.40, the price might retest the USD 2.32 level.
Litecoin (LTC) is up 5% and it broke the USD 188 resistance. It seems like the bulls are aiming for a test of the USD 200 level. Any more gains could open the doors for a move towards the USD 220 level. If there is a downside correction, the bulls might remain active near USD 180.
Dogecoin (DOGE) is still facing a major resistance near the USD 0.250 level. A proper break above the USD 0.250 level could set the pace for a stronger increase. The next major resistance is at USD 0.265, above which the price might test USD 0.280.
XRP price is aiming for a clear break above the USD 1.12 resistance level. In this case, the price could rise steadily towards the USD 1.20 level. If not, there could be a downside correction towards the USD 1.05 level. The main breakdown support is near the USD 1.00 level.
Other altcoins market today
Many altcoins are up over 5%, including REN, ZEN, SNX, SUSHI, RUNE, AVAX, CRV, ZRX, WAVES, ALGO, MATIC, and MKR. Out of these, ZEN and SUSHI are up over 18%.
To sum up, bitcoin price is rising steadily above USD 47,200. If BTC clears the USD 48,500 resistance, there could be a move towards the USD 50,000 level.