Bitcoin price started a downward correction from the USD 51,850 zone. BTC fell below the USD 50,000 support zone, but the bulls were active above the USD 49,200 zone. It is currently (12:30 UTC) above USD 50,000 and could move higher.
Similarly, most of the major altcoins trade above key supports. ETH corrected lower below USD 1,700 but stayed well above the USD 1,660 level and moved higher again. XRP / USD is rising and it looks like the bulls may break the USD 0.482 resistance zone.
Total market capitalization
After Bitcoin price rose steadily towards the USD 52,000 resistance, it began a downward correction. BTC traded below the USD 51,000 and USD 50,000 levels. However, the bulls were active near the USD 49,200 support zone. The price rebounded and was back above the $ 50,000 level. If the price remains stable above USD 50,000, it could move towards USD 52,000.
On the flip side, the USD 50,000 is a short-term support, followed by the USD 49,200. The key support is now forming near the USD 48,000 level.
The price of Ethereum also followed Bitcoin, correcting below the USD 1,720 and USD 1,700 levels. ETH traded close to the USD 1,660 support where it found strong buying interest. The price is back above USD 1,700 and it looks like it may revisit the USD 1,750 zone.
On the flip side, initial support is near the USD 1,700 level. The main support is now forming near the USD 1,660 and USD 1,650 levels.
BNB, ADA, Litecoin and XRP prices
Binance Coin (BNB) struggled to stay above the USD 240 level and corrected lower. The NBB even traded below USD 232, but remained stable above USD 225. The price is consolidating above $ 230 and could continue to climb towards $ 240.
Cardano (ADA) fell out of the $ 1.180 zone and fell below the $ 1.150 level. ADA is approaching the USD 1,100 support zone and may rebound. The first major resistance is near USD 1,150, above which the price could revisit the USD 1,180 zone.
Litecoin (LTC) failed to remove USD 195 resistance again and corrected lower. LTC is now testing the USD 182 support. The next major support is near the USD 175 level. On the upside, the price could rise once there is a significant break above the USD 195 and USD 200 resistance levels.
The XRP price is above average, trading above the USD 0.465 level. The price could break the USD 0.482 resistance to test the USD 0.500 zone. A significant break above $ 0.500 could take the price towards $ 0.520.
Other altcoin market today
Several altcoins remained in the bullish zone, including ENJ, MANA, CHZ, HBAR, CEL, YFI, ZEN, REN, THETA, TFUEL, DOGE, XTZ, and VET. Conversely, OCEAN and ZKS fell by over 10%.
In conclusion, the Bitcoin price is above $ 49,200 and $ 50,000. If BTC stays stable above USD 49,200, there could be a new move towards USD 52,000.
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