Bitcoin and Altcoins Bracing For Further Upsides
Yesterday, we discussed about more gains in bitcoin above the USD 3,980 and USD 4,000 resistance levels. BTC/USD climbed above the USD 4,000 resistance and tested USD 4,050. The current (UTC 08:00 AM) price action is positive and suggests more gains above USD 4,050 in the near term. Ethereum also traded higher and settled above the USD 138 resistance. Once ETH surpasses the USD 140 resistance, it could accelerate higher in the coming sessions. Ripple price also followed a similar pattern and traded above the USD 0.314 and USD 0.315 resistance levels. However, there is a strong resistance formed near the USD 0.320 level.
Total market capitalization
There were mostly bullish moves in bitcoin price above the USD 3,980 level. BTC/USD broke the USD 4,000 resistance, with a positive angle and tested the USD 4,050 level. It is currently consolidating just below the USD 4,050 resistance, with supports at USD 4,020 and USD 4,000.
On the upside, a break above the USD 4,050 resistance may clear the path for more upsides towards the USD 4,100 and USD 4,120 resistance levels in the near term. The main resistance is near the USD 4,200 level.
Ethereum price formed a solid support above the USD 135 level and traded above the USD 136 and USD 138 resistance levels. ETH/USD is currently placed in a positive zone and it could clear the USD 140 resistance level.
The next major hurdle for buyers is near the USD 144 level. On the downside, if the price fails to stay above the USD 138 support, there could be a downside extension towards to USD 135.
Bitcoin cash, eos and ripple price
Bitcoin cash price is once again moving higher and it could gain momentum above the USD 160 resistance level. BCH/USD may perhaps revisit the USD 165 level, which is a major weekly barrier for buyers.
EOS is currently trading flat near the USD 3.70 level. The price must break the USD 3.75 resistance level to set the pace for more upsides. The next hurdle for buyers is near the USD 3.80 level, above which buyers could push the price towards the USD 3.95.
Ripple price spiked higher once again and tested the USD 0.320 resistance level, where sellers emerged. XRP/USD corrected lower, but it managed to stay above the USD 0.315 support level. In the short term, there could be range moves before the price climbs toward USD 0.320.
Other altcoins market today
In the past two sessions, many small cap altcoins gained traction and climbed more than 8%, including ONT, XTZ, RVN, KCS, HT, MXM, OMG, XVG, GNT and MOAC. Out of these, ONT is up more than 20% and XTZ gained nearly 17%.
Overall, bitcoin price settled above the key USD 4,000 resistance levels. There are many positive signs on charts, signaling more gains in BTC/USD above the USD 4,050 resistance levels. Likewise, there are chances of more upsides in ethereum above USD 140 and ripple above USD 0.318.
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