Bitcoin Almost Unchanged, Ethereum, Altcoins Show Mixed Results
Bitcoin price is in an uptrend above USD 55,000 and it could surge above USD 58,000. Ethereum is trading above USD 1,750, XRP is sliding and it could test USD 0.420. CHZ, MATIC, and ENJ rallied over 25%.
Bitcoin price corrected lower from the USD 58,000 resistance. However, BTC is still trading above the USD 56,000 level and is almost unchanged in a day. The current (12:30 PM UTC) price action is positive, suggesting more possible upsides above the USD 57,500 and USD 58,000 levels.
Besides, most major altcoins are trading in a positive zone. ETH corrected below USD 1,800, but it is still above USD 1,750 and USD 1,725. XRP/USD is moving lower and it could test the USD 0.420 support.
Total market capitalization
After a short-term downside correction, bitcoin price climbed back above USD 56,000. BTC is showing positive signs and it could soon surpass the USD 57,200 and USD 57,500 levels. The key resistance is near USD 58,000, above which the price might accelerate higher to a new all-time high towards the USD 59,000 level.
On the downside, the price is stable above USD 56,000. The main breakdown support is near the USD 55,000 level, below which the price could start a steady decline.
Ethereum price failed to stay above the USD 1,800 level. ETH is trading near USD 1,775, with an immediate support near the USD 1,750 level. The main support is near the USD 1,725 level, below which the bulls could lose control.
On the upside, the USD 1,800 level is a short-term resistance. The main resistance is near the USD 1,850 level for a strong increase towards USD 1,900.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) spiked above the USD 300 resistance, but it struggled to stay above USD 300. BNB is correcting gains below USD 285 and it might test the USD 272 support. Any more losses might lead the price towards the USD 265 support. If there is a fresh increase, the bears could be active near USD 300.
Cardano (ADA) is down 5% and it is trading below the USD 1.100 level. ADA is moving lower and it is declining towards the USD 1.050 support. The next key support at USD 1.020, below which the price might decline towards the USD 0.950 support.
Litecoin (LTC) is outperforming and it is trading above the USD 200 and USD 205. If LTC gains pace above USD 212, it could rally towards the USD 220 and USD 225 levels. The next major resistance is near the USD 240 level. On the downside, the price might remain stable above USD 200.
XRP price is moving lower and it is trading below USD 0.450. If the bears remain in action, there could be a drop towards the USD 0.420 level. On the upside, the price might face sellers near the USD 0.465 and USD 0.472 levels.
Other altcoins market today
Many altcoins climbed over 5%, including CHZ, SKL, MATIC, TFUEL, ENJ, ZIL, NEAR, LUNA, MANA, VET, SOL, KSM, and DGB. Out of these, CHZ rallied over 90% and it broke the USD 0.50 level.
To sum up, bitcoin price is trading above USD 56,000. It seems like BTC could start a fresh surge to USD 60,000 as long as it is trading above the USD 55,000 support.