Bitcoin, Ethereum, and Altcoins Showing Signs of Fresh Increase

  • 11 February 2021, Thursday, 09:00

Bitcoin price remained well bid above the USD 45,000 level and it started a decent increase. BTC cleared the USD 47,000 resistance and it is currently (13:30 UTC) showing positive signs.

Similarly, most major altcoins are trading in a bullish zone. XRP/USD is slowly moving higher and it may even clear the USD 0.530 level.

Total market capitalization

Bitcoin price

After forming a base above USD 45,000, bitcoin price started an upward move. BTC traded above the USD 47,000 resistance and is approaching USD 48,000. A close above the USD 47,000 level may possibly start a strong increase towards the USD 48,000 and USD 48,400 levels. If there is a fresh downward move, the price could find bids near USD 46,000 and USD 45,800. The key support is now forming near the USD 45,000 level.

Ethereum price

Ethereum price remained stable above USD 1,720 before it rallied above the USD 1,800 level, which might encourage bulls to aim for a new all-time high. The next key resistance could be near the USD 1,850 level. On the downside, the USD 1,750 level is a short-term support. The main support is now forming near the USD 1,700 level. Any more losses may possibly start a strong decline towards USD 1,600 and USD 1,550.

ADA, litecoin and XRP price

Cardano (ADA) is gaining pace above the USD 0.880 and USD 0.900 levels. The price is up over 10% and it might continue higher towards the USD 0.950 and USD 0.975 resistance levels. The next major barrier for the bulls could be at USD 1.00. If there is a downside correction, the price might decline towards the USD 0.850 support level. Litecoin (LTC) is trading above the USD 190 level and it might test the USD 200 resistance level. A break above the USD 200 level could the doors for a push towards USD 220. On the downside, the bulls might remain active above USD 175. XRP price is up over 10% and it is now trading above the USD 0.500 level. An initial resistance is near the USD 0.520 level. A close above the USD 0.520 level may possibly open the doors for a push towards the USD 0.550 level. On the downside, the price might remain stable above USD 0.500.

Other altcoins market today

Many altcoins climbed over 10%, including GRT, MIOTA, ICX, ENJ, BAT, ALGO, YFI, CELO, STX, AVAX, SOL, OCEAN, ADA, KNC, HBAR, and XTZ. Out of these, GRT surged 50% and it cleared the USD 1.65 resistance.

Overall, bitcoin price is showing positive signs above USD 47,000. It seems like BTC is likely to continue higher above this level in the near term. __

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