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    Bitcoin Targets Additional Gains, Ethereum Consolidates, SHIB Rallies

    • Bitcoin price extended its increase above the USD 54,000 resistance.
    • Ethereum is consolidating near USD 3,500, XRP hit USD 1.08.
    • SHIB keeps rallying and is now the 12th largest coin by market cap.

    Bitcoin price extended its upward move above the USD 52,000 resistance. BTC was able to move above the USD 53.200 resistance and it spiked above USD 55,000. It is currently (04:32 UTC) consolidating gains above USD 55,000 and it might rise further above USD 55,500.

    On the other hand, most major altcoins are struggling to gain pace. ETH is consolidating near the USD 3,500 pivot, while XRP finally reached the USD 1.08 resistance levels. ADA moved closer to USD 2.20 again.

    Total market capitalization

    Source: https://www.tradingview.com

    Bitcoin price

    After a successful break above USD 52,000, bitcoin price extended its rally. BTC was able to move above the USD 53,200 and USD 54,500 resistance levels. It even surpassed USD 55,000 and tested USD 55,750. The price is now consolidating gains, with an immediate support at USD 54,500. The first key support is at USD 54,000, below which the price might test USD 53,200.

    On the upside, the price is facing resistance near USD 55,500. The first key resistance is near the USD 56,200 level, above which the price could accelerate higher towards USD 57,800.

    Ethereum price

    Ethereum price settled above the USD 3,500 pivot level. However, ETH is struggling to gain momentum above the USD 3,550 and USD 3,580 levels. The next key resistance is now near the USD 3,620, above which the price could rise towards the USD 3,750 level.

    On the downside, an initial support is near the USD 3,450 and USD 3,440 support levels. The next major support is near USD 3,400, below which the price might test USD 3,350.

    ADA, LTC, DOGE, and XRP price

    Cardano (ADA) failed to clear the USD 2.25 resistance level and is now trading below USD 2.20 but is showing some positive signs. If the bears remain in action, there is a risk of a move towards the USD 2.12 level. The next major support is near the USD 2.05 level.

    Litecoin (LTC) was able to climb above the key USD 175 resistance. The next key resistance is near the USD 185 and USD 188 levels. If there is a clear break above USD 188, the price could accelerate higher towards the USD 200 level. On the downside, the USD 172 level is a decent support.

    Dogecoin (DOGE) rallied above the USD 0.250 and USD 0.265 resistance levels. However, it failed to test the USD 0.280 resistance and corrected lower. It is now trading below USD 0.250 and it might continue to move down towards the USD 0.232 support level.

    XRP price is consolidating near the USD 1.05 level. On the upside, the price is facing resistance near USD 1.10. A close above this level could set the pace for a move towards USD 1.20. If there is a drop, the price could test USD 1.00.

    Other altcoins market today

    Many altcoins are up over 5%, including SBIH, AR, BTG, FTM, XLM, DYDX, BTCB, WBTC, XMR, KLAY, and CRO. Out of these, SBIH remained in a major uptrend and it rallied further by 36 % in a day, reaching USD 0.00003. The price is now up by 336% in a week.

    Overall, bitcoin price is showing positive signs above the USD 54,000 level. BTC might correct lower, but dips could be limited below the USD 43,200 level.

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