Bitcoin and Ethereum Consolidate, SOL and AVAX Rally
- Bitcoin price is consolidating below the USD 48,500 resistance.
- Ethereum could rally if it clears USD 3,880, XRP is consolidating above USD 0.80.
- SOL gained 6%, and AVAX rallied over 15%.
Bitcoin price is attempting a recovery wave above the USD 47,500 level. BTC even surpassed the USD 48,000 level. It is currently (11:30 UTC) consolidating, and it could rally if there is a clear move above the USD 48,500 level.
Similarly, most major altcoins are attempting a steady recovery wave. ETH might gain bullish momentum if there is a clear break above USD 3,880. XRP must gain pace above USD 0.820 for a steady increase. ADA seems to be forming a base for a move towards the USD 1.28 level.
Total market capitalization
Bitcoin price
In the past few hours, the bitcoin price saw a decent recovery wave above the USD 47,500 resistance. BTC even broke the USD 48,000 level and it is aiming for more gains above USD 48,500. A clear break and close above USD 48,500 might push the price towards the USD 50,000 level. The next major resistance is near USD 52,000.
An immediate support on the downside is near USD 47,500. The next major support sits near the USD 47,200 level, below which the price could test USD 46,500.
Ethereum price
Ethereum price is also recovering and showing positive signs above USD 3,800 level. ETH is facing resistance near the USD 3,880 level. If there is an upside break above USD 3,880, the price may even surpass the USD 4,000 level.
If there is no upside break, the price could start a downside correction below USD 3,800. The next key support is near the USD 3,750 level, below which the price could test USD 3,680.
ADA, BNB, SOL, and XRP price
Cardano (ADA) is slowly moving higher above the USD 1.240. It even climbed above USD 1.25 and it seems like the bulls are aiming for USD 1.265. Any more gains could send the price towards the USD 1.28 level in the near term.
Binance Coin (BNB) is struggling to gain momentum above the USD 525 level. The next key resistance is near USD 535, above which it may perhaps test USD 550. If not, there is a risk of a move towards the USD 550 level.
Solana (SOL) is up over 5% and there was a clear move above the USD 165 level. The next key resistance is near USD 172, above which the price could rise towards the main USD 188 resistance level.
DOGE gained pace for a move above the 0.175 level. It even spiked above the USD 0.200 level before correcting gains. An immediate resistance is near the USD 0.185 level, above which it could revisit USD 0.20.
XRP price is consolidating above the USD 0.800 level. If there is an upside break above USD 0.820, the price could rise towards the USD 0.850 level. The next major barrier for the bulls is near USD 0.92.
Other altcoins market today
Many altcoins are up over 5%, including EGLD, AVAX, XDC, CAKE, WAVES, KDA, NEAR, MATIC, KCS, ONE, SOL, and QNT. Out of these, EGLD gained 15% and surpassed the USD 280 level.
To sum up, the bitcoin price is consolidating above the USD 47,500 level. If BTC clears the USD 48,500 zone, there could be a steady move towards the USD 50,000 level.
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