Bitcoin price rose bullish above the USD 47,500 and USD 48,000 levels. BTC even hit a new all-time high near $ 48,600 before correcting down. Currently (05:00 UTC) it is trading below USD 48,000 with the main supports at USD 47,000 and USD 46,500.
Also, most of the big altcoins hold profits above major supports. ETH is struggling to gain momentum above USD 1,800 but continues to receive support above USD 1,700. XRP / USD gained over 8% and even surpassed the USD 0.550 resistance.
Total market capitalization
Bitcoin price rose steadily above the USD 47,000 resistance. BTC was even trading at a new all-time high near $ 48,600, but there was no major follow-up. The price failed to test USD 49,000 and started a new decline. There was a break below the USD 48,000 and USD 47,500 levels. Initial support is near the USD 47,000 level.
The first major support is now forming near the $ 46,500 level. The next major support is at $ 46,000. On the upside, the USD 48,000 level shows resistance.
The price of Ethereum struggled to break the USD 1,820 and USD 1,830 resistance levels. ETH corrects lower and is trading well below USD 1,800. It is testing the USD 1,740 support below which it could test the USD 1,700 support. Further losses could potentially open the doors for a push towards USD 1,650.
On the upside, initial resistance is near the USD 1,800 level. The main breakout zone is now forming near the USD 1,820 and USD 1,830 levels.
ADA, Litecoin and XRP prices
Cardano (ADA) tested almost the main resistance level of USD 1. A high is being formed near the USD 0.980 level and the price is currently correcting lower. It was trading below the USD 0.920 support and appears to be nearing the USD 0.880 support. The main support for the uptrend is at $ 0.850 where the bulls could take a strong position.
Litecoin (LTC) retested the USD 192 resistance before falling below USD 185. LTC is testing the USD 180 support below which it may find strong buying interest near the USD 175 level. On the upside, the USD 188 level is a short term resistance. The first major resistance is at USD 192 and USD 195, followed by USD 200.
XRP price did well after breaking above the USD 0.520 resistance. The price even rose above the USD 0.550 level and tested USD 0.570. It corrects gains, but the drops could remain limited below USD 0.532 and USD 0.520. On the upside, the main target for the bulls could be USD 0.585.
Other altcoin market today
Many altcoins gained over 20%, including BRT, NANO, ENJ, VGX, BAT, YFI, OCEAN, STX, FTM, Berufsbildung, XMR, ATOM, MIOTA, ZEC and ZRX. Of these, the GRT rose 85%, breaking the $ 2.20 level.
Overall, the Bitcoin price corrects gains well over USD 48,000. BTC could even test USD 46,000, but the general price movement points to further upward movement in the short term.
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