Bitcoin Plays With USD 50K, Ethereum, ADA, XRP Target Additional Gains

2 September 2021

in DOT

Reading Time: 3 mins read

Bitcoin price started a steady increase above the USD 48,500 resistance. BTC is currently (11:57 UTC) gaining pace above USD 49,500 and it could rally further above USD 50,000. A close above USD 50,000 might set the pace for a move towards USD 52,000.

Besides, many major altcoins are rising steadily. ETH is consolidating gains near USD 3,750 and it could gain pace above USD 3,800. XRP broke the USD 1.270 resistance and it may possibly test the USD 1.300 level. ADA is also rising and it could surpass the USD 3.12 level.

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Total market capitalization

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Source: www.tradingview.com

Bitcoin price

After a close above USD 48,500, bitcoin price started a steady increase. BTC broke the USD 49,200 and USD 49,500 resistance levels. The price is showing positive signs and it could even rally above USD 50,000. A close above USD 50,000 may possibly open the doors for a move towards the USD 52,000 level.
On the downside, an initial support is near the USD 49,200 level. The next major support is near the USD 49,000 level, below which the price could test USD 48,500.

Ethereum price

Ethereum price rallied above the USD 3,800 level. ETH tested USD 3,850 before correcting lower. The price is now consolidating gains, with an immediate resistance near USD 3,800. The next major resistance is near USD 3,850, above which the price could test USD 4,000.
If there is a downside correction, the price could find support near USD 3,720. The next key support is near the USD 3,700 level, below which there is a risk of an extended decline.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) rallied over 8% and it settled above the USD 3.00 level. It is now consolidating near USD 3.05, with an immediate hurdle near USD 3.12. If the bulls remain active, the price could rise towards the USD 3.20 and USD 3.25 levels.
Litecoin (LTC) is rising steadily above USD 180 and it recently surpassed the USD 185 resistance. If LTC gains pace above USD 188, it could test the main USD 200 resistance zone. On the downside, the price might find support near the USD 180 level.
Dogecoin (DOGE) rallied and it broke the USD 0.300 resistance. It is now facing resistance near the USD 0.312 level. Any more gains could set the pace for a move above the USD 0.320 level. On the downside, the USD 0.285 level is a decent support.
XRP price is up almost 8% and it broke the USD 1.265 resistance level. The price even spiked above USD 1.28 and it seems like the bulls are aiming for a test of USD 1.30. If there is a downside correction, the price might find bids near USD 1.265. The next major support is now forming near the USD 1.250 level.

Other altcoins market today

Many altcoins are up over 5%, including FTT, MIOTA, REV, KSM, XDC, TRX, DOT, TEL, LINK, VET, HOT, and AMP. Out of these, MIOTA rallied over 20% and it surpassed the USD 1.35 level.

To sum up, bitcoin price is showing positive signs above USD 49,200. If BTC settles above USD 50,000, there could be more gains towards the USD 52,000 level.
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