Bitcoin Consolidates, Ethereum and SOL Gain Momentum

Bitcoin price is facing an uphill task near USD 48,000 and USD 48,500. Ethereum is up over 7%, XRP is consolidating above USD 1.10. SOL extended its rally above the USD 120 level.

Bitcoin price found support above the USD 46,650 level and is now (11:55 UTC) moving towards USD 48,000. To start a stronger increase, the price must clear the USD 48,500 resistance.

Most major altcoins are stuck in a range while ETH gained pace above the USD 3,250 and USD 3,300 resistance levels. XRP is consolidating above USD 1.10 and it is facing resistance near USD 1.15. ADA might attempt an upside break above the USD 2.88 and USD 2.95 resistance levels.

Total market capitalization

Bitcoin price

After a minor drop, bitcoin price found support near USD 46,650. BTC remained well bid and it is moving higher towards USD 48,000. The first key resistance is near USD 48,200. The main resistance is now forming near USD 48,500, above which there are chances of a move towards the USD 50,000 level.
On the downside, the price might continue to find bids near USD 46,500. The next major support is near USD 46,200, below which there is a risk of a move towards the USD 45,000 level.

Ethereum price

Ethereum price is up over 7% and it broke the key USD 3,250 resistance. ETH even climbed above USD 3,400. A close above USD 3,350 could set the tone for a test of USD 3,500.
On the downside, the price might find support near USD 3,280. The next major support is near USD 3,250 (the recent hurdle for the bulls).

ADA, LTC, DOGE, and XRP price

Cardano (ADA) seems to be preparing for a big move, with an immediate resistance at USD 2.85. The first major resistance is near USD 2.88, above which the bulls could even push the price above USD 2.95 and USD 3.00. If there is a downside correction, the USD 2.65 level might provide support.
Litecoin (LTC) tested the USD 165 support, where the bulls emerged. The price is now recovering and it is back above USD 170. If there is a clear break above USD 172 and USD 175, the price could accelerate towards USD 185. On the other hand, the price might revisit USD 165.
Dogecoin (DOGE) is attempting another upward move, with a key barrier near USD 0.280. A close above USD 0.280 and USD 0.282 may possibly open the doors for a move towards the USD 0.300 level. If not, it might retest the USD 0.250 support in the near term.
XRP price is stuck between USD 1.10 and USD 1.15. If the bulls continue to protect the USD 1.10 support, there could be an upside break above USD 1.15. The next major resistance is near the USD 1.20 level.

Other altcoins market today

Many altcoins are up over 5%, including AR, CELO, ONE, ATOM, KSM, FTM, SOL, ALGO, DOT, CRV, UNI, SUSHI, EGLD, DGB, and HT. Out of these, AR rallied over 50% and it surpassed the USD 60 level.

To sum up, bitcoin is still struggling below USD 48,500, while ETH and SOL are gaining pace. If BTC remains stable above USD 46,500, it could start an increase towards USD 50,000 in the near term.
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