Bitcoin Consolidates, Ethereum Rallies, Altcoins Gain Traction

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After a clear break above USD 46,000, bitcoin price was able to extend gains. BTC broke the USD 47,000 resistance and it even climbed above USD 48,000. It faced sellers near the USD 48,500 level and is now trying to get momentum above USD 48,200 once again. 

On the upside, the next major resistance is near the USD 48,500 level, above which the price could test USD 49,200. The first major support could be USD 47,000, below which the price could revisit USD 46,500.

Ethereum price outperformed bitcoin and was able to surge above the USD 3,500 resistance. ETH even broke USD 3,550 and spiked above USD 3,600. A close above this level may possibly open the doors for a stronger rally.

An immediate support is near the 3,500 level, below which the price might test USD 3,440. 

Cardano (ADA) is consolidating near the USD 2.50 level. The main breakout zone is still near USD 2.55, above which the price might gain bullish momentum. If not, there is a risk of a move towards the USD 2.25 level.

Litecoin (LTC) is up over 6% and it broke the USD 190 resistance. If the bulls succeed, the price could rise steadily towards the USD 200 level. On the downside, the price might remain stable near the USD 180 level.

Dogecoin (DOGE) is still facing a major resistance near the USD 0.250 level. A close above the USD 0.250 level is a must to start a steady increase. In this case, the price could even surpass the USD 0.265 level. The next major resistance is near USD 0.280.

XRP price is rising and it was able to settle above the USD 1.10 level. The main resistance is still near USD 1.12. A close above USD 1.12 could lift the price towards USD 1.20. Conversely, the price might decline towards the USD 1.05 level.

Many altcoins gained over 8%, including ZEN, REN, SUSHI, AVAX, WAVES, CRV, TEL, CELO, REV, RUNE, and SNX. Out of these, ZEN rallied over 28% and it broke the USD 105 level.

Overall, bitcoin price is showing positive signs above USD 47,000. BTC might correct lower in the short-term, but dips could be limited below USD 46,500 and USD 46,000.

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