Bitcoin aims for further gains, Ethereum consolidates and SHIB rallies

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The price of Bitcoin extended its rise above the resistance of $ 54,000. Ethereum consolidates near $ 3,500, XRP hit $ 1.08. The SHIB continues to rally and is now the 12th largest coin by market cap.

The price of Bitcoin has extended its bullish movement above the resistance of $ 52,000. BTC managed to break through the resistance of $ 53,200 and broke above $ 55,000. It is currently (04:32 UTC) consolidating its gains above $ 55,000 and it could rise further above $ 55,500.

On the flip side, most of the major altcoins struggle to speed up. ETH is consolidating near the $ 3,500 pivot, while XRP has finally reached the resistance levels of $ 1.08. The ADA moved closer to $ 2.20 again.

Total market capitalization

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

After a successful breakout above $ 52,000, the price of bitcoin continued its rally. BTC was able to break through the resistance levels of $ 53,200 and $ 54,500. It even went over $ 55,000 and tested $ 55,750. Price is now consolidating its gains, with immediate support at $ 54,500. The first key support is at $ 54,000, below which the price could test $ 53,200.

On the upside, the price is facing resistance near $ 55,500. The first key resistance is near the level of $ 56,200, above which the price may accelerate higher towards $ 57,800.

Ethereum price

Ethereum’s price has settled above the pivot level of $ 3,500. However, ETH is struggling to gain ground above the $ 3,550 and $ 3,580 levels. The next key resistance is now near $ 3,620, above which the price may rise to the $ 3,750 level.

On the downside, initial support is near the support levels of $ 3,450 and $ 3,440. The next major support is near $ 3,400, below which the price could test $ 3,350.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) failed to break through the resistance level of $ 2.25 and is now trading below $ 2.20, but is showing positive signs. If the bears stay in action, there is a risk of movement towards the $ 2.12 level. The next major support is near the $ 2.05 level.

Litecoin (LTC) managed to break through the key resistance of $ 175. The next key resistance is near the $ 185 and $ 188 levels. If there is a clear break above $ 188, the price may accelerate higher towards the $ 200 level. On the downside, the $ 172 level is decent support.

Dogecoin (DOGE) broke through the resistance levels of $ 0.250 and $ 0.265. However, it failed to test the resistance of $ 0.280 and corrected lower. It is now trading below $ 0.250 and may continue to decline towards the support level of $ 0.232.

XRP price consolidates near the $ 1.05 level. On the upside, the price is facing resistance near $ 1.10. A close above this level could set the tone for a move towards $ 1.20. If there is a drop, the price could test $ 1.00.

Other altcoins market today

Many altcoins rose over 5% including SBIH, AR, BTG, FTM, XLM, DYDX, BTCB, WBTC, XMR, KLAY, and CRO. Of these, SBIH remained in a major uptrend and it rose another 36% in one day, reaching $ 0.00003. The price is now up 336% in one week.

Overall, the price of bitcoin is showing positive signs above the $ 54,000 level. BTC could correct to the downside, but declines could be limited below the $ 43,200 level.

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