Bitcoin and Altcoins Soar Past Crucial Hurdles
Bitcoin price started a steady increase yesterday above the USD 9,300 resistance. BTC extended its rally above the USD 9,400 and USD 9,500 resistance levels. BTC even spiked above USD 9,500 and it is currently (08:30 UTC) consolidating gains near USD 9,500.
Most major altcoins also gained bullish momentum above key hurdles, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, XLM, and ADA. ETH/USD turned green and rallied over 8% to surpass the USD 262 resistance. XRP/USD is also showing positive signs and it recently surpassed the USD 0.200 and USD 0.202 resistance levels.
Total market capitalization
After yesterday’s increase above USD 9,300, bitcoin price started a minor downside correction. However, BTC remained stable above USD 9,300 and recently started a fresh increase. It surpassed the USD 9,400 and USD 9,500 resistance levels to move further into a positive zone. The price traded a few points above USD 9,550 and it is currently consolidating near the USD 9,500 level.
If there is a downside correction, the USD 9,400 support zone could provide support. On the upside, the price might accelerate towards USD 9,800 if it settles above USD 9,550.
Ethereum price broke the USD 250 and USD 260 resistance levels. ETH is up over 8% and it even tested the USD 270 level. The price is currently correcting lower, but it might find support near USD 260 or USD 254.
On the upside, a close above the USD 270 level could open the doors for another rally. The next target for the bulls may be USD 280 or USD 285.
Bitcoin cash, ADA and XRP price
Bitcoin cash price gained around 4% and it cleared the USD 230 resistance. BCH is now trading above USD 235 and it seems like it might soon attempt to clear the USD 240 resistance zone. Any further gains could lead the price towards the USD 250 level. On the downside, the main supports are near USD 232 and USD 230.
ADA formed a decent support near USD 0.120 and recently climbed higher. It broke the USD 0.122 and USD 0.124 levels. A successful close above the USD 0.125 is needed for more gains. The next crucial resistance on the upside is seen near the USD 0.130 level.
XRP price finally managed to clear the USD 0.200 resistance zone after ETH’s rally. The price even cleared the USD 0.202 resistance and tested USD 0.205. The price is currently consolidating gains and it seems like the bulls might aim more upsides above USD 0.205. Conversely, a close below USD 0.200 might negate the current bullish view.
Other altcoins market today
In the past three sessions, many altcoins gained over 5%, including DGB, RSR, LINK, BAND, LUNA, MKR, ABBC, ZIL, MIOTA, XVG, QNT, and THETA. Conversely, AMPL dived 28% and RLC is gaining bearish momentum.
Overall, bitcoin price is trading in a positive zone above the USD 9,400 level. BTC could continue to rise above USD 9,550 and USD 9,650 unless there is a proper bearish break below the USD 9,400 support level. On the upside, the bulls might target USD 9,800 or even USD 9,880.
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