Bitcoin, Ethereum and Altcoins Try to Gain Bullish Momentum

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After a steady move above USD 48,000, bitcoin price faced sellers near USD 48,500. Recently, there was a downside correction and BTC traded below USD 48,000. However, downsides were limited below USD 47,200 and USD 47,000. On the upside, an immediate resistance is near the USD 48,200. The first major resistance is near the USD 48,500 level, above which the price could rise towards USD 49,200.

On the downside, an immediate support is USD 47,400. The first major support is near USD 47,000, below which the price could test USD 46,500.

Ethereum price remains in a bullish trend and it settled well above the USD 3,500 level. ETH is rising and it could attempt a close above USD 3,600. If the bulls succeed, the price could rise further towards the USD 3,650 level. The next major resistance on the upside could be USD 3,720.

An initial support is near the 3,520 level. The first major support is at USD 3,500. Any more losses may possibly lead the price towards the USD 3,440 level.

Cardano (ADA) is stuck near the USD 2.45 level. To start a steady increase, it must clear the USD 2.50 and USD 2.55 resistance levels. In this case, the price may even clear USD 2.65. The next key resistance is near USD 2.80. If there is a fresh decline below USD 2.40, the price might retest the USD 2.32 level.

Litecoin (LTC) is up 5% and it broke the USD 188 resistance. It seems like the bulls are aiming for a test of the USD 200 level. Any more gains could open the doors for a move towards the USD 220 level. If there is a downside correction, the bulls might remain active near USD 180.

Dogecoin (DOGE) is still facing a major resistance near the USD 0.250 level. A proper break above the USD 0.250 level could set the pace for a stronger increase. The next major resistance is at USD 0.265, above which the price might test USD 0.280.

XRP price is aiming for a clear break above the USD 1.12 resistance level. In this case, the price could rise steadily towards the USD 1.20 level. If not, there could be a downside correction towards the USD 1.05 level. The main breakdown support is near the USD 1.00 level.

Many altcoins are up over 5%, including REN, ZEN, SNX, SUSHI, RUNE, AVAX, CRV, ZRX, WAVES, ALGO, MATIC, and MKR. Out of these, ZEN and SUSHI are up over 18%.

To sum up, bitcoin price is rising steadily above USD 47,200. If BTC clears the USD 48,500 resistance, there could be a move towards the USD 50,000 level.

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