Bitcoin and Ethereum showing signs of life, obstacles nearby

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The price of Bitcoin is trying to recover above $ 47,500. Ethereum goes above $ 3,880, XRP has gone above $ 0.80. SOL gained 4% and broke through the $ 160 level.

The price of Bitcoin has formed a base above the $ 46,000 area. As a result, BTC started a steady wave of recovery and broke through the $ 47,500 area. It is currently (04:19 UTC) facing strong resistance near the $ 48,500 area.

Likewise, most of the major altcoins are attempting an upward correction. ETH rallied above $ 3,800, but is facing strong resistance near $ 3,880. XRP is back above $ 0.800 and now consolidating. The ADA is above the $ 1.20 support area.

Total market capitalization

Source: tradingview.com Bitcoin price

After falling further, the price of bitcoin found support near the $ 46,000 level. BTC formed a base and started a rally above the $ 47,000 level. It even traded above $ 48,000, but bears are active at nearly $ 48,500. A close above $ 48,500 could trigger a move towards the $ 50,000 level.

Immediate downside support is near $ 47,200. The next major support is near the $ 46,500 level, below which the price may retest $ 46,000.

Ethereum price

Ethereum’s price recouped its losses and traded above the $ 3,800 level. ETH even climbed above $ 3,850, but failed to strengthen above $ 3,880. To continue moving up to $ 4000, the price must break through the $ 3880 barrier.

In the event of a further decline, the price could test $ 3,750. The next key support is near the $ 3,650 level, below which bears are testing $ 3,550.

ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) climbed to the $ 1.20 support. The price is rising and trading above $ 1.232. Immediate resistance is near the $ 1.25 level, above which the price may rise to the $ 1.265 level.

Binance coin (BNB) tested the $ 510 level and remained stable above $ 500. It is picking up and trading above $ 525. The first key resistance is near $ 535, above which it might test $ 550.

Solana (SOL) is up and there has been a move above the $ 155 level. The price climbed above $ 160, but is now facing resistance near $ 165. The next key resistance is near $ 172.

SHIB is stable above the 0.0000320 USD level. It is now consolidating near the $ 0.0000335 level. If there is a wave of recovery, the bulls may attempt a break above the USD 0.000035 area. The next major resistance is near the $ 0.000038 level.

XRP price has tested the support area of ​​$ 0.780 and is currently recovering losses. The price has returned above $ 0.80, but there are many obstacles to the upside. The main breakout area is near $ 0.82.

Other altcoins market today

Many altcoins rose over 5% including CAKE, DOGE, AVAX, EGLD, MATIC, HNT, WAVES, KCS, OKB, XTZ, GRT, NEAR, DESO, and XEC. Of these, CAKE, DESO and NEAR gained more than 18%. Meanwhile, OHM is the worst performing among the top 100 coins and is now down almost 8%.

Overall, the price of bitcoin is recovering above the $ 47,500 level. To continue rising, the price must break through the resistance level of $ 48,500 in the short term.

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