Bitcoin and Altcoins Gaining Bullish Momentum
Bitcoin price is rising steadily above the key USD 9,000 pivot level. Ethereum is up close to 4% and XRP tested the USD 0.242 resistance area. HBAR, ABBC, WAVES, and WICC are up more than 15% today.
After forming a support base above the USD 8,850 level, bitcoin price climbed above the USD 9,000 pivot level. BTC/USD even surpassed the USD 9,100 level and it might continue to rise steadily towards USD 9,280 and USD 9,450 in the near term.
Similarly, most major altcoins are gaining bullish momentum, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is up close to 4% and it is now (09:00 UTC) testing the USD 235 resistance area. XRP/USD remained in a positive zone and it tested the USD 0.242 resistance area.
Total market capitalization
In the past two sessions, bitcoin price followed a bullish path above the USD 9,000 resistance level. BTC/USD is showing positive signs above USD 9,050 and it may soon rise above USD 9,120 and USD 9,180. The first major resistance is near the USD 9,240 level, above which the bulls are likely to aim a test of the USD 9,350 resistance area.
Conversely, if there is a downside correction, the previous resistance near USD 9,000 may perhaps provide support. The main support is now near USD 8,850, below which the price might slide towards USD 8,650.
Ethereum price gained bullish momentum and surpassed the USD 230 and USD 232 resistance levels. ETH/USD is now trading near the USD 235 resistance level and any further gains could lead the pair towards the USD 250 level in the coming sessions.
If the price fails to continue higher, it could correct lower and revisit the USD 230 support area. The main support is now near the USD 225 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is climbing steadily above the USD 330 level. BCH/USD is up around 4% and it is now trading above the USD 340 level. An immediate resistance is near the USD 350 level, above which there are chances of a strong rise towards the USD 380 level. A short term pullback might find bids near USD 330 and USD 325.
Litecoin regained strength and climbed above the USD 62.50 resistance level. It seems like LTC/USD could continue to rise and the next stop for the bulls might be USD 64.50 or USD 65.00. On the downside, the bulls are likely to remain active near the USD 61.20 and USD 60.00 levels.
XRP price maintained a bullish bias and traded above the USD 0.238 resistance level. The price tested the USD 0.242 level and it is might continue to grind higher. The next major resistance is near USD 0.245, above which the bulls are likely to aim a test of the USD 0.255 level.
Other altcoins market today
In the past three sessions, many small-capitalization altcoins gained more than 5%, including HBAR, ABBC, WAVES, WICC, LRC, ICX, HC, WAXP, KNC, REN, LSK, DX and BTG. Out of these, HBAR rallied more than 30% and ABBC is up around 22%.
To sum up, bitcoin price is showing positive signs above the USD 9,000 level. Therefore, BTC/USD is likely to rise further above USD 9,240 unless there is a sharp decline below the USD 9,000 and USD 8,850 support levels.