Altcoins and Bitcoin Potentially Accelerating Higher
Bitcoin price remained above USD 4,000 and extended gains above USD 4,040. Ethereum could break USD 140 and ripple price is moving towards USD 0.310. KCS and BTC gained more than 10% today.
In the past few sessions, there were mostly bullish moves in bitcoin price above the USD 4,000. BTC/USD traded above the USD 4,025 and USD 4,040 resistance levels. A fresh weekly high was formed, but the price failed to surpass the USD 4,060 – USD 4,070 resistance area. The current (UTC 08:00 AM) price action is positive and it seems like bulls could aim a break above the USD 4,060 – USD 4,070 resistance area. Similarly, ethereum is moving higher and it may attempt to clear the USD 140 resistance. Besides, ripple price is gaining bullish momentum above USD 0.307 and it may soon test the USD 0.310 or 0.312 resistance levels.
Total market capitalization
After a minor downside correction, bitcoin price found support near the USD 4,000 level. BCT/USD climbed higher once again and broke the USD 4,025 and USD 4,040 resistance levels. It even traded to a new weekly high above USD 4,050, but sellers protected the USD 4,060 – USD 4,070 resistance area.
The price is currently consolidating gains and if there is a downside correction, the USD 4,025 and USD 4,000 levels are likely to act as supports. On the upside, a convincing break above the USD 4,060 – USD 4,070 resistance area may perhaps clear the path for more upsides towards USD 4,100 and USD 4,150.
Ethereum price corrected lower and tested the key USD 136 support area. ETH/USD bounced back above the USD 138 resistance and it is currently moving higher.
The price may perhaps test the USD 140 resistance in the near term. If buyers remain in control and clear the USD 140 resistance, ether buyers could aim the USD 145 and USD 148 resistance levels.
Bitcoin cash, eos and ripple price
Bitcoin cash price resumed its upward move and traded above the USD 168 resistance. BCH/USD is currently up more than 1% and it seems like the price might accelerate above the USD 170 and USD 172 resistance levels in the near term. On the downside, the main support for buyers is near USD 165.
EOS corrected a few points after a strong rally towards the USD 4.35 level. The price is currently trading near the USD 4.20 level, with the next key support near the USD 4.15 level. On the upside, there are hurdles near USD 4.30 and USD 4.35.
Ripple price found support near the USD 0.305 level and later started a fresh upward move. XRP/USD traded above the USD 0.306 and USD 0.307 levels, with a bullish bias. On the upside, there is a strong resistance waiting near USD 0.310.
Other altcoins market today
In the past two sessions, a few small cap altcoins climbed higher between 5%-12%, including KCS, BAT, AOA, XTZ, MXM, IOST, XEM and ELA. Out of these, KCS is up more than 12% and BAT is up close to 11%.
Overall, bitcoin price is trading in a bullish zone above the USD 4,000 support level. If BTC/USD surpassed the USD 4,070 swing high, there could be solid gains in the coming sessions. In the mentioned case, altcoins such as ETH, XRP, BCH, WAN, ICX, EOS, ADA and TRX might also gain traction.