Bitcoin price formed a base above USD 44,000 and started a fresh increase. BTC is back above USD 47,000 and it is currently (11:45 UTC) consolidating gains. To continue higher, the price must gain momentum above the USD 48,000 resistance.
Besides, most major altcoins are showing positive signs. ETH is back above USD 3,200, but it is facing resistance near USD 3,300. XRP is up 10% and it even tested the USD 1.25 resistance. ADA extended its rally and it climbed above the USD 2.50 resistance.
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After a fresh increase, bitcoin price settled above the USD 47,000 level. BTC spiked towards USD 47,400, but there was no upside continuation. The next key resistance is near USD 47,800. The main resistance for a larger increase is at USD 48,000. A close above USD 48,000 could set the pace for a move towards USD 50,000.
If there is a downside correction, the price might find support near the USD 46,800 zone. The next major support sits near the USD 46,500 level, below which it could revisit USD 45,500.
Ethereum price gained traction above USD 3,150 and settled above USD 3,200. It is now consolidating gains near USD 3,200, with an immediate resistance at USD 3,250. The key barrier is now near USD 3,300. A close above USD 3,300 may possibly pump the price towards USD 3,450 or USD 3,500.
On the downside, an immediate support is near the USD 3,150 level. The next major support is now forming near the USD 3,110 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) remained in a positive territory above the USD 2.20 and USD 2.35 levels. It is up over 20% and it even tested the USD 2.50 resistance. Any more gains could lead the price towards the USD 2.65 level. If there is a downside correction, the price could test USD 2.35.
Litecoin (LTC) is slowly rising and it is now trading above USD 1.75. It is up 8% and it might even clear the USD 180 resistance. The next major resistance is near USD 188. If the bears fail to protect, the price could rally towards the USD 200 level.
Dogecoin (DOGE) spiked above the USD 0.325 resistance level before it started consolidating. On the downside, the bulls might protect the USD 0.312 and USD 0.308 support levels. The main support is at USD 0.300. To continue higher, the price must clear the USD 0.325 and USD 0.335 resistance levels.
XRP price climbed higher above the USD 1.235 resistance level. It even spiked above USD 1.25. If there are additional gains, the price might even clear the USD 1.265 level. The main resistance on the upside is near USD 1.30. If there is a downside correction, the price might find support near USD 1.22.
Other altcoins market today
Many altcoins gained over 10%, including GRT, DOT, AVAX, KSM, DASH, RUNE, FTT, VGX, HNT, MATIC, VET, ALGO, CRV, TEL, and NEO. Out of these, GRT rallied 20% and it surpassed the USD 1.05 level.
To sum up, bitcoin price is consolidating gains near USD 47,000 and USD 46,800. If BTC climbs above USD 48,000, it could rise further. Conversely, there might be a drop to USD 45,500.
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