Bitcoin price gained over USD 49,000 and USD 49,500 bullish. Eventually BTC broke the USD 50,000 resistance and traded at a new all-time value of USD 50,300. The bulls are now in control (13:00 UTC) and there is a possibility of further upward movement towards USD 51,500.
Similarly, most of the major altcoins are gaining momentum. ETH / USD is trading above USD 1,800 and could make another attempt to remove USD 1,840 resistance. XRP / USD tested the USD 0.585 resistance level before correcting lower.
Total market capitalization
After a brief downward correction, Bitcoin price rose back above $ 49,000. BTC gained strength above USD 49,500, breaking the USD 50,000 resistance level. A new all time high is being formed above USD 50,300 and the price is currently consolidating gains. If the bulls remain in control, the price could rise towards $ 51,500 and $ 52,000.
The first major support is near the $ 49,500 level. The main support is near the $ 49,000 level where the bulls may take a stand.
Ethereum price failed to hit the USD 1,830 and USD 1,840 resistance levels. ETH currently holds profits above USD 1,800 and USD 1,780. On the upside, price needs to clear the USD 1,840 resistance to start a sharp rise. The next major resistance is at USD 1,880.
If it falls again, the USD 1,780 level could harbor losses. The next big support for the current upward wave is USD 1,750. Further losses could potentially pave the way for a push towards USD 1,710.
ADA, Litecoin and XRP prices
Cardano (ADA) holds gains above the USD 0.872 and USD 0.865 support levels. ADA faces hurdles near the $ 0.920 level. The main resistance is near the USD 0.950 level. A significant break above the $ 0.950 level could pump the price above the $ 1.00 resistance level in the short term.
Litecoin (LTC) is up 5%, showing positive signs above the USD 210 level. An immediate hurdle is near the USD 225 level. A close above the $ 225 level could open the doors for a push towards the $ 250 level. On the downside, the price could stay well above the USD 200 handle.
The XRP price failed to hit the USD 0.585 resistance level and began a downward correction. The price was below the USD 0.572 and USD 0.565 support levels. It is currently struggling to stay above USD 0.550 but it could start a new bullish move.
Other altcoin market today
Many altcoins rose over 10%, including ATOM, KSM, ZEN, ICX, MIOTA, DOT, FTM, REN, HBAR, BTT, ENJ, DGB, and EGLD. Of these, ATOM rose more than 20%, breaking the USD 25 level.
To sum up, Bitcoin price has hit the main resistance level of $ 50,000. If BTC levels off above USD 50,000, there could be a steady spike in the upcoming sessions.
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