Bitcoin (BTC) price has rallied past the $50,000 level. As a result of this price surge, BTC extended its increase and surpassed the $51,200 resistance level. The coin is currently consolidating gains and faces its next key barrier around $52,000.
Many major altcoins are now trading in a positive zone. Ethereum (ETH) managed to rise above the $3,500 resistance before correcting lower. Ripple (XRP) is still trading below $1.08 and Cardano (ADA) sits above $2.20. ADA faces resistance near $2.32.
Bitcoin’s price gain
In the past few trading sessions, Bitcoin gained pace for an increase above $50,000. The coin broke through a number of resistance points nea $50,500 and $51,200 and traded close to $52,000 before correcting lower.
An immediate support on the downside currently sits at the $51,200 level. The first support sits at $50,500. If BTC drops below this support, the price may revisit $50,000.
The price is facing resistance near $50,800. The first key resistance is near $52,000, above which the price could surge towards $53,200.
Ethereum price surge
The price of Ethereum also gained pace and rose above the $3,400 resistance. The coin continued to climb above the $3,440 resistance and spiked above $3,500. The price tested the $3,550 level and is currently consolidating gains.
An initial resistance on the upside currently sits at $3,550 and the next ket resistance is near the $3,620 level. If the price surges past this level, it could reach $3,700.
A downside correction could see the price test the $3,450 and $3,440 support levels. The next major support is around $3,380.
Altcoin prices
Cardano (ADA) is consolidating above the $2.20 level and faces immediate resistance near the $2.25 level. The main barrier is at the $2.32 level and a close above this could start a steady increase. The next key resistance is near the $2.50 level.
Litecoin (LTC) extended its increase above the $172 level. The price is struggling to clear the $175 resistance level. If the price manages to break this resistance, it could possibly move up towards the $188 level. The $165 level is a strong downside support.
Dogecoin (DOGE) is on the rise and is currently trading above $0.250. The bulls may soon attempt a clear break above the $0.265 level and the next key resistance sits at $0.275.
XRP price made another attempt to rise above the $1.08 level, but failed. The coin is now consolidating near $1.06 and it seems like the price might attempt to clear above $1.08 one more time. If this does not happen, the price could fall towards the $1.02 support.
