Bitcoin and Altcoins Closing In Towards Next Move
Bitcoin price is still stuck in a range between USD 9,100 and USD 9,300. Ethereum and XRP must surpass USD 245 and USD 0.202 respectively for a fresh increase. AMPL and KAVA rallied over 20% today.
Bitcoin price remained stable above the USD 9,100 and USD 9,050 support levels. However, BTC is facing a strong resistance near the USD 9,300 and USD 9,320 levels. The price is currently (08:30 UTC) recovering towards USD 9,300, above which it might start a strong upward move.
Similarly, most major altcoins are trading near make-or-break levels, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, and TRX. ADA and XLM gained heavily this month and they might continue higher. ETH/USD is approaching the USD 240 level and it is struggling to clear USD 245. XRP/USD is trading below the main USD 0.200 and USD 0.202 resistance levels.
Total market capitalization
Recently, bitcoin price declined below the USD 9,200 support. BTC spiked below USD 9,150, but it remained stable above USD 9,100. It is currently recovering and trading above USD 9,210. On the upside, an initial resistance is near the USD 9,270 level. The main resistance is still near the USD 9,300 and USD 9,320 levels.
If there is no upside break above USD 9,300 for a long time, there is a risk of a significant decline below USD 9,050 in the coming sessions.
Ethereum price is trading near the USD 240 level and it is struggling to clear the USD 242 and USD 245 resistance levels. A successful daily close above the USD 245 level may perhaps start a strong increase towards USD 250 and USD 262.
On the downside, the USD 235 level is a crucial support. If the bulls fail to keep the price above USD 235, the bears might target a test of USD 222 or USD 220.
Bitcoin cash, ADA and XRP price
Bitcoin cash price settled below the USD 230 support level. BCH is trading above USD 225, but it might now struggle to climb above USD 230 and USD 232. If it succeeds there could be a steady rise towards the USD 240 resistance. The main support on the downside is seen near USD 220.
ADA is again rising and it is currently up more than 4%. The price is trading above USD 0.135 and it seems like the bulls are aiming a test of the USD 0.140 resistance. Any further gains could lift the price towards the USD 0.148 and USD 0.150 levels. On the downside, there is strong support forming near USD 0.130 and USD 0.132.
XRP price tested the USD 0.195 support level and it is trading in a range. The first key resistance is near the USD 0.200 level. The main pivot level is near the USD 0.202 level, above which the bulls might take the driver’s seat. Conversely, a clear break below USD 0.195 might call for a drop to USD 0.192 or even USD 0.190.
Other altcoins market today
In the past three sessions, a few small-capitalization altcoins gained over 10%, including AMPL, KAVA, WAVES, SNX, ONT, CHSB, LINK, QTUM, and DIVI. Conversely, FXC declined roughly 20% and NEXO is down 10%.
Overall, bitcoin price is stuck in a broad range and it seems to be preparing for the next significant move. If BTC settles above USD 9,300, it could start a strong increase. If not, there might be a sharp decline below USD 9,000.