Bitcoin price is consolidating below the $ 50,000 resistance. Ethereum is approaching $ 4080, XRP could accelerate if it drops to $ 0.85. AVAX added 18% and broke the $ 100 level.
Bitcoin price was able to recover above the $ 48,500 resistance levels. BTC is currently (12:03 UTC) facing resistance near the $ 49,500 zone. A closing price above $ 50,000 could start a stronger rally in the near term.
Likewise, most of the major altcoins are moving up. ETH could increase profits if it breaks resistance levels of $ 4,080 and $ 4,120. XRP is targeting a key break above $ 0.850. ADA consolidates gains around the $ 1.30 level.
Total market capitalization
Source: tradingview.com Bitcoin Price
After a decent wave of recovery, the bitcoin price faced resistance around the $ 49,500 level. The main obstacle remains at $ 50,000. A closing price above $ 50,000 could start a new rally in the near future. The next key resistance is near the $ 51,200 level, above which the price could return to the $ 52,000 zone.
If a downward correction occurs, initial support on the downside will be $ 48,200. The next important support is near the $ 47,500 level, below which the price could hardly stay in the positive zone.
The Ethereum price managed to rise above the $ 4,000 level. ETH is currently facing resistance around the $ 4080 and $ 4120 levels. The next key resistance is near the $ 4,200 level, above which the bulls could test $ 4,350.
Immediate support for the fall is near the $ 3950 level. The next key support is found near the $ 3880 level.
ADA, BNB, SOL, DOGE and XRP price
Cardano (ADA) gained momentum, climbing above the $ 1.30 level. The price is now consolidating and is meeting resistance around the $ 1.32 level. The next key resistance is around $ 1.35. If a downward correction occurs, the price could find offers around $ 1.265.
Binance Coin (BNB) picked up momentum to move above the $ 525 level and broke the first key resistance at $ 542. Further gains could open doors for movement above the $ 550 level. The next key resistance is around $ 565.
Solana (SOL) rallied 11% and there was a clear break above the $ 180 resistance. It is now approaching the $ 188 barrier. If the bulls continue to act, the price could return to the $ 200 support level.
DOGE continues to consolidate gains around the $ 0.180 level. Immediate resistance is around the $ 0.188 level. However, major resistance is found near the $ 0.20 zone, above which the price could test $ 0.22.
XRP price is trading in a range above the resistance zone of $ 0.820. The first major hurdle is $ 0.850. A clear move above the $ 0.850 level could set the pace for a move towards the $ 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. Of these, AVAX has grown by 18% and is now approaching $ 110. It also flipped DOGE and LUNA to become the 10th largest crypto asset by market cap. Its price also rose 10% over the week.
To summarize, the bitcoin price is consolidating below the $ 50,000 level. A clear move above $ 50,000 could open the door for a move towards the $ 52,000 level.