Bitcoin Aims Higher While Ethereum and Altcoins Rise
- Bitcoin price is eyeing an upside break above USD 20,500.
- Ethereum could rise further above USD 1,700, XRP could soon test USD 0.35.
- SOL, NEAR, and EOS are up over 6%.
Bitcoin price is still trading below the key USD 20,500 resistance zone. BTC is currently (11:20 UTC) consolidating near the USD 20,000 pivot zone. To start a fresh increase, the price must surpass USD 20,200 and USD 20,500.
Besides, most major altcoins are slowly moving higher. ETH settled above USD 1,650 and might rise further above USD 1,700. XRP is eyeing more gains above the USD 0.35 resistance. ADA is showing positive signs above the USD 0.50 resistance.
In the past few sessions, bitcoin price traded in a range above the USD 19,500 resistance. Recently, BTC struggled to gain bullish momentum above the USD 20,000 resistance. The first key resistance is near the USD 20,200 zone. The main hurdle is still near the USD 20,500 level, above which the price could start a strong upward move.
If there is no upside break above the USD 20,500 level, the price might react the downside. On the downside, an initial support is near the USD 19,650 level. The next major support is still near the USD 19,500 zone, below which the price might decline heavily.
Ethereum price outperformed bitcoin with a strong move above the USD 1,620 resistance. The price even cleared the USD 1,650 level. It is now showing positive signs and might test the USD 1,700 level. The next major resistance is near USD 1,720, above which the price may perhaps rise towards USD 1,800.
On the downside, an initial support is now near the USD 1,620 level. The next major support is USD 1,600, below which there is a risk of a sharp downside correction.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) accelerated higher above the USD 0.48 resistance. The price gained pace for a move above the USD 0.50 resistance. If the bulls remain in action, it could soon test USD 0.52.
BNB is eyeing an upside break above the USD 282 zone. The next major resistance is near USD 288, above which the price could rise towards USD 300.
Solana (SOL) is up over 6% and trading above the USD 33.00 zone. An immediate resistance is near the USD 33.50 level, above which the price might even clear USD 35.
DOGE is trading in a range above the USD 0.062 level. The first major resistance is near the USD 0.0650 level, above which it could rise towards USD 0.0680.
XRP price is slowly moving higher above the USD 0.335 resistance zone. The next resistance is near USD 0.35. A close above USD 0.35 might pump the price towards the USD 0.40 level.
Other altcoins market today
Many altcoins are rising steadily, including DOT, MATIC, SHIB, AVAX, ETC, UNI, NEAR, BCH, EOS, AAVE, EOS, and GRT. Out of these, ETC is still showing bullish signs above the USD 40 level.
To sum up, bitcoin price is showing signs of an upside break above the USD 20,200 and USD 20,500 levels. If the bulls succeed, BTC could start a decent upward move.
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