Bitcoin price extended its rise above the USD 54,000 level. However, BTC failed to test the USD 55,000 level and it is currently (04:00 UTC) consolidating. The current price action suggests chances of a fresh increase as long as the price is above USD 51,500.
Besides, most major altcoins are trading in a bullish zone. ETH climbed higher and tested the USD 2,550 resistance zone. XRP/USD outperformed and it broke many hurdles near USD 1.30 and USD 1.35.
Total market capitalization
After a clear break above the USD 53,250 resistance, bitcoin price extended its rise. BTC even tested the USD 54,500 region before correcting lower. It is now consolidating above the USD 53,000 pivot level. On the upside, an immediate resistance is near the USD 54,200 and USD 54,500 levels. The key resistance sits near the USD 55,000 level.
On the downside, the USD 53,000 level is a decent support. A break below USD 53,000 might call for a drop towards the USD 51,500 support zone.
Ethereum price remained in a positive zone and it extended its upward move above the USD 2,500 level. ETH even tested the USD 2,550 resistance before correcting lower. It is now consolidating near USD 2,500, with a strong support near the USD 2,450 level.
On the upside, the bulls might struggle near USD 2,550. A successful close above USD 2,550 might start a strong increase towards USD 2,650 or even to a new all-time high.
BNB, ADA, DOGE, and XRP price
Binance Coin (BNB) started a downside correction after testing the USD 550 resistance zone. BNB is now consolidating near the USD 525 level. If there are more downsides, the bulls might protect the USD 505 and USD 500 levels. On the upside, the price might gain pace above the USD 550 level.
Cardano (ADA) is up over 5% and it is now trading above the USD 1.220 level. ADA is now approaching the USD 1.25 resistance zone. A clear break above USD 1.25 could open the doors for a steady increase in the coming sessions towards USD 1.30.
Dogecoin (DOGE) extended its rise and it tested the USD 0.280 zone. It is trading above USD 0.25 and there are chances of a fresh increase towards USD 0.30. Conversely, the price could start a fresh decline to test the USD 0.20 support zone.
XRP price rallied over 25% and is the best performing cryptoasset among the top 60 coins by market capitalization. XRP broke the USD 1.30 and USD 1.35 resistance levels. It even tested USD 1.45 and it is now correcting gains. A fresh rally could lead the price towards the USD 1.50 level.
Other altcoins market today
Many altcoins gained over 12%, including WAVES, ONE, MATIC, DENT, FTM, IOST, SC, ENJ, VGX, AVAX, QTUM, KSM, and THETA. Out of these, WAVES rallied over 50%, and ONE climbed 35% and surpassed USD 0.14.
Overall, bitcoin price is trading in a positive zone above USD 53,000. If BTC clears USD 54,500 and USD 55,000, it could start a fresh increase towards the USD 60,000 level.