Bitcoin Extends Rally, Ethereum and Altcoins Remain Supported

• Bitcoin price extended its increase above the USD 51,200 resistance.
• Ethereum spiked above USD 3,500, XRP is still below USD 1.08.
• SHIB rallied over 65%, and THETA gained 10%.

Bitcoin price settled above the USD 50,000 pivot level. As a result, BTC extended its increase and surpassed the USD 51,200 resistance. It is currently (04:37 UTC) consolidating gains, with a key barrier near USD 52,000.

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Besides, most major altcoins are trading in a positive zone. ETH managed to spike above the USD 3,500 resistance before correcting lower. XRP is still trading below USD 1.08, while ADA is stable above USD 2.20, but it is facing resistance near USD 2.32.

Total market capitalization

Bitcoin price

In the past few sessions, bitcoin price gained pace for a steady increase above USD 50,000. BTC broke many hurdles near USD 50,500 and USD 51,200. It even traded close to USD 52,000 before correcting lower. An immediate support on the downside is near the USD 51,200 level. The first key support is at USD 50,500, below which the price might revisit USD 50,000.

On the upside, the price is facing resistance near USD 51,800. The first key resistance is near the USD 52,000 level, above which the price could accelerate higher towards USD 53,200.

Ethereum price

Ethereum price also gained pace above the USD 3,400 resistance. ETH climbed above the USD 3,440 resistance and it even spiked above USD 3,500. The price tested USD 3,550 and it is now consolidating gains. On the upside, an initial resistance is near the USD 3,550 level. The next key resistance is now near the USD 3,620, above which the price could test USD 3,700.

If there is a downside correction, the price might test the USD 3,450 and USD 3,440 support levels. The next major support is near USD 3,380.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) is consolidating above the USD 2.20 level. An immediate resistance is near the USD 2.25 level. The main…