Bitcoin and Ethereum Rally

Bitcoin’s price rallied after forming a solid support base above USD 48,000. The USD 50,000 and USD 51,000 resistance thresholds were broken by BTC. It is currently correcting gains after nearly testing the USD 52,000 resistance.

Similarly, the majority of big altcoins are showing signs of improvement. The price of Ethereum climbed over the USD 1,700 resistance level and tested the USD 1,750 level. The price of XRP/USD has remained steady above USD 0.450, and it could continue to rise towards the USD 0.500 resistance.

Bitcoin’s price has been that above the USD 50,000 resistance mark for the past three sessions. BTC also surpassed the USD 51,000 mark, testing the USD 51,850 mark. It is currently reversing gains and selling around USD 51,000. Near the USD 50,000 mark, there is immediate support. Near the USD 49,200 mark, the first major support occurs.

Near the USD 48,000 mark, the key weekly support is now forming. On the upside, the USD 52,000 level represents a significant breakout zone for a sharp increase.

The price of Ethereum followed bitcoin’s lead and traded above the main USD 1,650 resistance level. ETH also broke through the USD 1,700 resistance level and tested the USD 1,750 mark. It’s now consolidating gains above USD 1,700, and it could rise more to USD 1,780 or USD 1,800.

According to cryptonews.com, if a new decrease occurs, USD 1,700 serves as a decent support level. Near the USD 1,660 and USD 1,650 stages, a large support zone is forming.

Binance Coin (BNB) has built a support base above USD 225 and is slowly growing. BNB broke through the USD 235 resistance, opening the way for a push towards the USD 250 stage. If there are more positive factors, the price could increase to USD 275.

Cardano (ADA) has reclaimed the USD 1.100 mark and is showing signs of improvement. Near the USD 1.150 level, there is immediate resistance. Near the USD 1.200 mark, the biggest obstacle to a greater rise exists. The primary weekly support is at USD 1.050 on the downside.