Bitcoin rallies around $ 52,000, Ethereum consolidates, altcoins in bullish trend

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Bitcoin’s price remained strong and began to rise again above the resistance of $ 50,000. BTC gained almost 4% and even exceeded $ 51,500. It is currently (03:35 UTC) consolidating its gains below the resistance zone of $ 52,000.

In addition, most of the major altcoins are also on the rise. ETH is holding gains, but is facing resistance near the $ 4,000 area. XRP is up over 6% and it has broken the resistance of $ 1.30. ADA is still struggling to break through the $ 3.00 resistance zone.

Total market capitalization

Source: www.tradingview.com Bitcoin price

After a successful close above $ 50,000, the price of bitcoin took a bullish momentum. BTC broke many hurdles near $ 51,000 and $ 51,200. It was even trading at nearly $ 52,000 before the bears appeared. It is now consolidating its gains below the resistance at $ 52,000. If there is a breakout to the upside above $ 52,000, the price may rise towards the $ 53,000 level. On the downside, the price may find support near the $ 51,200 level. Major support is now forming near the $ 50,500 level.

Ethereum price

The price of Ethereum made another attempt to clear resistance at $ 4000, but it failed. As a result, ETH corrected downward below $ 3,950. However, the bulls were active near the $ 3,850 level. The price is now consolidating above $ 3,900, with many hurdles near $ 3,980 and $ 4,000. If there is another downward correction, the price could find support near $ 3,850. The next major support is near the $ 3,800 level.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) failed to stay above $ 3.00 and corrected lower. However, the declines were limited below $ 2.85. Price is now stuck in a range below the resistance of $ 3.00. A close above $ 3.00 could start a higher rise. Litecoin (LTC) broke through many hurdles near $ 200 and $ 212. LTC even broke through $ 220 and is now consolidating its earnings. Immediate resistance is near the $ 230 level. A clear break above $ 230 and $ 232 could open the door for a move towards the $ 250 level. Dogecoin (DOGE) is up over 4% and broke resistance at $ 0.312. The next major resistance is near the $ 0.320 level. Any further gain could drive the price towards the $ 0.335 level. Otherwise, there could be a downward correction towards the $ 0.300 level. The price of XRP accelerated above the resistance of $ 1.30. It is up over 6% and even broke through the resistance of $ 1.32. There was a spike towards the $ 1.34 level, where the bulls faced resistance. XRP is now consolidating around $ 1.32, with support near $ 0.305 and $ 0.300.

Other altcoins market today

Many altcoins rose over 5% including QNT, FTM, FIL, OMG, LINK, LUNA, QTUM, AMP, HT, ICP, ALGO, ATOM, CRO, EOS, and COMP. Of these, QNT rose more than 41% and topped the $ 335 level.

Overall, the price of bitcoin has moved well above the resistance zone of $ 50,000. If BTC continues to rise and wipes out $ 52,000, there could be a move towards $ 53,000 or $ 53,500 ._____

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