For the first time in over three months, the price of bitcoin has surpassed $50,000.
On early Monday UTC time, the world’s largest cryptocurrency by market capitalization crossed the $50,000 milestone and is now trading at roughly $50,200.
Around the middle of May, bitcoin’s price was hovering around $50,000.
Following a strong overall market recovery over the last two weeks, bitcoin’s price has risen to slightly below $30,000.
According to CoinGecko data, Bitcoin’s overall market capitalization is once again approaching $1 trillion, hovering at $936 billion.
Bitcoin price gained strength after closing above USD 48,000.
BTC was able to break through the resistance levels of USD 49,200 and USD 49,500.
Finally, the main USD 50,000 resistance level was broken.
It is currently stabilising near USD 50,000 and may rise further.
Near USD 50,500, the next major resistance level, above which the price might touch USD 51,200.
On the downside, near the USD 49,500 level, there is immediate support.
The next key support is near the USD 49,200 level, below which a decline to USD 48,000 is possible.
The price of Ethereum is also climbing, and it has broken over the USD 3,300 barrier level.
ETH is up 3% and has broken through the USD 3,325 resistance.
There is a probability of a surge towards USD 3,420 if the bulls remain active.
Near USD 3,500, the next big resistance is found.
If there is a negative correction, support might be found near USD 3,250.
Near the USD 3,200 mark, a significant support is building.
ADA, LTC, DOGE, and XRP Price
With a significant move above the USD 2.50 resistance, Cardano (ADA) outperformed.
The value of ADA increased by more than 10%, surpassing USD 2.75.
It is currently seeing resistance near USD 2.85.
Any further advances could push the price above the USD 3.00 mark.
Litecoin (LTC) is picking up steam and seeking to close over the USD 188 resistance level.
If LTC continues to rise, it may possibly break through the USD 195 resistance level.
In the above scenario, the price may test the USD 200 barrier level.
Near the USD 220 level, the next major barrier is seen.
Dogecoin (DOGE) is currently trading comfortably above USD 0.320.
The price may revisit the USD 0.335 resistance zone if it breaks through an early obstacle near USD 0.325.
Any further advances could push the market closer to the crucial USD 0.350 barrier level.
The price of XRP has been steadily climbing, and it has lately tested the USD 1.25 barrier level.
If the price closes over USD 1.25, it may test the USD 1.30 resistance level.
On the downside, the bulls may continue to be active at USD 1.232 and USD 1.220.
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