Bitcoin Inches Higher, Ethereum and Altcoins Show Positive Signs
Bitcoin price corrected lower below the USD 54,200 support zone. However, BTC remained stable above the USD 53,000 level and it is currently (12:30 PM UTC) rising above the USD 55,000 level.
Besides, most major altcoins are showing positive signs. ETH traded close to USD 1,750 before it started a fresh increase above USD 1,800. XRP/USD is holding gains above USD 0.450 and it might accelerate higher towards USD 0.500.
Total market capitalization
After a short-term downside correction, bitcoin price found support near the USD 53,000 level. BTC recovered above the USD 54,000 and USD 54,500 levels and is trying to gain momentum above the USD 55,000 level. If there is a daily close above USD 55,000, it could prompt further gains.
On the downside, the price might remain stable above USD 53,000. The next key support is now forming near the USD 52,000 level.
Ethereum price tested the USD 1,760 level and started a fresh increase. ETH climbed above USD 1,800 and it might continue higher. The next stop for the bulls is near the USD 1,850 level, followed by USD 1875. Any more gains could push ether above USD 1,900.
If there is a fresh decline, the price might remain stable above USD 1,760 and USD 1,750. Any more losses may possibly call for a test of USD 1,725.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is holding gains above the USD 270 and USD 272 levels. The next major support is near the USD 265 level. If BNB remains stable above USD 265, the bulls might aim for a break above the USD 295 and USD 300 resistance levels.
Cardano (ADA) is recovering and trading above USD 1.150. ADA is showing positive signs and it could soon revisit the USD 1.200 level. The next key resistance is near USD 1.220. On the downside, the price might remain stable above the USD 1.150 and USD 1.120 levels.
Litecoin (LTC) is attempting an upside break above the USD 200 resistance zone. A daily close above the USD 200 level could start a steady increase towards the USD 220 and USD 225 resistance levels. Conversely, USD 185 is a decent support base.
XRP price is stable above USD 0.450 and it is trading above USD 0.462. On the upside, the price is facing hurdles above USD 0.485. The main resistance is still near the USD 0.500 level, above which there could be a strong rally.
Other altcoins market today
Several altcoins climbed over 8%, including MATIC, NPSX, RVN, KSM, THETA, TFUEL, AVAX, BTT, EGLD, and CHSB. Out of these, KSM accelerated and surpassed the USD 300 level.
To sum up, today, bitcoin price reached USD 55,000 for the first time since February 23 and is seemingly gaining momentum.