Bitcoin Extends Rally, Ethereum and Altcoins Remain Supported

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In the past few sessions, bitcoin price gained pace for a steady increase above USD 50,000. BTC broke many hurdles near USD 50,500 and USD 51,200. It even traded close to USD 52,000 before correcting lower. An immediate support on the downside is near the USD 51,200 level. The first key support is at USD 50,500, below which the price might revisit USD 50,000.

On the upside, the price is facing resistance near USD 51,800. The first key resistance is near the USD 52,000 level, above which the price could accelerate higher towards USD 53,200.

Ethereum price also gained pace above the USD 3,400 resistance. ETH climbed above the USD 3,440 resistance and it even spiked above USD 3,500. The price tested USD 3,550 and it is now consolidating gains. On the upside, an initial resistance is near the USD 3,550 level. The next key resistance is now near the USD 3,620, above which the price could test USD 3,700.

If there is a downside correction, the price might test the USD 3,450 and USD 3,440 support levels. The next major support is near USD 3,380.

Cardano (ADA) is consolidating above the USD 2.20 level. An immediate resistance is near the USD 2.25 level. The main barrier is still near the USD 2.32 level. A close above USD 2.32 could open the doors for a steady increase. The next key resistance is near the USD 2.50 level.

Litecoin (LTC) extended increase above the USD 172 level. However, the price is still struggling to clear the key USD 175 resistance. If there is a clear break above USD 175, the price may possibly rise towards the USD 188 level. On the downside, the USD 165 level is a decent support.

Dogecoin (DOGE) is rising and it is trading above USD 0.250. The bulls may soon attempt a clear break above the USD 0.265 level. The next key resistance is near the USD 0.275 level.

XRP price made another attempt to clear the USD 1.08 resistance, but failed. It is now consolidating near USD 1.06 and it seems like the bulls might attempt a clear break above USD 1.08 one more time. If not, the price could slide towards the USD 1.02 support.

Many altcoins are up over 5%, including SHIB, SC, THETA, XEM, MINA, ENJ, XDC, CHZ, BCH, NEO, KLAY, HOT, and BTT. Out of these, SBIH started a fresh rally and it gained over 65% in a day, reaching USD 0.00002162.

Overall, bitcoin price is gaining pace above the USD 51,000 level. However, the USD 52,000 level might present resistance in the short-term.

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