Bitcoin and Altcoins Hesitate Ahead of the Weekend
- Bitcoin price spiked above the USD 3,900 resistance and it is currently consolidating.
- Ethereum and ripple are still struggling below the USD 140 and USD 0.315 resistances respectively.
- ENJ, AOA and CRO rallied more than 40% today.
In the past few hours, the market sentiment improved for a few small cap altcoins, which helped bitcoin in moving higher. BTC stayed above the USD 3,850 support and it recently climbed above the USD 3,900 and USD 3,920 levels. However, the price failed to extend gains and it is currently (UTC 08:10 AM) consolidating near USD 3,900. On the other hand, ethereum continues to face a strong resistance near the USD 140 resistance. ETH/USD is currently trading above USD 135, with a flat structure. Ripple price is down around 1% and it seems be heading towards the USD 0.312 support level.
Total market capitalization
There was a strong support formed above the USD 3,850 level and bitcoin price attempted to clear the USD 3,900 resistance. There was a spike above the USD 3,920 before BTC faced sellers near USD 3,930. The price retreated to USD 3,900 and it is currently consolidating gains.
An initial support is near the USD 3,860, followed by USD 3,850. The main support is at USD 3,800, where sellers may struggle. On the upside, the price must gain bullish momentum above USD 3,900 and 3,920 to establish a solid bullish wave. The next resistance is at USD 4,000 and USD 4,040.
Ethereum price continued to struggle near the USD 140 resistance and it recently declined below the USD 138 level. On the downside, there is a strong support formed near the USD 135 level.
Therefore, the price may trade in a range above the USD 135 support before it either climbs above the USD 140 resistance or extend losses below the USD 135 support in the near term.
Bitcoin cash, eos and ripple price
Bitcoin cash price extended losses below the USD 132 and USD 130 support levels. BCH/USD is down around 2% and it seems like it could continue to move down towards the USD 126 or USD 125 support zone.
EOS started a downside correction below the USD 3.85 and USD 3.50 support levels. The price is currently trading near the USD 3.75 level and it seems like sellers could aim the USD 3.65 support level in the coming sessions.
Ripple price declined recently below the USD 0.315 and USD 0.314 support levels. XRP/USD is currently trading near USD 0.313, but it may test the USD 0.312 support level before it could rebound above USD 0.315.
Other altcoins market today
In the past few hours, many small cap altcoins rallied and posted heavy gains, including ENJ, AOA, CRO, DGTX, REPO, PAI, RVN, LINK and MANA. Out of these, ENJ rallied more than 70% and AOA is up close to 55%.
Overall, there are many positive signs on bitcoin charts, suggesting more gains above the USD 3,900 and USD 3,920 levels. BTC buyers are likely to remain in action and they could aim USD 4,000 or even USD 4,150 before the end of the week.