Bitcoin and Ethereum Bulls Hesitate, BNB Extends Rally Above USD 600
Bitcoin price is still trading below the USD 60,800 and USD 61,000 resistance levels. BTC is currently (12:00 UTC) flirting with the USD 60,000 level and if there is a downside correction, the USD 59,200 and USD 59,000 levels might provide support.
Besides, most major altcoins are showing positive signs. ETH is holding gains above USD 2,100, but it is facing resistance near USD 2,180. XRP/USD is consolidating gains above the USD 1.300 support. BNB rallied over 25% and it traded to a new all-time high at USD 610 (per Coingecko).
Total market capitalization
Recently, bitcoin price dipped a few points, but the bulls were active above the USD 59,000 zone. BTC is rising and it is trading above the USD 60,000 level. However, it is facing resistance near the USD 60,800 and USD 61,000 levels. A successful close above the USD 61,000 level could open the doors for a larger increase. The next major resistance could be USD 62,000 or USD 63,200.
On the downside, the USD 59,500 level is a decent support. Any more losses might call for a test of the USD 59,000 level.
Ethereum price is holding gains above the USD 2,100 support zone. It is flirting with the USD 2,150 level. The main breakout resistance is near the USD 2,180 level. A successful break above USD 2,180 and USD 2,200 could push the price even higher in the near term.
If there is a downside correction, the USD 2,100 level might provide support. The next major support is now forming near the USD 2,050 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) outperformed bitcoin and ethereum, as it broke the USD 600 level. BNB gained over 25% and it traded as high as USD 610. It is now correcting gains below USD 600, but dips might remain attractive near USD 550 and USD 540.
Cardano (ADA) is holding gains above the USD 1.300 level. The next major support on the downside is near the USD 1.285 level. On the upside, the price might struggle near USD 1.34 and USD 1.35 levels. Any more gains could possibly call for a test of USD 1.400.
Litecoin (LTC) is consolidating gains near the USD 250 level. An initial support is near the USD 245 and USD 242 levels. Any more losses may lead the price towards the USD 235 support. On the upside, the bulls are facing resistance near USD 260 and USD 265.
XRP price remained well bid above the USD 1.300 level. It is now trading above USD 1.350 and testing USD 1.370. It seems like there are chances of more gains towards USD 1.400 or even higher in the coming sessions.
Other altcoins market today
Several altcoins climbed over 10%, including VGX, BTMX, KCS, XMR, CAKE, HOT, HT, UNI, FTT, STX, and ICX. Out of these, VGX rallied above USD 5.40 and BTMX gained 15%.
To sum up, bitcoin price is showing positive signs above the USD 59,200 and USD 59,500 levels. It seems like it is a matter of time before BTC breaks the USD 61,000 level.
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