Bitcoin, Ethereum, and Altcoins Recovering Losses

Bitcoin, Ethereum, and Altcoins Recovering Losses

Bitcoin price stayed well bid above the USD 46,000 support. BTC started a fresh increase above the USD 47,000 and USD 47,500 resistance levels. It is currently (13:00 UTC) showing positive indications, however it needs to settle above the USD 48,000 resistance for upside continuation.

Most major altcoins are recovering losses. ETH is back above USD 1,800. XRP/USD climbed up back above USD 0.565 and it might quickly test the USD 0.585 resistance.

Bitcoin price

After a sharp decrease, bitcoin price found support near the USD 46,000 level. BTC formed a support base and started a consistent increase above USD 47,000. The bulls pressed the price above the USD 48,000 resistance. The price may speed up greater if there is a correct close above USD 48,000.
On the downside, USD 47,500 is a short-term support. The first crucial support sits at USD 47,000, below which the price may drop to USD 46,200.

Ethereum price

Ethereum price recovered greatly after testing the USD 1,660 level. ETH is back above the USD 1,800 levels. A successful close above USD 1,800 may potentially stimulate a relocation towards the USD 1,850 level.
On the downside, the price may remain well bid above USD 1,750. The next key support is near USD 1,700, where the price might discover a strong buying interest.

XRP, litecoin and ada price

Cardano (ADA) recovered most its losses from the USD 0.650 support zone. ADA is trading above the USD 0.800 and USD 0.820 level. An instant resistance is near the USD 0.865 level. The primary resistance is near the USD 0.880 level, above which the price might surge towards the USD 0.900 resistance level.

Litecoin (LTC) tested the USD 185 support level, where the bulls took a strong stand. LTC began a fresh boost and it settled above the USD 200 pivot level. A preliminary resistance is near the USD 215 level. The next major resistance is seen near the USD 225 level, above which the price may increase towards the USD 250 resistance.

XRP price tested the USD 0.520 support zone and started a strong healing. The price is back above the USD 0.550 pivot level and it is revealing positive signs. The bulls are seemingly going for an upside break above the USD 0.585 resistance. The price might retest the USD 0.600 resistance if they are successful. On the downside, the price might find support near USD 0.550 and USD 0.540.

Other altcoins market today

A number of altcoins gained over 5%, consisting of BTG, EWT, DGB, RVN, KSM, DASH, THETA, FIL, SUSHI, FLOW, and GRT. Conversely, EGLD, ONT, LSK, CRV, MANA, and QTUM are down more than 10%.

To sum up, bitcoin price is back in a positive zone and it recovered losses from USD 46,000. Having said that, if BTC fails at the USD 48,000 level, there are possibilities of a fresh decline.