Bitcoin and Ethereum recoup losses, Cardano rallies 15%

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The price of Bitcoin continued its decline, but the bulls were active near the $ 44,000 level. As a result, BTC started a further rise above the resistance levels of $ 45,500 and $ 46,500. It is currently trading (04:00 UTC) above $ 47,000 and could even test $ 48,000.

Likewise, most of the major altcoins are gaining momentum. ETH broke through resistance levels of $ 3,150 and $ 3,200. XRP is up 8% and it broke the key resistance level of $ 1.20. The ADA outperformed and rallied above the resistance of $ 2.40.

Total market capitalization

Source: www.tradingview.com Bitcoin price

After a downward correction, the price of bitcoin found support near the $ 44,000 area, BTC started a further rise and broke through the resistance of $ 45,500. The bulls may have pushed the price above the key resistance of $ 47,000. On the upside, a first hurdle is near the $ 47,500 level. The main resistance is still near the 48,000 USD level.

Immediate support is near the $ 46,800 area. The next major support is near the level of $ 46,200, below which there is a risk of moving towards $ 45,500.

Ethereum price

Ethereum’s price also followed a similar trend and started a further rise from the $ 2,950 support area. ETH rallied above resistance levels of $ 3,150 and $ 3,200. It is now facing resistance near the $ 3,250 level, above which price may test the $ 3,300 barrier.

If there is a further downward correction, the price could trade below $ 3,180. Key support is now forming near the $ 3,110 level.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) outperformed with a major move above the $ 2.20 resistance. The ADA climbed over 15% and even broke above the $ 2.40 level. It is now facing resistance near the $ 2.50 level. Any further gain could drive the price towards the $ 2.65 level.

Litecoin (LTC) remained supported near the $ 162 level. It started a further rise above the resistance at $ 172. The price is consolidating near $ 175 and it may continue to rise towards 180. The main resistance to the breakout is near the $ 188 level.

Dogecoin (DOGE) settled above the $ 0.300 and $ 0.305 levels. The price even broke the level of $ 0.320, but there was no further rise. Initial resistance is near $ 0.325, above which the price may revisit the resistance zone of $ 0.335.

The price of XRP has remained well above the support levels of $ 1.05 and $ 1.08. As a result, there was a bullish reaction and the price climbed above the resistance of $ 1.20. If the price breaks the resistance levels of $ 1.235 and $ 1.250, it might even test $ 1.30.

Other altcoins market today

Many altcoins rose over 10% including CHSB, FTM, VGX, GRT, ALGO, CRV, KSM, SUSHI, MATIC, ICP, XDC, RUNE, TEL, VET, and SNX. Of these, the CHSB rose 30% and broke the $ 0.90 level.

Overall, the price of bitcoin is accelerating above the resistance level of $ 46,500. That said, BTC needs to break above $ 48,000 for a further short-term rise ._____

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