Bitcoin and Ethereum Moving Lower Within Range
Bitcoin price failed to climb higher above the USD 6,600 resistance level. As a result, BTC/USD started moving lower towards the USD 6,500 support. Similarly, ethereum price struggled to gain momentum above the USD 210 level and it is currently declining towards the USD 205 and USD200 support levels. On the other hand, ripple price remained elevated and it is currently holding gains above the USD 0.465 level. The current market sentiment (UTC 08:30 AM) is neutral, but there could be a few bearish moves before buyers take control.
Total market capitalization
There was yet another failure to clear the USD 6,600 and USD 6,650 resistances by bitcoin price . BTC/USD declined a few points, but it managed to stay above the USD 6,500 support. If there is a downside break, the price could test the next key support at USD 6,400.
On the other hand, the price must clear the USD 6,600 and USD 6,650 resistance levels to move into a bullish zone. In the mentioned case, the price is likely to accelerate gains above the USD 6,700 hurdle. The next major resistance above USD 6,700 is near USD 6,800.
Ethereum price followed bitcoin and declined after it failed to stay above the USD 210 support. ETH/USD may perhaps continue to move down towards the USD 205 support.
If sellers push the price below the USD 205 support, the USD 200 will most likely hold losses. On the upside, the USD 215 resistance remains a significant hurdle for buyers.
Bitcoin cash and ripple price
Bitcoin cash price remained in a bearish zone and declined below the USD 450 support. It seems like BCH/USD may continue to move down and it may test the USD 440 support. Below this, the price may even test USD 425. On the upside, the main resistance for buyers are at USD 460 and USD 475.
Ripple price is holding gains above the USD 0.465. If XRP/USD corrects lower, it could test the USD 0.455 or USD 0.450 support level in the near term. To the topside, the USD 0.475 and USD 0.482 levels are important resistances.
Other altcoins market today
A few altcoins gained traction during the past two sessions, including RVN, OCN, PIVX, MCO, AOA, LINK, POLY and GNT. Out of these, RVN rallied around 25% and OCN moved up roughly 18%.
Overall, bitcoin price is showing a few bearish signs, but as long as it is above USD 6,400 and USD 6,500, it remains supported. However, BTC/USD must break the USD 6,600 and USD 6,650 resistance levels to avoid a major downside reaction in the coming sessions.
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