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Bitcoin and Ethereum have price correction, but trend is up

Bitcoin and Ethereum have price correction, but trend is up
Bitcoin and Ethereum have price correction, but trend is up
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Bitcoin price continues in an uptrend above the $46.500 and $48.000 resistance levels. BTC even broke the $49.200 resistance level, but there was no test of $50.000, currently the price is correcting downwards and trading below $48.000.

Likewise, most major altcoins are correcting downwards. ETH has pulled back in its price and failed to test the $3.500 resistance. XRP managed to settle above the $1,00 pivot level. ADA spiked to $2,32 before correcting to the current low.

Bitcoin price

After a close above $46.500, the bitcoin price extended its price high. BTC broke the $48.000 and $48.500 resistance levels. The coin's value even rose above the $49.000 level and tested $49.250. It is now making a correction and trading below $48.000. On the downside, an immediate support is near the $47.200 level, if it ramps up the second major support is now forming near the $46.500 level.

Bitcoin Chart

An immediate hurdle is near the $48.000 level. The next key resistance is near the $49.250 level, above which the price could test the $50.000 key barrier.

Ethereum Price

O ethereum price had an exponential rally above the $3.150 resistance. The ETH cryptocurrency even broke the $3.380 resistance, but failed to test the $3.500 zone. The currency had close to $3.480 before there was a bearish correction. Now Ethereum is trading close to $3.320, its first support is at $3.250, if it loses that support the price can get its weekly main support at $3.200.

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Ethereum Graph

Currency one has initial resistance near the USD 3.420 level, if it breaks this resistance the buying force could push the price near the levels of USD 3.480 and USD 3.500.

ADA, LTC, DOGE and XRP price

Cardano (ADA) gained pace for a move above the $2,20 level. It rose above $2,30 but failed close to $2,32. The price is back below $2,20, but bulls may remain active near the $2,12 level. The next big support is near $2,05

Litecoin (LTC) it rose above the $155 and $165 resistance levels. It tested the $175 level before correcting down. It now trades near $165 with an initial support of $160. Major breakout support is now forming near $155.

Dogecoin (DOGE) managed to overcome the resistance level of $0,212. It even surpassed USD 0,220, but there was no continuation of the high. The price is consolidating near $0,215, with many supports on the downside near $0,212 and $0,205.

O XRP price gained momentum for a move above major resistance of $1,00. It even broke the $1,05 level, but had problems close to $1,08. XRP is now consolidating above $1,00.

Other altcoins today

Some altcoins are above 5%, including AXS, DYDX, ALGO, TEL, HNT, CRV, HOT, SHIB, XTZ and EOS. Of these, the AXS rose 25% and surpassed the $135 level.

In general, the bitcoin price it is trading in a positive zone above the $47.000 level. In the short term, there could be a bearish correction, but the bullish force could move closer to $45.500 or $45.000.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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