Bitcoin and Ethereum show signs of further increase

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The price of Bitcoin is eyeing a bullish breakout above $ 63,000. Ethereum broke through the $ 4,200 resistance, XRP hit $ 1.12, CRV, and SCRT gained over 22%.

The price of Bitcoin formed a base and broke through the resistance of $ 62,000. BTC broke the $ 62,500 mark and even broke above $ 63,000. It is currently trading (04:32 UTC) below $ 63,000, but it could rise towards $ 64,500 in the near term.

Also, most of the major altcoins are showing positive signs. ETH is up 2% and trading above the $ 4,200 level. XRP is eyeing a key bullish breakout above $ 1.12 and $ 1.15. The ADA rises towards the resistance zone of $ 2.20.

Total market capitalization

Source: tradingview.com Bitcoin Price

After rising above $ 62,000, the price of bitcoin was able to break above the $ 62,500 level. BTC even broke above $ 63,000, but there was no convincing close. The price is now consolidating below $ 63,000. A successful close above $ 63,000 could potentially start a steady rise. Immediate resistance is near the $ 63,200 level. The next major resistance is near $ 64,500, above which the price may possibly rise to the $ 65,000 level.

On the downside, first support is close to 62,000 USD. The first major support is near $ 61,500, below which the price could drop to $ 60,000.

Ethereum price

The price of Ethereum is also on the rise and is trading above $ 4,200. ETH is now facing resistance near the $ 4,250 level. A clear break above $ 4,250 could set the tone for a larger upside. The next stop for the bulls could be $ 4,400.

Immediate downside support is near the $ 4,200 level. The first key support is now forming near the $ 4,120 level.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) moves up towards the resistance levels of $ 2.18 and $ 2.20. A close above $ 2.20 could trigger another rally. The next major resistance is at $ 2.32. If there is a further decline, the price could revert to 2.12 USD. The next major support is near the $ 2.10 level.

Litecoin (LTC) is back above the $ 195 level. Bulls face a major hurdle near the $ 200 level. A close above $ 200 could set the tone for a move towards the $ 212 level. On the downside, the $ 188 level is now decent support.

Dogecoin (DOGE) tested the resistance of $ 0.272 before starting a downward correction. Price consolidates near $ 0.265, with decent support at $ 0.255. Major breakout support is now forming near the $ 0.250 level.

XRP price has remained stable near key support at $ 1.05. It goes back above $ 1.10 and could accelerate above $ 1.12. The next major resistance is near $ 1.15, above which the price may rise to $ 1.20. Otherwise, the price could drop towards the $ 1.00 support.

Other altcoins market today

Many altcoins rose over 8% including SCRT, CRV, NEAR, ALGO, ICP, MINA, FTM, COMP, ONE, TEL, CHZ, and ENJ. Of these, SCRT rose 34% and topped the $ 8.5 level.

Overall, the price of bitcoin is rising and trading above $ 62,000. If BTC moves above $ 63,000, there could be a move towards the $ 65,000 level in the near term.

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