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Guide & Analysis

Bitcoin recovers $50K Ethereum and Cardano gain strength

Bitcoin price broke the $50,000 resistance. Ethereum breached resistance at $3,300, and XRP retested at $1.25.

Bitcoin recovers $50K Ethereum and Cardano gain strength, Ethereum surpassed the $3,300 resistance and ADA rose more than 10% to surpass the $2.75 level.

Bitcoin price

After closing over $48,000, the bitcoin price gained strength. The BTC managed to clear resistance levels of $49,200 and $49,500. Finally, there was a break above the $50,000 key resistance. It is now consolidating close to $50,000 and may continue to increase. The next key resistance is near $50,500, above which the price could test $51,200.

Immediate support on the downside is near the $49,500 zone. The next big support is near the $49,200 level, below which there is a risk of a move to $48,000.

Ethereum Price

The price of Ethereum is also rising and was able to eliminate the $3,300 resistance. ETH rose 3% and even surpassed the $3,325 resistance. If bulls remain active, there are chances of a move towards the $3,420 level. The next big resistance is near $3,500.

If there is a bearish correction, the price may find support near $3,250. Key support is now forming near the $3,200 level.

ADA, LTC, DOGE and XRP price

Cardano (ADA) outperformed with a big move above the $2.50 resistance. The ADA rose more than 10% and even surpassed the $2.75 level. It is now facing resistance near the $2.85 level. Any additional gains could push the price down to the $3.00 barrier.

Litecoin (LTC) is picking up pace and trying to close above the $188 resistance. If LTC rises further, it may even surpass the $195 resistance. In the stated case, the price could hit the $resistance of $ 200. The next big resistance is near the $220 level.

Dogecoin (DOGE) is trading comfortably above the $0.320 level. An initial resistance is near $0.325, above which the price may revisit the resistance zone of $0.335. Any further gains could drive the price to key resistance of $0.350.

XRP price is rising slowly and has recently tested resistance at $1.25. If there is a close above $1.25, the price may test $1.30 resistance. On the downside, bulls may remain active near the $1,232 and $1,220 levels.

other altcoins

Many altcoins are above 8%, including TEL, NANO, AVAX, DASH, CRV, AIR, ICX, BAT, XMR, CDX, MIOTA, ONE and ONT. Of these, TEL rose 25% and surpassed the $0.025 level.

Overall, bitcoin price is gaining pace above the $50,000 resistance level. If the BTC closes above $50,000, it could rise further to the $52,000 level.

Source: CryptoNews

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