Bitcoin and Altcoins Could Gain Bullish Momentum
- Bitcoin price is trading above the USD 3,600 and USD 3,650 support levels.
- Ethereum is likely preparing for an upside acceleration towards USD 150.
- Ripple price must move past the USD 0.375 resistance to gain bullish momentum.
Recently, there was a minor downside move in bitcoin price below the USD 3,700 support. However, buyers appeared near the USD 3,620 - USD 3,650 area and protected more declines. BTC/USD bounced back and traded above the USD 3,680 and USD 3,700 resistance levels. Similarly, ethereum price recovered from the USD 128 - USD 130 support and it seems to be preparing for an upward move towards the USD 150 resistance. On the other hand, ripple price is struggling to gain traction and it must climb above the USD 0.375 resistance to move into a positive zone.
Total market capitalization
There was an upward move above the USD 3,700 support in bitcoin price . BTC/USD traded above the USD 3,750 resistance level and it is currently approaching the USD 3,800 resistance area. A break above the USD 3,800 and USD 3,820 resistance levels could open the doors for more gains towards the USD 3,860 and USD 3,900 levels.
On the downside, an initial support is at USD 3,740, below which the price may perhaps test the USD 3,700 support. If there is a break below the USD 3,700 support, the price may test the USD 3,650 support.
Ethereum price gained pace above the USD 130 resistance and settled above the USD 135 level. ETH/USD must break the USD 140 - USD 142 resistance zone to trade towards the USD 148 and USD 150 resistance levels.
If there is a downside correction, the price may test the USD 135 support, below which the price may test the key USD 130 support.
Bitcoin cash and ripple price
Bitcoin cash price settled above the USD 150 support it is currently attempting to clear the USD 160 - USD 162 resistance area. An immediate resistance is at USD 165, above which the price may test the USD 175 resistance. Bitcoin SV is currently trading above the USD 85 support and it may continue to rise towards the USD 95 support. On the downside, the key supports are at USD 85 and USD 80.
Ripple price declined recently and tested the USD 0.345 support level. On the upside, a break above the USD 0.365 and USD 0.375 resistance levels is needed for more gains towards the USD 0.380 level.
Other altcoins market today
During the past few hours, a few small cap altcoins gained more than 8%, including DEX, BCZERO, STRAT, VERI, OMG and XIN. Out of these, DEX gained more than 30% and BCZERO rallied nearly 20%.
Overall, bitcoin price is placed above the USD 3,700 support and it may continue to move higher in the near term. A proper break and close above USD 3,800 resistance could clear the path for more upsides in BTC/USD. Similarly, ethereum price could accelerate gains if there is a break above the USD 142 - USD 145 resistance area.