Bitcoin and Ethereum Gain Bullish Momentum, Altcoins Rally

Bitcoin and Ethereum Gain Bullish Momentum, Altcoins Rally

  • Bitcoin price gained bullish momentum above the USD 50,000 resistance.
  • Ethereum rallied 8%, XRP could gain pace if it clears USD 0.85.
  • BTT rallied over 65% and broke the USD 0.0040 level.

Bitcoin price gained pace above the USD 50,000 level. BTC even cleared the USD 50,500 and USD 51,200 resistance levels. It is currently (12:09 UTC) showing bullish signs and the bulls seem to be aiming for a test of USD 52,500.

Besides, most major altcoins are rising steadily. ETH rallied above the USD 4,320 and USD 4,400 resistance levels. XRP might attempt an upside break above USD 0.85. ADA rallied above the USD 1.40 and USD 1.42 resistance levels.

Total market capitalization

Source: tradingview.com

Bitcoin price

After forming a base above the USD 50,000, bitcoin price extended its recovery wave. BTC gained pace for a move above the USD 51,200 resistance level. It is now facing resistance near the USD 52,000 level. The next major resistance is near the USD 52,500 level, above which the price might retest the USD 53,500 level.

If there is a bearish reaction, the price might find support near USD 50,500. The next major support is near the USD 50,000 level, below which the price could test USD 48,500.

Ethereum price

Ethereum price started a strong upward move above the USD 4,320 and USD 4,350 resistance levels. It even surpassed USD 4,400 and is now consolidating gains. The next key resistance is near USD 4,425, above which the price may perhaps rise towards the USD 4,500 level.

On the downside, an initial support is near the USD 4,320 level. The next key support is now forming near the USD 4,280 level.

ADA, BNB, SOL, SHIB, and XRP price

Cardano (ADA) started a fresh increase above the USD 1.40 resistance levels. The bulls gained strength for a move above the USD 1.44 level. The next stop for them may possibly be near the USD 1.50 level.

Binance coin (BNB) is rising steadily and trading above the USD 580 resistance. The next resistance is near the USD 600 level, above which the price might rise towards the USD 620 level. If not, there might be a downside correction towards USD 565.

Solana (SOL) rallied 11% and surpassed the USD 200 resistance. If there is a close above the USD 200 resistance zone, the bulls could even push the price towards USD 220. On the downside, the USD 185 level is a strong support.

SHIB is up 9% and it broke the USD 0.0000375 level. An immediate hurdle is near the USD 0.000038 level. Any more gains could push the price towards the USD 0.000040 level. If not, it might correct lower towards the USD 0.0000355 level.

XRP price is gaining pace above the USD 0.82 level. The next major resistance is near USD 0.850, above which it could gain bullish momentum. In this case, it could rise towards USD 0.920.

Other altcoins market today

Many altcoins are up over 20%, including BTT, LRC, MATIC, KDA, BSV, ROSE, CRO, QTUM, NEXO, ONE, MANA, and FTM. Out of these, BTT rallied over 65% and cleared the USD 0.0040 level. (Learn more: BitTorrent Token Surges as Mainnet Launch Date Gets Confirmed)

To sum up, bitcoin price is gaining pace above the USD 50,500 level. If BTC clears USD 52,000, it could continue to rise towards the USD 53,500 level.

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Originally Posted on: https://cryptonews.com/news/bitcoin-and-ethereum-gain-bullish-momentum-altcoins-rally.htm
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