Bitcoin and Altcoins Attempting to End The Week Higher
- Bitcoin price is attempting a fresh increase above the USD 9,850 resistance.
- Ethereum could surge if it clears USD 250 and XRP seems to be stuck between USD 0.200 and USD 0.208.
- WAXP rallied more than 50% and DIVI is up close to 35% today.
After a close above the USD 9,550 resistance, bitcoin price made an attempt to clear the USD 9,850 resistance. However, BTC struggled to continue higher and it is currently (08:30 UTC) trading in a range above the USD 9,550 and USD 9,650 support levels.
Similarly, most major altcoins are currently consolidating in a range, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is trading above the USD 240 support, but it is facing many hurdles near USD 245 and USD 250. XRP/USD is also stuck below the USD 0.208 and USD 0.210 resistance levels.
Total market capitalization
In the past two sessions, bitcoin price mostly traded in a range above the USD 9,550 support zone. On the upside, the first major resistance is near the USD 9,850 level. If there are more gains, the price is likely to clear the USD 9,950 and USD 10,000 resistance levels.
On the other hand, the price might start a fresh decline below the USD 9,650 support. The main support is now near the USD 9,550 level, below which the price might dive towards the USD 9,300 support in the near term.
Ethereum price is trading in a range between the USD 240 support and the USD 245 resistance. If ETH surpasses the USD 245 resistance, it could increase the chances of more upsides above the USD 250 and USD 252 levels.
Conversely, the price could break the USD 240 support and start a fresh decline. An initial support is near the USD 235 level, but the bears are likely to aim for a larger decline towards the USD 230 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is trading above the USD 250 and USD 255 levels. At the moment, BCH is trading near the USD 260 level and facing a short-term resistance near the USD 262 level. The main resistance is near the USD 265 level, above which it could continue to rise towards the USD 270 and USD 278 levels.
Litecoin is facing an uphill task near the USD 48.50 and USD 50.00 resistance levels. A successful daily close above the USD 50.00 level is needed for the bulls to gain strength. If the price fails to rise above USD 48.50, there could be a steady decline towards the USD 42.20 support zone.
XRP price made an attempt to clear the USD 0.208 resistance, but it failed. The price is currently trading near the USD 0.205 level and it must climb above the USD 0.208 and USD 0.210 levels to move into a positive zone. If not, it could decline below the key USD 0.200 support.
Other altcoins market today
In the past three sessions, many small altcoins jumped more than 5%, including WAXP, DIVI, REN, QNT, KMD, HIVE, HT, SNX, LSK, SOLVE, and BTT. Out of these, WAXP rallied nearly 55% and broke the USD 0.0700 resistance zone to move into the top 75 cryptoassets by the market capitalization.
Overall, bitcoin price is showing positive signs above the USD 9,550 support. However, BTC must gain bullish momentum above the USD 9,850 level to end the week higher. If not, there could be another sharp decline below the USD 9,550 support.