Bitcoin price started rising again after breaking the USD 48,000 resistance. BTC gained momentum, surpassing the $ 49,400 resistance. It even traded to a new all-time high near $ 49,975 and is currently consolidating (05:00 UTC) gains.
Also, most of the major altcoins are showing signs of more profit. ETH / USD is back above USD 1,800 but has to settle USD 1,830 for further winnings. XRP / USD is steadily rising and could soon attempt to break above USD 0.600.
Total market capitalization
Bitcoin price gained momentum after a strong rebound above USD 48,000. It is up over 5% and even surpassed the $ 49,000 level. BTC hit a new all-time high at $ 49,975, but there was no test of $ 50,000. It is currently consolidating earnings and it appears the bulls may make another attempt to clear USD 50,000.
On the flip side, initial support is near the USD 49,000 level. The first major support is near the $ 48,500 level, below which the price could drop to $ 48,000.
Ethereum price gained strength above the USD 1,750 level and even canceled the USD 1,800 resistance. ETH is currently facing resistance near the $ 1,830 and $ 1,840 levels. A successful close above the USD 1,840 level could open the doors to a new all-time high.
On the flip side, the price could find bids near the USD 1,780 level. The main support is now forming near the USD 1,750 level below which the price could test USD 1,710.
ADA, Litecoin and XRP prices
Cardano (ADA) is up over 10% and the bulls broke the USD 0.850 resistance. ADA is now showing positive signs and could continue higher towards USD 0.920. The next major resistance is near the $ 0.950 level, above which the price may rebound towards the $ 1.00 level.
Litecoin (LTC) is trading above the USD 200 and USD 205 support levels. Immediate resistance is near the USD 225 level. A significant break above the USD 225 level could potentially open the doors for a push towards the USD 250 level . On the downside, the $ 200 level is a strong support.
XRP price is holding gains above the USD 0.550 support. It is trading well above USD 0.565 now and could resolve the USD 0.585 resistance. The main resistance is at USD 0.600. A significant break above USD 0.600 could set the pace for a 10% rally in the short term.
Other altcoin market today
Many altcoins gained over 15%, including KSM, ATOM, ICX, DGB, REN, MIOTA, ZEN, MATIC, HBAR, SUSHI, DASH, NANO, BTT, STX and ZEC. Of these, KSM rose 40%, breaking the USD 200 level.
Overall, Bitcoin price is gaining traction and could break the $ 50,000 barrier. If BTC is successful, it could soar towards USD 52,000 in the short term.
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