Bitcoin and Altcoins Poised for Further Appreciation
This week, bitcoin price started a strong recovery above the USD 10,200 and USD 10,500 resistance levels. BTC/USD even climbed above the USD 10,650 resistance. It opened the doors for more upsides and the price recently climbed above USD 10,800. Similarly, there were positive moves in a few major altcoins, including ethereum, ripple, XMR, BNB, and bitcoin cash. ETH/USD is currently (07:00 UTC) trading with a positive bias and it could climb further above USD 205. Conversely, XRP/USD is facing a strong resistance near the USD 0.290 and USD 0.292 levels.
Total market capitalization
After a close above USD 10,500, bitcoin price extended gains above the USD 10,650 and USD 10,800 resistance levels. BTC/USD traded close to the USD 11,000 resistance and recently corrected lower. It is trading above the USD 10,720 level, with many supports near the USD 10,650, USD 10,600 and USD 10,520 levels.
On the upside, an initial resistance is near the USD 10,900 and USD 11,000 levels. However, the main resistance is near the USD 11,000 level, above which the price could accelerate towards the USD 11,200 and USD 11,300 levels.
Ethereum price remained elevated above the USD 190 and USD 195 support levels. However, ETH/USD seems to be facing a strong resistance near the USD 203 and USD 205 levels. Therefore, a successful close above USD 205 might start another rise in the coming sessions.
The next key resistance is near the USD 220 level. On the other hand, if the price fails to climb above USD 205, it could correct gains. An immediate support is near the USD 195 level, below which it could test the USD 190 support.
Bitcoin cash, eos and ripple price
Bitcoin cash price is slowly rising and it recently traded above the USD 315 and USD 320 levels. On the upside, BCH/USD is likely to struggle near the USD 326 level. If the bulls gain strength above USD 326, the price could accelerate towards the USD 340 resistance in the near term.
EOS recovered above the USD 3.650 level, but it failed to clear the USD 3.800 resistance. The price is currently consolidating above USD 3.650 and it could make another attempt to surpass the USD 3.800 and USD 3.850 resistance levels. On the downside, the main supports are USD 3.650 and USD 3.620.
Ripple price failed to climb above the USD 0.292 resistance and recently declined below the USD 0.285 support level. XRP/USD is down around 2.5% and it might decline further towards the USD 0.272 and USD 0.270 support levels. On the upside, an immediate resistance is at USD 0.285, followed by USD 0.292.
Other altcoins market today
In the past two sessions, a few small cap altcoins climbed more than 5%, including DGTX, AOA, NRG, THETA, ELF, REP and RIF. On the other hand, EGT, HC and GXC are down 25%, 13% and 9% respectively.
Overall, bitcoin price is gaining bullish momentum and is trading above USD 10,650. Having said that, the bulls are likely to face a strong resistance on the upside near the USD 11,000 and USD 11,200 levels.
Find the best price to buy/sell cryptocurrency: