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Bitcoin Nears USD 53K,  Ethereum Stable, SOL Rallies

  • Bitcoin price extended its increase above USD 52,000.
  • Ethereum is still struggling below USD 4,000, XRP spiked above USD 1.40 before correcting lower.
  • FTT is up 30%, and SOL rallied by 22%.

Bitcoin price remained well supported above the USD 50,500 support zone. As a result, BTC started a fresh increase and it climbed above the USD 52,000 resistance. It is currently (03:24 UTC) consolidating gains and it might rise further above USD 53,000.

Besides, most major altcoins are trading in a positive zone. ETH is holding gains above USD 3,900, but it is still struggling near USD 4,000. XRP rallied further above USD 1.40 before it faced sellers. ADA corrected lower after it failed to clear USD 3.00.

Total market capitalization

Source: https://www.tradingview.com

Bitcoin price

After a short-term downside correction, bitcoin price started a fresh increase above USD 51,800. BTC cleared the key USD 52,000 resistance to extend gains. It is now trading above the USD 52,500 level, with an immediate resistance near USD 53,000. If there is an upside break above USD 53,000, the price could rise towards the USD 53,800 level.

On the downside, the price could find support near the USD 52,200 level. The next major support could be USD 52,000, below which the price might test USD 51,200.

Ethereum price

Ethereum price is trading in a range below the main USD 4,000 resistance. To start another increase, ETH must clear the USD 3,980 and USD 4,000 resistance levels. The next major resistance is near USD 4,080, above which the price might rise towards the USD 4,200 level.

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If the price fails to rise above USD 4,000, it could correct lower. An initial support is near the USD 3,920 level, followed by USD 3,900. The next major support is near the USD 3,850 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) failed to clear the USD 3.00 resistance zone. The price is moving lower and it is trading below USD 2.88. If ADA declines below USD 2.80, the bears might test USD 2.65. On the upside, the bulls might continue to face hurdles near USD 3.00.

Litecoin (LTC) started a downside correction after there was no follow up move above USD 240. The price is now trading below USD 225. If there are more downsides, the price could test the USD 212 support zone. The next major support is near the USD 205 level.

Dogecoin (DOGE) tested the USD 0.320 resistance before it started a downside correction. The price is now approaching the USD 0.305 support. The main support is near USD 0.300, below which there is a risk of more downsides.

XRP price topped near USD 1.415 and corrected lower. It is back below USD 1.40 and is testing USD 1.380. If there are more losses, the price could test the USD 1.365 support. On the upside, the USD 1.40 level is a key breakout zone.

Other altcoins market today 

Many altcoins are up over 8%, including FTT, SOL, FTM, THETA, RUNE, ALGO, MDX, SNX, TFUEL, OMG, AR, DGB, and CRO. Out of these, FTT rallied by 30% and it surpassed the USD 80 level.

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Overall, bitcoin price extended its increase above the USD 52,000 resistance zone. If BTC continues to rise and clears USD 53,000, it could even test USD 55,000 in the near term.

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