Bitcoin price is in consolidation between $46,000 and $48,000, but bulls eye higher than $50,000. Ethereum relentless in the battle for highs above $2,000, but bulls must establish higher support first. Ripple begins the recovery journey to $0.75 after stepping above $0.5. The ongoing bullish cycle is yet to hit its local top despite Bitcoin brushing shoulders with $48,000 (new record high). Ethereum and Cardano are at the helm of the rally as far as altcoins are concerned. Binance Coin has gone ballistic with gains surpassing the recent $100 prediction to achieve new all-time highs at $140. Other altcoins performing incredibly well are Uniswap, EOS, Terra, Huobi Token and Filecoin. Bitcoin holds higher support ahead of massive breakout The king of cryptocurrencies has settled above $46,000 after trading new highs at $48,000. The recent spike from $38,000 happened after Tesla, the company founded by Elon Musk, announced the purchase of $1.5 billion worth of BTC. Meanwhile, the pioneer cryptocurrency appears to have secured higher support, allowing bulls and investors to gather the strength for another rally beyond $50,000. The Relative Strength Index (RSI) on the 4-hour chart validates the consolidation by levelling around 70. A return into the overbought region will signal another upswing and perhaps call for more buy orders. Bitcoin needs to break past $48,000 to kick start the next rally above $50,000. BTC/USD 4-hour chart Ethereum seeks higher support following rejection at $1,840 Ethereum is trading at $1,790 after a minor retreat from highs beyond $1,800. A new all-time high has been formed at $1,840, but the journey to $2,000 appears to have been temporarily halted. Finding higher support will secure the uptrend by confirming to investors that stability exists in the market. The RSI has reinforced the short-term breakdown on the 4-hour chart. A bearish divergence from the price adds credibility to the correction. This deviation comes into the picture when the price forms higher lows while the RSI creates a series of lower highs. In the event support at $1,750 fails to hold, the smart contract token will drop to $1,700. The 50 Simple Moving Average on the 4-hour chart is also in line to provide support if the bearish leg extends under $1,700. ETH/USD 4-hour chart Ripple’s uptrend catches momentum toward $0.65 The cross border token is gradually reclaiming the recently lost support levels. After ricocheting off support at $0.35, its recovery journey has been remarkably consistent. The recent break above $0.45 and $0.5 opened the door for gains eyeing $0.65. However, XRP might retreat to $0.5 before resuming the uptrend due to the overbought conditions, as shown by the RSI. Therefore, bulls must be keen to hold the price above $0.5 and secure the uptrend and thwart losses that could retest $0.45. XRP/USD 4-hour chart Key takeaways Bitcoin temporarily pauses the rally to highs above $50,000 following the gigantic spike from $38,000. Ethereum is seeking higher support before resuming the battle for new record highs above $2,000. Ripple sets for higher price levels following a steady recovery from the immediate support at $0.35. Support at $0.5 will play a key role in averting losses that may retest $0.45 and $0.35 anchor levels. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Spain: Long-term prospects for the economy are far from bright – CE FX Street 2 years Bitcoin price is in consolidation between $46,000 and $48,000, but bulls eye higher than $50,000. Ethereum relentless in the battle for highs above $2,000, but bulls must establish higher support first. Ripple begins the recovery journey to $0.75 after stepping above $0.5. The ongoing bullish cycle is yet to hit its local top despite Bitcoin brushing shoulders with $48,000 (new record high). Ethereum and Cardano are at the helm of the rally as far as altcoins are concerned. Binance Coin has gone ballistic with gains surpassing the recent $100 prediction to achieve new all-time highs at $140. 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