|After BTC broke the USD 48,000 resistance, the Bitcoin price began a new rise. BTC increased momentum and it exceeded the resistance of USD 49,400. It has also traded around USD 49,975 to a new all-time high and it is currently consolidating gains. |
Most big altcoins display signs of further gains. ETH/USD is back above USD 1,800, but USD 1,830 must be explicit for more gains.
Bitcoin price gained bullish momentum after a strong recovery over USD 48,000. It is over 5 percent higher and it also soared above the amount of USD 49,000. At USD 49,975, BTC traded to a fresh all-time high, but there was no USD 50,000 test. At present, gains are being consolidated and it seems like the bulls might make another attempt to clear USD 50,000.
On the downside, the initial support is similar to the amount of USD 49,000. The first major support is near the amount of USD 48,500, below which the price could drop to USD 48,000.
According to cryptonews.com, the price of Ethereum was able to gain strength above the USD 1,750 mark and also cleared the resistance of USD 1,800. Near the USD 1,830 and USD 1,840 levels, ETH is now facing resistance. A successful close above the level of USD 1,840 could open the doors to a new all-time high.
The price could find bids near the USD 1,780 level on the downside. The big support is now emerging near the level of USD 1,750, below which the price could test USD 1,710.
Cardano (ADA) is up over 10 percent and the bulls have been able to clear the resistance of USD 0.850. ADA is showing promising signs now and it may begin to climb to the level of USD 0.920. The next main resistance is near the level of USD 0.950, above which the price could rally to the level of USD 1.00.
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