Bitcoin and Ethereum Eye Additional Gains, AVAX Flips DOGE, Enters Top 10
- Bitcoin price is consolidating below the USD 50,000 resistance.
- Ethereum nears USD 4,080, XRP could accelerate if it clears USD 0.85.
- AVAX gained 18% and broke the USD 100 level.
Bitcoin price was able to recover above the USD 48,500 resistance levels. BTC is currently (12:03 UTC) facing resistance near the USD 49,500 zone. A close above USD 50,000 could start a stronger increase in the near term.
Similarly, most major altcoins are moving higher. ETH could extend gains if it clears the USD 4,080 and USD 4,120 resistance levels. XRP is aiming for a key upside break above USD 0.850. ADA is consolidating gains near the USD 1.30 level.
Total market capitalization
After a decent recovery wave, bitcoin price faced resistance near the USD 49,500 level. The main hurdle is still near the USD 50,000 level. A close above USD 50,000 might start another increase in the near term. The next key resistance is near the USD 51,200 level, above which the price could revisit the USD 52,000 zone.
If there is a downside correction, an initial support on the downside is USD 48,200. The next major support is near the USD 47,500 level, below which the price could struggle to stay in the positive zone.
Ethereum price was able to surge above the USD 4,000 level. ETH is now facing resistance near the USD 4,080 and USD 4,120 levels. The next key resistance is near the USD 4,200 level, above which the bulls might test USD 4,350.
An immediate support on the downside is near the USD 3,950 level. The next key support is near the USD 3,880 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) gained pace for a move above the USD 1.30 level. The price is now consolidating and facing resistance near the USD 1.32 level. The next key resistance is near USD 1.35. If there is a downside correction, the price may possibly find bids near USD 1.265.
Binance coin (BNB) gained pace for a move above the USD 525 level and broke the first key resistance at USD 542. Any more gains could open the doors for a move above the USD 550 level. The next key resistance is near the USD 565 level.
Solana (SOL) is up 11% and there was a clear break above the USD 180 resistance. It is now approaching the USD 188 barrier. If the bulls remain in action, the price could revisit the USD 200 support level.
DOGE is still consolidating gains near the USD 0.180 level. An immediate resistance is near the USD 0.188 level. However, the main resistance is near the USD 0.20 zone, above which the price could test USD 0.22.
XRP price is trading in a range above the USD 0.820 resistance zone. The first major hurdle is USD 0.850. A clear move above the USD 0.850 level could set the pace for a move towards the USD 0.92 resistance.
Other altcoins market today
Many altcoins are up over 10%, including BORA, KDA, XDC, STX, HNT, AR, AVAX, ONE, FTM, EGLD, HBAR, and OKB. Out of these, AVAX rallied 18% and is now nearing USD 110. It also flipped DOGE and LUNA, becoming the 10th largest cryptoasset by market capitalization. Its price is also up by 10% in a week.
To sum up, bitcoin price is consolidating below the USD 50,000 level. A clear move above USD 50,000 might open the doors for a move towards the USD 52,000 level.