Bitcoin and Altcoins Surging, Rally Might Continue
In the past few sessions, there was a strong rise in bitcoin price above the USD 9,200 and USD 9,250 resistance levels. BTC/USD even traded above USD 9,400 before it faced sellers. The price is currently (09:00 UTC) consolidating and it remains well supported for more gains above USD 9,400.
Similarly, there was a decent increase in most major altcoins, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD broke the USD 175 resistance and tested the USD 180 hurdle. Moreover, XRP/USD surpassed the USD 0.235 resistance
and settled above the USD 0.240 level.
Total market capitalization
Recently, bitcoin price surpassed a few key hurdles such as USD 8,850 and USD 9,000. It opened the doors for more upsides and the price climbed above the USD 9,250 resistance. It even spiked above USD 9,400 before starting a consolidation. On the downside, the first support zone is near the USD 9,250 level. The main support is now near the USD 9,020 level.
On the upside, the USD 9,450 and USD 9,500 levels are likely to protect gains. A clear break above USD 9,500 is likely to set the stage for a larger rally towards the USD 10,000 level.
Ethereum price remained well bid above USD 170 and it recently broke the USD 175 resistance level. However, ETH/USD is still struggling to surpass the USD 178 and USD 180 resistance levels. A clear break above USD 180 is needed for a push towards USD 188 and USD 195.
On the downside, the recent resistance near USD 175 is likely to act as a strong support. If there is a downside break below the USD 175 support, the price might revisit the USD 170 area.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is up 8% today and it cleared the key USD 375 and USD 380 resistance levels. BCH/USD is now trading above USD 390 and it seems like the price is likely to target a break above the USD 400 barrier. On the downside, the previous resistance near USD 375 is likely to act as strong support.
Litecoin settled above the USD 60.00 level and it is currently consolidating gains. LTC/USD seems to be facing hurdles near the USD 61.50 level, above which the bulls are likely to aim a test of the USD 64.50 and USD 65.00 levels. On the downside, the USD 60.00 and USD 58.50 are decent supports.
XRP price increased steadily after it settled above the USD 0.232 resistance. The bulls were able to lead the price above the USD 0.235 and USD 0.240 resistance levels. The next target could be USD 0.245 and USD 0.248. The key supports are near USD 0.238 and USD 0.235.
Other altcoins market today
In the past three sessions, many small-capitalization altcoins gained more than 10%, including BST, KICK, ETC, BCN, RLC, QNT, MIOTA, TRX, ZEC, NEXO, and ADA.
Overall, bitcoin price is rising steadily above USD 9,000 and USD 9,200. BTC/USD might even surpass the USD 9,500 resistance area in the near term, but the bulls need to be careful as the price approaches the key USD 10,000 area.
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