Bitcoin considers key breakout to the upside, outperforms Ethereum, DOGE rallies

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Bitcoin price is eyeing a bullish breakout above the key resistance of $ 50,000. Ethereum is trying to revise $ 3,500, XRP has moved above $ 1.00 resistance. SHIB is up over 57%, ICX is up 22% and DOGE is up 12%.

The price of Bitcoin has remained stable above the support level of $ 46,500. As a result, BTC started a further rise above the resistance levels of $ 47,500 and $ 48,000. It is currently showing (04:34 UTC) positive signs above $ 49,000 and it could exceed $ 50,000.

Likewise, most of the major altcoins are also gaining ground. ETH is back above $ 3,350 and it could revisit the $ 3,500 area. XRP needs to clear $ 1.08 to continue rising. The ADA is still trading below the resistance area of ​​$ 2.32.

Total market capitalization

Source: https: //www.tradingview.com Bitcoin Price

After a downward correction, the price of bitcoin found support above $ 46,500. BTC formed a base and started a further rise above $ 48,000. The price is now trading above the 49,000 USD level. The first key resistance is near the $ 49,650 level. The main hurdle is still near USD 50,000, above which the price may accelerate upward in the short term.

Immediate downside support is near the $ 48,500 level. The first key support is at 48,000 USD, below which the price could revisit 47,000 USD.

Ethereum price

Ethereum’s price also followed a similar trend and found support near the $ 3,280 level. ETH is rising and is back above the $ 3,350 level. On the upside, initial resistance is near the $ 3,420 level. The next key resistance is now near the 3,480 and 3,500 USD levels, above which the bulls may strengthen.

Otherwise, there is a risk of further decline to the support levels of $ 3,280 and $ 3,250. The next major support is near $ 3,150.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) consolidates near the $ 2.20 level. An immediate hurdle for bulls is near $ 2.25. However, the main breakout area is $ 2.32. A close above $ 2.32 is required for a stronger near-term increase.

Litecoin (LTC) is rising and trading above $ 165. The first resistance is near the $ 175 level. A clear break above the $ 175 level could set the stage for a larger rise. In this case, the price could test the level of 188 USD.

Dogecoin (DOGE) gained 12% and was able to break through the resistance of $ 0.220. It is now trading above $ 0.240 and is facing hurdles near $ 0.250. Further gains could set the tone for a further rise towards the $ 0.275 level.

XRP price is still struggling to break through the resistance zone of $ 1.08. If XRP settles above $ 1.08, it could start a steady rise towards the $ 1.15 and $ 1.20 levels. Conversely, it could drop towards the support level of $ 1.00.

Other altcoins market today

Many altcoins rose over 5% including SHIB, ICX, KLAY, ICP, REN, FLOW, FIL, CRV, ONE, LUNA, RUNE, STX, DCR, and HBAR. Of these, the SBIH rose more than 57% and may continue to break above the $ 0.000013 level.

Overall, the price of bitcoin is showing positive signs above $ 48,500. If BTC breaks above $ 50,000, it could accelerate higher in the short term.

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