Bitcoin, Ethereum, and Altcoins Recovering Losses – Cryptonews

Bitcoin price remained well bid above the USD 46,000 support. BTC started a fresh increase above the USD 47,000 and USD 47,500 resistance levels. It is currently (13:00 UTC) showing positive signs, but it must settle above the USD 48,000 resistance for upside continuation.

Similarly, most major altcoins are recovering losses. ETH is back above USD 1,800. XRP/USD climbed back above USD 0.565 and it might soon test the USD 0.585 resistance.

Total market capitalization

Bitcoin, Ethereum, and Altcoins Recovering Losses 101
Source: www.tradingview.com

Bitcoin price

After a sharp decline, bitcoin price found support near the USD 46,000 level. BTC formed a support base and started a steady increase above USD 47,000. The bulls pushed the price above the USD 48,000 resistance. If there is a proper close above USD 48,000, the price might accelerate higher.
On the downside, USD 47,500 is a short-term support. The first key support sits at USD 47,000, below which the price might drop to USD 46,200.

Ethereum price

Ethereum price recovered sharply after testing the USD 1,660 level. ETH is back above the USD 1,800 levels. A successful close above USD 1,800 may possibly spark a move towards the USD 1,850 level.
On the downside, the price might remain well bid above USD 1,750. The next key support is near USD 1,700, where the price might find a strong buying
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