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Bitcoin Inches Higher, Ethereum Consolidates, XRP Gains Traction

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Bitcoin price is trying to recover towards USD 55,500. Ethereum is consolidating gains above USD 2,700, XRP gained 10% and it cleared USD 1.50. BNB remained stable above USD 600.

Bitcoin price started a decent recovery wave above the USD 53,500 level. BTC broke the USD 54,000 level and it is currently (11:30 UTC) showing a few signs of possible more upsides. If it clears USD 55,000, the bulls might gain strength.

Besides, most major altcoins are eyeing a fresh rally. ETH is stable above USD 2,700 and USD 2,720. XRP/USD gained traction and it broke the USD 1.50 resistance zone.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After testing the USD 52,350 level, bitcoin price started a decent recovery wave. BTC broke the USD 53,500 and USD 54,000 resistance levels. It even surpassed USD 54,200 and it might test USD 55,000. The next major resistance is near USD 55,500, above which the price could surge towards the USD 56,500 level.
On the downside, an initial support is near the USD 54,000 level. The next major support is at USD 53,250, below which the price could retest USD 52,350.

Ethereum price

Ethereum price corrected lower after setting a new all-time near USD 2,800. It is now stable near the USD 2,750 level. The first barrier is near the USD 2,780 and USD 2,800 levels. A close above USD 2,800 could set the pace for a strong surge in the coming sessions.
If there is an extended decline, the price could test USD 2,700. The next major support is seen near the USD 2,650 level.

BNB, ADA, DOGE, and XRP price

Binance Coin (BNB) rallied above USD 600 and it tested the USD 625 resistance. BNB is now consolidating gains above the USD 600 level and it might attempt a fresh increase in the near term. A clear break above USD 625 could set the pace for a steady increase.
Cardano (ADA) spiked above the USD 1.35 resistance, but it failed near the USD 1.40 level. It is now consolidating near USD 1.335 and it might correct lower towards the USD 1.30 support zone. Any more losses might call for a test of the USD 1.28 level.
Dogecoin (DOGE) is holding gains above the USD 0.30 support zone. An immediate resistance is near the USD 0.332 level. A successful break above USD 0.332 could lift the price above USD 0.350. The next major resistance on the upside is near the USD 0.400 level.
XRP price gained over 10% and it broke many hurdles near the USD 1.40 level. It even surged above USD 1.50, opening the doors for more upsides. If the bulls remain in action, there are chances of an increase towards the USD 1.65 level. On the downside, the price might find bids near the USD 1.50 and USD 1.48 levels.

Other altcoins market today

Many altcoins climbed over 5%, including XVS, WAVES, FTM, ICX, HT, OKB, MATIC, DASH, CHSB, AVAX, DOT, RUNE, and NEAR. Out of these, XVS rallied 25% and cleared the USD 100 level.

To sum up, bitcoin price is showing a few positive signs above USD 54,000. However, it must surpass USD 55,000 and USD 55,500 to start a steady increase in the coming sessions.

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