- Bitcoin price could extend its rally towards USD 52,000.
- Ethereum needs to settle above USD 3,550 to accelerate, XRP struggles to reach USD 1.08.
- SHIB rallied 66% and is the best performer among the top 100 coins today.
Bitcoin price is showing positive signs above the USD 50,000 pivot level. BTC could attempt a close above USD 52,000 in the near term. It is currently (11:58 UTC) well supported and a close above USD 52,000 might push the price higher.
Besides, most major altcoins may possibly start a fresh increase. ETH must settle above USD 3,550 to continue higher towards USD 3,700 or even USD 3,750. Similarly, XRP could accelerate higher if there is a close above USD 1.08 and USD 1.10. ADA is still facing a strong resistance near USD 2.32.
Total market capitalization
Bitcoin price
After a close above USD 50,000, bitcoin price surpassed the USD 51,500 resistance. BTC remains elevated and it might attempt a close above the USD 52,000 level. A successful close above this level could start a steady increase. The next key resistance is near the USD 53,200 level, above which the price might rise towards the USD 55,000 level.
If there is a downside correction, the bulls might remain active near the USD 50,000 level. If there is a downside break below USD 50,000, the price could continue to move down in the near term.
Ethereum price
Ethereum price also settled above the USD 3,350 pivot level and USD 3,400. ETH is now facing a major hurdle near USD 3,550 and USD 3,565. A close above USD 3,550 could open the doors for a major increase. The next key resistance is now near the USD 3,620, above which the price could test USD 3,700.
On the downside, an initial support is near the USD 3,400 level. The next major support is near USD 3,350, below which there is a risk of a sharp decline.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is facing an uphill task near the USD 2.30 and USD 2.32 levels. To start a stronger increase, the price must first settle above the USD 2.32 level. If not, the price could drop towards the USD 2.02 and USD 2.00 support levels.
Litecoin (LTC) is trying to settle above the USD 175 level. If it succeeds, the price could test the USD 188 resistance. The next key resistance is at USD 200. Conversely, a failure near USD 175 or USD 178 may possibly start a downside correction towards USD 162 or even USD 160.
Dogecoin (DOGE) rallied above the USD 0.250 level before correcting lower. If the bulls remain in action, the price could rise towards the USD 0.280 level. The next major hurdle for the bulls is near the USD 0.300 level. On the downside, the bulls might remain active near USD 0.240.
XRP price must settle above the USD 1.08 and USD 1.10 level to move into a positive zone. The next major stop for the bulls might be USD 1.20. If there is no upside break, the bears might attempt a break below USD 1.00.
Other altcoins market today
Many altcoins are up over 5%, including SHIB, SC, THETA, XEM, XDC, BSV, BCH, NEO, and HOT. Out of these, SBIH rallied 66% and it might continue to gain traction. However, after a similar rally in May, SHIB crashed sharply.
To sum up, bitcoin price is showing positive signs above USD 50,000. If BTC settles above USD 52,000, it could help the price to accelerate towards the USD 55,000 level.
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Source: Cryptonews
