Bitcoin Consolidates, Ethereum Flat, XRP and LINK Rally

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After a strong upward move above USD 51,500 bitcoin price struggled to clear the USD 52,000 resistance. BTC is now consolidating and it might make another attempt to surpass USD 52,000. If there is a close above USD 52,000, the price could rise steadily towards the USD 53,200 and USD 53,500 levels.

On the downside, an initial support is seen near the USD 51,200 level. The first major support is now forming near the USD 50,500 level, below which the price might slide towards USD 50,000.

Ethereum price is stuck below the USD 4,000 resistance zone. An immediate barrier is near USD 3,985, above which there are chances of a move towards USD 4,040. The next major barrier for the bulls could be near the USD 4,200 level.

If there is a fresh decline, the price could find support near USD 3,900. The next major support is near the USD 3,850 level.

Cardano (ADA) is still struggling to clear the USD 2.98 and USD 3.00 resistance levels. If the bulls succeed, the price could rise towards the USD 3.12 level. Conversely, there is a risk of a downside correction towards the USD 2.80 level. The next major support is near the USD 2.65 level.

Litecoin (LTC) is up over 4% and it broke a major barrier near USD 225. The price is now consolidating below USD 230. If it continues to rise, the next stop for the bulls could be USD 248 and USD 250. On the downside, an initial support is near the USD 225 level. The next major support sits at USD 212.

Dogecoin (DOGE) jumped 4% and it broke the USD 0.315 resistance. It even spiked and tested USD 0.320. If there are additional gains, the price could rise towards the USD 0.335 resistance. On the downside, the bulls might remain active near the USD 0.300 level.

XRP price gained pace above the USD 1.335 resistance. It is up by 8% and it even cleared the USD 1.35 resistance. The bulls pushed the price above USD 1.38, but there was no test of USD 1.40. Any more gains could set the pace for a move towards the USD 1.50 level.

Many altcoins gained over 5%, including QNT, OMG, FIL, FTT, PERP, LINK, QTUM, FTM, EOS, BCH, DGB, MDX, AMP, and HT. Out of these, OMG rallied over 25% and it surpassed the USD 9.0 level.

To sum up, bitcoin price is still moving higher and it might attempt a break above USD 52,000. If BTC succeeds, it could rally towards the USD 53,500 level in the near term.