Bitcoin and BNB Climbing While Other Altcoins Trading Sidelines
Recently, there was a minor downside correction, but bitcoin price remained well bid near the USD 10,400 and USD 10,500 levels. BTC/USD started a fresh increase recently and climbed above the USD 10,640 resistance. The price is currently (08:00 UTC) gaining momentum above the USD 10,700 resistance area and it could continue to rise towards USD 11,000 and USD 11,150. However, many major altcoins struggled to recover and traded in a range, including ethereum, ripple, BCH, litecoin, TRX and EOS. ETH/USD is facing resistance near the USD 175 level and XRP/USD is currently flat near USD 0.255. Binance coin price is gaining momentum and it is currently up around 4% to USD 22.50.
Total market capitalization
Recently, bitcoin price bounced back from the USD 10,500 support area. BTC/USD is up around 2% and it is trading above the USD 10,700 level. If the bulls continue to gain momentum, the price may climb above the USD 10,850 and USD 11,000 resistance levels. The next key resistances are near USD 11,150 and USD 11,200.
On the downside, an initial support is near the USD 10,640 level. If there is an extended decline, the price could revisit the main USD 10,500 support level.
Ethereum price extended its decline below USD 172 and tested the USD 170 support area. ETH/USD is currently correcting higher, but the USD 175 level is acting as a resistance. On the upside, there are many hurdles near the USD 178 and USD 180 levels.
If the price fails to climb higher, it could decline again towards the USD 170 support level. Any additional weakness will most likely push the price towards the USD 164 swing low in the near term.
Bitcoin cash, eos and ripple price
Bitcoin cash price is slowly moving higher from the USD 285 support area. However, BCH/USD is still facing a strong resistance near the USD 300 and USD 305 levels. A successful close above USD 305 is needed for upside continuation in the near term towards the USD 320 and USD 325.
EOS is currently consolidating near the USD 3.400 level. If there is an upside break above the USD 3.350 resistance, the price could rise towards the USD 3.500 resistance. On the downside, the main supports are near the USD 3.250 and USD 3.200 levels.
Ripple price remained in a bearish zone below the USD 0.262 and USD 0.265 resistance levels. XRP/USD is currently trading sideways near USD 0.255, with supports near the USD 0.252 and USD 0.250 levels. On the upside, a break above the USD 0.265 resistance is needed for more gains.
Other altcoins market today
In the past three sessions, a few small cap altcoins recovered and gained more than 5%, including XMX, REP, NEXO, CRO, ALGO, RDD and KMD. Out of these, XMX rallied close to 50% and REP is up around 20%.
Overall, bitcoin price is rising steadily and it will most likely break the USD 10,850 and USD 11,000 resistance levels. If BTC/USD fails to continue higher, it could correct back towards the USD 10,200 support in the coming days.
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