Bitcoin Rallies 10%, Ethereum and Altcoins Surge

Celý článek

Total market capitalization
 

After a proper close above USD 43,500, bitcoin price started a fresh rally. BTC gained pace above the USD 44,400 and USD 45,500 resistance levels. The price is up nearly 10% and it could even accelerate higher above the USD 47,500 level. The next key resistance is near the USD 48,000 level, above which the price may possibly rise towards the USD 50,000 level.

On the downside, an immediate support is near USD 46,500. The next key support is forming near USD 46,200, below which the price might test USD 45,500.

Ethereum price also started a major upward move above the USD 3,050 resistance. ETH cleared the USD 3,120 and USD 3,150 resistance levels. The price even cleared the USD 3,200 level and it might rise towards the USD 3,320 level. The next major resistance is near the USD 3,500 level.

If there is a downside correction, an initial support is at USD 3,150. The first major support is now forming near the USD 3,120 level.

Cardano (ADA) is up almost 7% and it broke the main USD 2.20 resistance level. If the price remains supported, it might continue to move higher towards the USD 2.32 and USD 2.35 levels. On the downside, the USD 2.12 level is a major breakdown support.

Litecoin (LTC) broke many hurdles near USD 155 and USD 160. The next key resistance is near the USD 168 level, above which the next target for the bulls could be USD 188. If there is a downside correction, the previous resistance near USD 155 may possibly provide support in the near term.

Dogecoin (DOGE) gained pace above the USD 0.205 resistance level. The price even cleared the USD 0.212 level and it might rise steadily towards the USD 0.220 level. On the downside, the bulls might remain active near the USD 0.208 and USD 0.205 levels.

XRP price gained pace for a move above the USD 0.980 and USD 1.0 resistance levels. If there is a close above USD 1.00, the price could accelerate higher. The next major hurdle is USD 1.05 and USD 1.08, above which the bulls might test the USD 1.20 level. If there is a downside correction, the USD 0.980 level might provide support.

Many altcoins are up over 10%, including VET, QTUM, OMG, AR, XTZ, NEAR, AMP, RUNE, AUDIO, EGLD, MIOTA, LUNA, UNI, GRT, MATIC, ICX, and SRM. Out of these, VET rallied 25% and it surpassed the USD 0.10 level.

Overall, bitcoin price is surging and it broke many hurdles near USD 45,500 and USD 46,500. If BTC continues to rise, it could test the USD 48,000 and USD 48,800 levels.

_____