Bitcoin and Ethereum look for short-term breakout, OHM rallies

Bitcoin cost had the option to recuperate over the USD 47,000 level. Be that as it may, BTC is confronting a strong resistance close to the USD 48,000 level. It is as of now (12:43 UTC) giving positive signs, however the USD 48,000 zone holds the key. Likewise, most major altcoins are eyeing an upside break. ETH moved above USD 3,800 and confronting resistance close to USD 3,850. XRP might speed up in the event that it clears the USD 0.850 zone. ADA is as yet combining over the USD 1.35 zone.

On the downside, an initial support is near the USD 47,000 zone. The first key support is near USD 46,500, below which the price may drop to USD 45,500.

Bitcoin price
After forming a base, bitcoin price started an upside correction above USD 47,000. BTC even cleared the USD 47,200 level. An immediate resistance is near the USD 48,000 level. The next major resistance is now forming near USD 48,500. A close above USD 48,500 could send the price higher in the near term.

Ethereum price
Ethereum price was able to recover above the USD 3,800 level. ETH is now facing a major resistance near USD 3,850. The next hurdle is near USD 3,880, above which the price could test the USD 4,000 level.

ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is still consolidating above the USD 1.35 level. An immediate resistance is near the USD 1.38 level. A convincing move above USD 1.38 may send the price towards USD 1.40. If not, it could correct lower towards USD 1.32.

On the downside, an initial support is near the USD 3,750 level. The first major support is near USD 3,720, below which the price could retest USD 3,650.

Binance coin (BNB) is rising and trading near USD 533. The next key hurdle is near the USD 545 and USD 550 levels, above which the bulls may gain strength.

Solana (SOL) is consolidating near the USD 175 level. An initial hurdle is near the USD 178 and USD 180 levels, above which the price could test USD 188. If not, it may possibly test the USD 165 support.

Dogecoin (DOGE) is stuck near the USD 0.173 support zone. If there is an upside reaction, the price might face resistance near the USD 0.180 level. On the downside, the bulls may remain active near the USD 0.165 level. XRP price is facing a hurdle near the USD 0.85 level. A clear move above that level may set the pace for a larger increase. In this case, the price could rise towards the USD 0.92 level.

Other altcoins market
Many altcoins are up over 5%, including YFI, OHM, AAVE, UNI, ONE, KLAY, COMP, LINK, ATOM, MKR, QNT, and NEXO. Out of these, OHM jumped 13% in a day, reached USD 333, and trimmed its weekly losses to less than 13%. To sum up, bitcoin price is still struggling to clear the USD 48,000 resistance. If BTC breaks the barrier, there may be a steady move towards the USD 50,000 level.

News Summary:

  • Bitcoin and Ethereum look for short-term breakout, OHM rallies
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