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Bitcoin Corrects Lower, Ethereum and Altcoins Accelerate – Cryptonews

Posted by OKEx & OKB News

Bitcoin price rallied to a new all-time high near USD 48,200 before starting a downside correction. BTC traded below the USD 47,000 level and it is currently (05:00 UTC) near USD 46,000. The next key support is at USD 45,000, below which there are chances of a larger downside correction.

Besides, most other major altcoins are gaining traction. ETH/USD traded to a new all-time high near USD 1,830 and it is consolidating gains. XRP/USD is rising again and it may soon test or clear USD 0.500.

Total market capitalization

Bitcoin Corrects Lower, Ethereum and Altcoins Accelerate 101
Source: www.tradingview.com

Bitcoin price

After spiking above USD 48,000, bitcoin price started a downside correction. BTC traded below the USD 47,500 and USD 46,800 support levels. It even traded below USD 46,000, but the bulls were active near the USD 45,000 support. If there are more losses, the price might decline towards the USD 43,500 level.
On the upside, the price is facing a key resistance near the USD 47,000 level. A close above USD 47,000 could start a fresh increase towards the USD 48,000 and USD 48,200 levels.

Ethereum price

Ethereum price remained well bid and it climbed above the USD 1,800 level. ETH traded to a new all-time high at USD 1,830 before correcting lower. It is trading near the USD 1,800 level. An initial support
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