Bitcoin tests $ 50,000, Ethereum and Altcoins extend earnings

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The price of Bitcoin has broken through the key resistance of $ 50,000. Ethereum is back above $ 3,400, XRP is approaching extended gains of $ 1.08. SHIB, DOGE is up over 11%.

The price of Bitcoin remained high and it broke through the resistance of 48,500 USD. As a result, BTC was able to break through the resistance of $ 50,000. It is currently trading (12:09 UTC) in a positive zone around $ 50,000, but there is a risk of a downward correction towards $ 49,200.

Also, most of the major altcoins are showing positive signs. ETH managed to break through the resistance levels of $ 3,350 and $ 3,400. XRP could accelerate if there is a clear break above $ 1.08. ADA consolidates above 2.20 USD.

Total market capitalization

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

After forming a base above $ 47,500, the price of bitcoin began to rise again. BTC managed to clear key hurdles of nearly $ 49,500 and $ 50,000. It is now consolidating its gains, with immediate resistance near the $ 50,500 level. The first key resistance is near the $ 51,200 level, above which the price may rise to the $ 52,000 level.

Immediate downside support is near the $ 49,200 level. The first key support is now forming near $ 48,500, below which the price could test $ 48,000.

Ethereum price

The price of Ethereum is also on the rise and it has broken resistance at $ 3,350. ETH even hit the $ 3,400 level, but it faces hurdles close to $ 3,440. The main resistance is still near the levels of 3,480 and 3,500 USD, above which the price could accelerate higher.

If corrected downward, the price could find support near $ 3,380. The next major support is near $ 3,350, below which the price may extend its decline to the $ 3,250 level.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) is still trading in a range above the $ 2.20 level. Immediate resistance is near $ 2.25. A clear break above $ 2.25 could increase the odds of a move above the resistance of $ 2.32. Otherwise, the price could break the $ 2.20 support and head towards $ 2.12.

Litecoin (LTC) is gaining ground above $ 165. The price is trading above $ 170 and it looks like the bulls may attempt a break above the $ 175 resistance. If they are successful, maybe the price could move up to the $ 188 level. The next major resistance is $ 200.

Dogecoin (DOGE) has gained over 11% and is now trading above the pivot level of $ 0.220. Initial resistance is near the $ 0.242 level. The first key resistance is $ 0.250, above which the price may rise to the $ 0.275 level.

XRP price is consolidating above the support levels of $ 1.00 and $ 1.02. It may soon attempt a further rise above the resistance zone of $ 1.08. If the bulls strengthen above $ 1.08, the price could eventually move towards the $ 1.20 level. On the downside, the bulls could remain active near the $ 1.00 support area.

Other altcoins market today

Many altcoins rose over 5% including SHIB, KLAY, ICP, REN, MINA, ICX, TEL, AMP, VET, DCR, ZIL, WAVES, STX, and RUNE. Of these, KLAY rebounded nearly 16% and broke through the $ 1.4 level, while SHIB extended its gains to $ 0.000014 and is now up 57% in one day.

To sum up, the price of bitcoin is accelerating and it has broken through a major hurdle near $ 50,000. If BTC goes above $ 50,000, it could reach the $ 52,000 level.

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