Bitcoin and Altcoins Bulls Remain In the Driver's Seat
- Bitcoin price is gaining bullish momentum and it recently tested the USD 8,850 resistance.
- Ethereum jumped 15% and tested the USD 170 zone, and XRP is now above USD 0.232.
- BTG, BSV, DASH and BCD are up more than 50% today.
Bitcoin price remained in a bullish zone and extended its upward move above the USD 8,550 and USD 8,700 resistance levels. BTC/USD traded towards the USD 9,000 level and formed a swing high near USD 8,850. It corrected lower recently, but the bulls remain in action and the price could rise above USD 8,900.
Also, there were strong gains in major altcoins, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX, BSV, DASH and XLM. ETH/USD is up around 15% and it tested the USD 170 resistance area. XRP/USD is also climbing and the bulls were able to clear the USD 0.225 and USD 0.232 resistance levels.
Total market capitalization
In the past few sessions, bitcoin price gained pace above the USD 8,550 resistance level. The upward move was such that BTC/USD even climbed above USD 8,800. However, the bulls failed to test the USD 9,000 level. As a result, there was a downside correction, but the USD 8,550 and USD 8,600 levels acted as a support.
The price is rising (10:00 UTC) and it seems like there could be more gains in the coming sessions above USD 8,800 and USD 9,000 in the near term. The next major hurdle is near the USD 9,250 level.
Ethereum price performed well and gained pace above the USD 150 and USD 160 resistance levels. ETH/USD tagged the USD 170 level before correcting lower. However, the USD 162 level provided support and the price is rising again.
To continue higher, the price has to gain momentum above the USD 170 and USD 172 levels. The next target for the bulls may perhaps be USD 185 in the near term.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is rallying and it climbed above the USD 300 and USD 320 resistance levels. BCH/USD tested the USD 370 zone and it is currently correcting gains. However, dips are likely to remain supported near USD 340 and USD 320. On the upside, a clear break above USD 370 might call for a test of USD 400.
Litecoin is up around 10% and it managed to clear the USD 55.00 and USD 57.50 resistance levels. Now, LTC/USD must surpass the USD 60.00 resistance to start another increase. The next targets could be USD 62.00 and USD 64.00. On the downside, the main support is near USD 55.00.
XRP price is also gaining traction and it climbed above the USD 0.225 and USD 0.232 resistance levels. XRP/USD is likely to continue higher if it clears the USD 0.240 and USD 0.242 resistance levels. The next target could be USD 0.250.
Other altcoins market today
In the past three sessions, many small capitalization altcoins rallied more than 15%, including BTG, BSV, DASH, BCD, ETC, HC, XZC, ZEC, AE, BCH, MONA, BAT and ONT. Out of these, BTG, BSV, and BCH are performing well with strong gains.
Overall, bitcoin is showing a lot of positive signs above USD 8,550 and USD 8,600. Therefore, there are chances of more gains above the USD 8,850 and USD 9,000 resistance levels in the near term.