Bitcoin and Ethereum Consolidate Losses, DOT, LUNA, and AVAX Gain Momentum
Bitcoin price attempted a recovery wave above USD 50,800 zone but failed to continue. It is currently (04:27 UTC) trading near USD 48,800, with a key support at USD 48,500.
Similarly, most major altcoins are struggling to recover. ETH could extend losses if there is a close below USD 3,880. XRP is trading below USD 0.850 and might test USD 0.800. ADA is consolidating near the USD 1.30 level.
Total market capitalization
After a downside break, bitcoin price tried to recover from the USD 47,200 support. There was a clear move above the USD 48,500 level. However, the price is facing a key hurdle near USD 50,000. A close above USD 50,000 and USD 50,500 might open the doors for more upsides. The next major resistance is near the USD 52,000 level.
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