Bitcoin and Ethereum Inch Higher, AVAX Rallies
- Bitcoin price is up 6% and it surpassed the USD 48,500 resistance.
- Ethereum climbed above USD 4,000, XRP could clear USD 0.90.
- AVAX rallied 15% and surpassed the USD 115 level.
Bitcoin price started a fresh increase from the USD 45,500 support zone. BTC was able to clear the USD 46,500 and USD 47,500 resistance levels. It is currently (11:54 UTC) trading above USD 48,900 and there could be more upsides in the near term.
Similarly, most major altcoins are gaining bullish momentum. ETH is also up 6% – it surpassed the USD 4,000 resistance level to move into a positive zone. XRP increased 4% and is approaching USD 0.90. ADA surpassed USD 1.25 and there could be more gains.
Total market capitalization
Bitcoin price
After a clear move above USD 46,500, bitcoin price gained bullish momentum. BTC was able to clear the USD 47,500 and USD 48,000 levels. It even climbed above USD 48,500 and there are chances of a move towards the USD 49,200 level. The next resistance is near the USD 50,000 zone, above which the price could rise towards the USD 51,200 level.
On the downside, an initial support is near the USD 48,000 level. The next major support is near USD 47,500, below which the price may perhaps revisit USD 46,000.
Ethereum price
Ethereum price also started a fresh increase above the USD 3,880 resistance. ETH even cleared the USD 4,000 level and approached USD 4,050. A clear break above USD 4,050 could open the doors for a stronger upward move in the near term.
If there is a fresh downside correction, the price might find support near USD 3,920. The next key support is near the USD 3,880 level, below which the price might test USD 3,750.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is rising above the USD 1.25 level. If the bulls remain in action, it could rise towards the USD 1.28 level. The next major stop for the bulls could be USD 1.30.
Binance coin (BNB) was able to clear the USD 525 resistance. It is now rising towards the USD 535 level. Any more gains may possibly send the price towards the USD 550 level. The next key resistance is near the USD 565 level.
Solana (SOL) is up 4% as the bulls pushed the price above the USD 175 level. It is now attempting a close above the USD 180 level. If the bulls succeed, the price could rise towards the USD 188 resistance zone. The next resistance is near the USD 200 level.
DOGE is recovering and trading above the USD 0.170 level. The next key resistance is near the USD 0.175 level. A clear move above USD 0.175 might lead the price towards the USD 0.188 level.
XRP price is trading above the USD 0.880 level. An immediate resistance is near the USD 0.90 level, above which it could test USD 0.920. The next major resistance is near USD 0.955.
Other altcoins market today
Many altcoins are up over 8%, including ONE, HNT, AVAX, RUNE, HOT, MATIC, SHIB, KDA, BAT, GRT, and CRV. Out of these, AVAX gained over 15% and surpassed the USD 119 level. The price is also up 51% in a week.
To sum up, bitcoin price is rising and trading above USD 48,500. If BTC remains stable, it could test the USD 50,000 barrier in the near term.
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