Bitcoin Stops Above USD 3.900, Altcoins Extend Rally
Yesterday, we saw the start of a solid upward move above the USD 3,650 resistance in bitcoin price. BTC/USD gained momentum and extended its bullish move above the USD 3,750 and USD 3,900 resistance levels. The price traded close to the USD 3,980 – USD 4,000 zone and later corrected gains. Similarly, there were heavy gains in ethereum, bitcoin cash, EOS, ripple and other altcoins. ETH gained pace above the USD 140 resistance and tested the USD 150 resistance recently. The overall price action (UTC 08:20 AM) is bullish and suggests more possible gains in bitcoin and altcoins in the coming sessions.
Total market capitalization
There was a strong upward move in bitcoin price above the USD 3,800 resistance. BTC/USD almost tested the USD 4,000 resistance and formed a high near USD 3,980. Later, there was a downside correction and the price tested the USD 3,900 support.
On the downside, there are many supports near the USD 3,900 and USD 3,860 levels. To the topside, the main resistance is near the USD 4,000 level. However, the current price action and technical indicators suggest that the price might break the USD 4,000 resistance and climb further higher in the near term.
Ethereum price remained in a strong uptrend above the USD 135 level. ETH/USD broke the USD 140 and USD 145 resistance levels to test the USD 150 resistance area, where sellers emerged.
The price is currently up around 7.5% and it seems like it could continue to move higher towards USD 152 and USD 158. On the downside, there are many supports near the USD 145 and USD 142 levels.
Bitcoin cash, eos and ripple price
Bitcoin cash price followed ethereum and gained pace above the USD 130 resistance. BCH/USD is up more than 15% and it recently broke the USD 140 and USD 145 resistance levels. The next target for buyers could be near the USD 155 level.
EOS rallied significantly after it broke the USD 2.80 resistance level. The price gained pace and broke the USD 3.25 and USD 3.50 resistance levels, with gains more than 22%.
Ripple price made an upward move and broke the USD 0.315 and USD 0.320 resistance levels. XRP/USD cleared the USD 0.325 resistance and it may rise above the USD 0.332 resistance. The next hurdle for buyers is near the USD 0.338 level.
Other altcoins market today
In the past few hours, many altcoins rallied and gained sharply, including XIN, IOST, ETC, ZIL, ADA, ONT, HT, MIOTA, DASH, BTS and HOT. Out of these, XIN gained more than 18% and IOST is up around 16%.
Overall, the crypto market seems to be gaining pace and bitcoin might soon break the USD 4,000 resistance. If BTC/USD fails to surpass USD 4,000, the price could test USD 3,860 or USD 3,820. Besides, EOS, ethereum, litecoin, ripple and bitcoin cash are likely to extend gains if bitcoin remains supported.
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