Bitcoin Above USD 51K, Ethereum and Altcoins Move Up Too
Bitcoin price reclaimed the USD 50,000 barrier and extended its rise. BTC cleared the USD 51,000 level and traded to a new all-time high. It is currently (13:00 UTC) gaining momentum and it might surpass USD 52,000.
Similarly, most major altcoins are rising steadily. ETH is back above USD 1,800 and it might clear the USD 1,850 resistance. XRP/USD remained stable above USD 0.500 and it is eyeing an upside break above USD 0.550.
Total market capitalization
After a minor decline, bitcoin price gained strength for a fresh push above USD 50,000. BTC climbed over 2% and it traded above USD 51,600. The next key resistance is at USD 52,000, above which the price might accelerate higher towards the USD 52,500 and USD 52,800 levels.
On the downside, the USD 50,500 level is a short-term support. The key support is forming near the USD 50,000 level (the recent breakout zone). Any more losses might lead the price towards the USD 49,200 level.
Ethereum price is gaining pace and it was able to clear the USD 1,800 resistance. ETH cleared the USD 1,830 level and it seems like the price could gain pace above the USD 1,850 resistance. A close above USD 1,850 might set the pace for a push towards the USD 1,880 and USD 1,900 levels.
On the downside, the USD 1,800 level might act as a decent support. The next major support is near the USD 1,750 level, where the bulls might take a strong stand.
ADA, litecoin and XRP price
Cardano (ADA) remained stable above the USD 0.820 support zone. ADA started a fresh increase and it cleared the USD 0.850 resistance. The bulls are in control and they are seemingly eyeing a clear break above the USD 0.900 resistance zone. The next major resistance is near the USD 0.920 level. On the downside, the price could remain well bid above USD 0.850.
Litecoin (LTC) is up 5% and it is gaining momentum above the USD 220 and USD 225 resistance levels. LTC is approaching USD 230 and it might clear the USD 235 resistance. A close above USD 235 could lead the price towards the USD 250 level. On the downside, the USD 215 level is a decent support.
XRP price remained above the USD 0.500 support zone. The price is back above USD 0.540 and it could clear the USD 0.550 resistance. If the bulls succeed, the price may possibly rise towards the USD 0.565 resistance. The next major resistance is near the USD 0.585 level.
Other altcoins market today
A few altcoins climbed over 8%, including CAKE, IOST, DCR, XVS, ZEN, EWT, XMR, BNB, CELO, CRO, BNT, and QNT. Out of these, CAKE gained 30% and it cleared the USD 8.50 resistance.
To sum up, bitcoin price is gaining momentum above the USD 51,000 level. If BTC remains stable above USD 50,500, it could continue to rise towards the USD 52,000 and USD 52,500 levels.