Bitcoin and Ethereum Show Bullish Signs, Altcoins Rally
- Bitcoin price is consolidating gains above USD 50,000.
- Ethereum is showing positive signs above USD 4,000, XRP could attempt an upside break above the USD 1.00 resistance.
- ELON and SAND are still up over 20%.
Bitcoin price gained pace for a move above the USD 50,000 level and even surpassed the USD 50,500 level. It is currently (11:30 UTC) showing positive signs. An upside break above USD 51,200 could spark a fresh rally in the near term.
Similarly, most major altcoins are slowly gaining momentum. ETH is stable above USD 4,000 and could gain pace above USD 4,120. XRP might rally if there is a move above the USD 1.00 resistance. ADA is consolidating near the USD 1.45 level.
Total market capitalization
After a close above USD 50,000, bitcoin price extended increase. BTC even broke the USD 51,200 level and spiked to USD 51,500. Recently, there was a minor downside correction below the USD 51,000 level. However, the bulls are active near the USD 50,500 level. The next major support is near USD 50,000, below which the price might start a fresh decline.
If there is a fresh increase, the price might face resistance near USD 51,200. The next resistance is near the USD 51,500 zone, above which the price could climb towards USD 53,500.
Ethereum price is also showing a few positive signs above the 4,000 resistance zone. ETH is now facing resistance near the USD 4,080 and USD 4,120 levels. A close above USD 4,120 might push the price towards the USD 4,250 level.
An immediate support is near the USD 4,020 level. The next key support is near the USD 4,000 level, below which the price might decline towards USD 3,920.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) gained pace for a move above the USD 1.40 level. The price even climbed above USD 1.45 and is currently consolidating gains. If the bulls remain active, the price could rally towards the USD 1.50 level.
Binance Coin (BNB) is attempting an upside break above the USD 550 resistance level. The price could gather pace if there is a close above USD 550. Conversely, there could be a downside correction towards the USD 525 support.
Solana (SOL) is up showing positive signs near the USD 188 level. If the price gains pace for a move above USD 192, it could test USD 200. If not, there could be a downside correction towards the USD 180 level.
DOGE rallied above the USD 0.180 level. It is rising towards the USD 0.185 level. The main hurdle is still near USD 0.20, where the bears may perhaps take a strong stand.
XRP price is consolidating below the USD 1.00 level. If there is a clear move above the USD 1.00 level, the price might start a fresh rally. The next major resistance is near USD 1.05, followed by the USD 1.12 level.
Other altcoins market today
Many altcoins are up over 10%, including ELON, SAND, ICP, FTM, AR, LUNA, CRO, SUSHI, MANA, DASH, IOTX, XEC, and ALGO. Out of these, SAND rallied 20% and cleared the USD 6 level.
To sum up, bitcoin price is consolidating above the USD 50,000 level. If BTC gains strength above USD 51,200, it could accelerate higher in the coming sessions.