Bitcoin price extended its increase above the USD 50,000 zone. However, the bulls failed to gain strength above USD 50,250 and BTC corrected lower. It is currently (05:23 UTC) consolidating gains and it might attempt a fresh break above USD 50,000.
Besides, most major altcoins are showing positive signs. ETH remained supported above USD 3,700 and it is back near USD 3,800. XRP is consolidating well above USD 1.25, and it could rise towards USD 1.30. ADA is also consolidating in a range near the USD 3.00 zone.
Total market capitalization
After clearing the USD 50,000 zone, bitcoin price failed to extend gains. BTC formed a high near USD 50,400 and it started a downside correction. It dipped below USD 49,200, but the bulls were active near USD 48,500. The price is now rising, and it is back above USD 49,500.
On the upside, an immediate resistance is near the USD 49,800 level. The main resistance is still near the USD 50,000 level. A close above USD 50,000 could accelerate gains in the near term.
Ethereum price also corrected lower below USD 3,750, but it remained well bid near the USD 3,700 zone. ETH formed a base above USD 3,700 and it climbed back above USD 3,800. The next key resistance is near USD 3,850, above which the price might rise further towards USD 4,000.
If there is another downside correction, the price could find support near USD 3,720. The next major support is near the USD 3,700 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) broke the USD 3.00 resistance and it tested USD 3.10. Recently, there was a downside correction below USD 3.00, but the price is stable above USD 2.88. The next key support is near USD 2.85, below which there is a risk of a move towards the USD 2.65 support.
Litecoin (LTC) broke the USD 185 resistance. It even tested the main USD 188 resistance. LTC is now consolidating near USD 185, with an immediate support at USD 180. To continue higher towards USD 200, the price must clear the USD 188 resistance zone in the near term.
Dogecoin (DOGE) broke the USD 0.300 resistance, but it faced sellers below USD 0.312. It tested USD 0.310 before correcting lower. The price is now consolidating near USD 0.300, with a decent support at USD 0.292. The next major support is near the USD 0.285 level.
XRP price gained pace above the USD 1.28 resistance. However, there was no test of the USD 1.30 resistance. The price corrected lower, but the bulls are protecting USD 1.28. If there are more losses, the price could test USD 1.265. Conversely, there might be a fresh increase towards the USD 1.30 level.
Other altcoins market today
Many altcoins are up over 5%, including MIOTA, SOL, AVAX, HOT, BTG, CEL, REV, BTT, KSM, WAVES, AUDIO, TRX, and NEAR. Out of these, MIOTA rallied by 30% and it surpassed the USD 1.5 level.
Overall, bitcoin price is stable above the USD 48,500 and USD 49,200 support levels. If BTC settles above USD 50,000, it could resume its rally towards USD 52,000.