Ethereum Breaks USD 2,500, DOGE Doubles while Bitcoin Consolidates
Bitcoin price is consolidating above the USD 62,000 support zone. Ethereum extended its rally above USD 2,500, XRP might retest USD 1.85. DOGE rallied over 100% and it traded to a new all-time high above USD 0.25.
Bitcoin price corrected lower from the USD 64,900 zone. BTC broke the USD 63,000 support, but it is holding gains above the USD 62,000 level. It is currently (04:00 UTC) showing positive signs and it might start a fresh rally above USD 64,000.
Besides, most major altcoins are trading in a bullish zone. ETH extended its rally above USD 2,500 and it traded to a new all-time high near USD 2,550. XRP/USD is holding gains above USD 1.70 and it might climb higher towards USD 1.85.
Total market capitalization
After a downside correction, bitcoin price settled above the USD 62,000 level. BTC is slowly rising and it is trading above the USD 63,000 level. An initial resistance is near the USD 63,500 level. The main resistance is now near the USD 64,000 level, above which the price might accelerate higher towards the USD 65,000 and USD 65,500 levels.
If there is another decline, the USD 62,000 level might provide support. The key support is still near USD 61,200, below which the price might decline towards USD 60,000.
Ethereum price outpaced bitcoin once again and it broke the USD 2,500 resistance. ETH traded to a new all-time high near USD 2,550 and it is now consolidating gains. An initial support is near USD 2,480. The next major support is near the USD 2,450 level.
On the upside, the USD 2,550 is an immediate resistance for the bulls. A clear break above the USD 2,550 level might open the doors for a move towards the USD 2,600 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is moving lower and it is now trading well below the USD 550 pivot level. BNB is approaching the USD 525 support. Any more losses might call for a move towards the USD 505 and USD 500 support levels. On the upside, the price might face hurdles near USD 550.
Cardano (ADA) seems to be facing resistance near the USD 1.500 and USD 1.515 levels. A successful break above the USD 1.515 level could set the pace for a move towards the USD 1.65 level. If not, there could be a test of the USD 1.400 support level.
Litecoin (LTC) is up over 5% and it is now trading above the USD 285 resistance. LTC is approaching the USD 298 and USD 300 resistance levels, where the bears might take a stand. If they fail, the price could rally further towards the USD 320 level.
XRP price is back above the USD 1.70 level. It is trading above USD 1.72 and it might soon test the USD 1.75 resistance. If there is a break above USD 1.75, the price could revisit the USD 1.85 resistance.
Other altcoins market today
Many altcoins gained over 15%, including DOGE, ETC, ZEN, MKR, CRV, NEO, QTUM, BSV, BCH, DASH, MANA, and TRX. Out of these, DOGE rallied over 100% and it broke the key USD 0.25 level, flipping LTC and UNI, and becoming the 8th largest cryptoasset by market capitalization.
Overall, bitcoin price is consolidating gains above the USD 62,000 level. It seems like BTC is setting up for a fresh increase above the USD 64,000 and USD 64,200 levels in the near term.