Bitcoin Breaks Key Resistance, Ethereum and Altcoins Extend Gains
Bitcoin price gained bullish momentum above the USD 52,000 resistance level. BTC even cleared the USD 53,250 resistance and it is currently (12:00 PM UTC) showing positive signs. If the bulls remain in action, there could be a steady rise towards USD 55,000.
Similarly, most major altcoins are extending gains. ETH gained traction and it even tested the USD 2,500 zone. XRP/USD broke the USD 1.155 resistance and it might continue higher.
Total market capitalization
After a successful close above USD 51,500, bitcoin price gained bullish momentum. BTC broke the USD 53,000 and USD 53,250 levels. It is now trading in a positive zone and it seems like the bulls are aiming for a test of the USD 55,000 resistance levels. Any more gains might lead the price towards the USD 56,500 level.
On the downside, the USD 52,500 level is a short-term support. The next major support is now forming near the USD 52,000 level.
Ethereum price remained stable above the USD 2,400 resistance. The price even broke the USD 2,450 resistance and it spiked above the USD 2,500 level. If there is an increase above USD 2,500, the price could grind higher towards the USD 2,580 and USD 2,600 levels.
If there is a downside correction, the price might find support near the USD 2,450 level. The next major support is now forming near the USD 2,350 level.
BNB, ADA, DOGE, and XRP price
Binance Coin (BNB) gained momentum above the USD 525 resistance. It even tested the USD 550 resistance. If there is a close above USD 550, the price might accelerate higher towards the USD 585 level. The next major resistance for the bulls is near the USD 600 level.
Cardano (ADA) is up over 10% and it broke the USD 1.20 and USD 1.22 resistance levels. If ADA settles above USD 1.232, there are chances of a spike towards the USD 1.285 and USD 1.300 resistance levels. On the downside, the USD 1.20 level may now act as a strong support.
Dogecoin (DOGE) is consolidating above the USD 0.250 pivot level. On the upside, an initial resistance is near the USD 0.265 level. The next major hurdle is near the USD 1.285 level, above which the price could aim for a break above the USD 0.300 level.
XRP price is now trading above the USD 1.150 and USD 1.155 resistance levels. It even settled above USD 1.200, opening the doors for a move towards the USD 1.225 and USD 1.240 levels. On the downside, the USD 1.155 level might act as a strong support.
Other altcoins market today
Many altcoins climbed over 15%, including MATIC, ONE, FTM, UMA, AR, TFUEL, AAVE, RUNE, RVN, DENT, CAKE, THETA, KSM, and KCS. Out of these, MATIC extended its rally above the USD 0.50 level.
To sum up, bitcoin price is gaining pace above USD 53,000. The current price action is bullish, suggesting chances of more gains in BTC above the USD 54,000 level.
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