Bitcoin and Altcoins Target Additional Upsides
The past few sessions were very bullish as bitcoin price traded above the USD 3,500 and USD 3,600 resistance levels. It opened the doors for more gains and BTC/USD even broke the USD 3,700 resistance. Currently, the price is consolidating gains near USD 3,700 and it seems like it could dip a few points before the next move higher. More importantly, ethereum price rallied above the USD 100 resistance, which is a strong bullish sign. Similarly, ripple price gained pace above the USD 0.355 resistance and traded above the USD 0.362 resistance.
Many altcoins gained traction in the past few hours, and the market sentiment was boosted for a few Ethereum tokens after Coinbase Pro announced that they will launch Dai (DAI), Golem (GNT), Maker (MKR), and Zilliqa (ZIL) in select jurisdictions. MKR gained around 17%, and both GNT and ZIL are up around 10%. It helped both tokens and ETH plus the market sentiment improved in favor of buyers.
Total market capitalization
There were further gains above the USD 3,550, USD 3,580 and USD 3,600 resistance levels in bitcoin price . BTC/USD even rallied above the USD 3,700 resistance and traded close to USD 3,750. The price is currently up around 6%, with an immediate resistance at USD 3,750, above which the price may even break the USD 3,820 resistance.
On the downside, an initial support is near USD 3,660, below which the previous resistance near USD 3,600 may perhaps act as a strong support.
Ethereum price surged above the USD 100 resistance, clearing the path for buyers to take control. ETH/USD traded close to the USD 105 resistance and it up more than 8%.
On the upside, an initial resistance is at USD 105, above which the price may climb towards USD 110 or 112. On the downside, the USD 100 and USD 98 levels are solid supports in the short term.
Bitcoin cash and ripple price
Bitcoin cash price performed really well and rallied more than 25%. BCH/USD climbed above the USD 95 and USD 100 resistance levels to move into a positive zone. It traded close to the USD 120 level and it is currently consolidating gains. BCHSV struggled to gain momentum and it is facing resistance near the USD 85 – USD 86 zone.
Ripple price climbed above the USD 0.350, USD 0.355 and USD 0.362 resistance levels. XRP/USD even traded above USD 0.370 and it is currently consolidating gains near the USD 0.362 support.
Other altcoins market today
During the past few hours, many small cap altcoins climbed more than 15%, including MONA, STRAT, WAVES, DGTX, PPT, LKY, MKR, LINK, NANO and MOTA. Out of these, MONA rallied close to 50% and STRAT is up around 40%.
Overall, bitcoin is trading nicely with a bullish bias above USD 3,600. If BTC/USD extends above the USD 3,750 resistance, it could further boost the market sentiment. Altcoins such as ethereum, ripple, bitcoin cash, litecoin and EOS are also placed in an uptrend and they may continue to rise in the coming sessions.
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