Bitcoin price was corrected below the $ 47,000 level, but the downside was limited. BTC is back above the USD 47,000 and it appears that the bulls are aiming for a fresh spike above the USD 48,000 level. It is currently (05:00 UTC) showing positive signs with large support at USD 46,500.
Also, most of the major altcoins have more advantages in mind. ETH is holding steady above USD 1,750 and it appears the bulls are aiming for a break above USD 1,800. XRP / USD has extended its surge above the USD 0.550 and USD 0.580 resistance levels.
Total market capitalization
After testing the USD 46,500 support zone, Bitcoin price rose again. BTC rose back above USD 47,000 and is moving higher towards USD 48,000. A closing price above the $ 48,000 level could open the doors for a steady rise towards the $ 48,500 and $ 48,600 levels.
On the flip side, the price could remain stable above USD 47,000. The next major support is at $ 46,500 below which the price could test $ 46,000.
Ethereum price tested the USD 1,740 support zone and stayed in a range for the most part. On the upside, the key barrier for the bulls is USD 1,800. A significant break above the $ 1,800 level could open the doors to a new test of $ 1,830. Further upside moves could potentially set the pace for a move towards USD 1,880.
On the downside, the price could remain stable above USD 1,750 and USD 1,740. The next major support is near the USD 1,710 level.
ADA, Litecoin and XRP prices
Cardano (ADA) is stable above USD 0.880 and USD 0.900. Immediate resistance is near the $ 0.925 level. The first major resistance is near the $ 0.950 level, above which the bulls may seek a break above the $ 1.00 level. On the flip side, the $ 0.880 level could provide strong support.
Litecoin (LTC) is steadily rising towards the USD 190 and USD 192 resistance levels. If the price remains stable above the USD 180, there is a possibility of a break above the USD 195 and USD 200 levels. Conversely, a downside break below the USD 180 could test the support of 165 USD.
XRP price extended its rally above the USD 0.550 resistance level. The price broke the USD 0.580 level and was trading near the USD 0.600 level. It is now consolidating gains and could make another attempt to clear the $ 0.600 resistance level. On the flip side, the USD 0.550 level could offer strong support.
Other altcoin market today
Many altcoins rose over 15%, including BRT, NANO, VGX, YFI, OCEAN, ATOM, DGB, FTM, XVG, Vocational Training, BVT, and ZRX. Of these, BRT increased by almost 70% and hovered above USD 2.7.
Overall, the Bitcoin price is showing positive signs above USD 47,000. If BTC rises above USD 48,000, the bulls could be targeting a new all-time high in the short term.
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