Bitcoin and Altcoins Look Primed for Further Gains
Bitcoin price gained a strong bullish momentum and tested the USD 8,000 resistance. Ethereum jumped to USD 145 before correcting lower, while XRP jumped more than 10%. CENNZ, DGD, REN and BTS are up more than 10% today.
Bitcoin price extended its gains above the USD 7,550 and USD 7,650 resistance levels, opening the doors for more upsides. Finally, BTC/USD surged above USD 7,850 and tested the key USD 8,000 resistance area. The price is currently (09:00 UTC) consolidating gains and dips are likely to remain supported near USD 7,650 in the near term.
Similarly, there were decent gains in most major altcoins, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD jumped nearly 5% to test the USD 145 resistance and it is currently correcting lower. Also, XRP/USD jumped more than 12% and broke many hurdles near USD 0.200, USD 0.210 and USD 0.215.
Total market capitalization
After a successful close above USD 7,550, bitcoin price gained bullish momentum above the USD 7,650 and USD 7,700 resistance levels. As a result, BTC/USD surged above USD 7,850 before it tested the USD 8,000 resistance area. The price is currently consolidating gains, with corrective moves below USD 7,900.
On the downside, there are many supports, starting with USD 7,850. The main supports are near USD 7,700 and USD 7,650, below which the price could extend its decline. On the upside, the USD 8,000 level is a clear hurdle, above which bitcoin might test USD 8,200.
Ethereum price remained in a bullish zone above the USD 135 resistance. ETH/USD gained nearly 5% and traded above the USD 142 resistance. Finally, it tested the USD 145 resistance before starting a downside correction.
At the moment, the price is trading above the USD 142 support, below which it could test the USD 140 level. On the upside, there are hurdles near the USD 145 and USD 146 levels. A clear break above USD 146 may perhaps lead the price towards USD 152.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price rallied further above the USD 230 and USD 235 resistance levels. BCH/USD is now trading above USD 240 and it might soon make an attempt to climb above the main USD 250 resistance area. On the downside, supports are USD 235 and USD 230.
Litecoin popped above the USD 45.00 resistance level to move into a positive zone. LTC/USD is currently correcting gains, but it is likely to find support near the USD 44.20 and USD 43.50 levels. On the upside, the next hurdle for the bulls is near the USD 46.50 level.
XRP price outperformed most major altcoins and bitcoin to climb more than 12%. XRP/USD broke the key USD 0.200 resistance and rallied above USD 0.212 and USD 0.220. However, it faced sellers near USD 0.225 and it is currently correcting gains.
Other altcoins market today
In the past three sessions, many small capitalization altcoins gained more than 5%, including CENNZ, DGD, REN, BTS, HC, OKB, ADA, BTG, CRO, LINK, OMG and SNT. Out of these, CENNZ is up around 24% and DGD rallied close to 11%.
Overall, bitcoin price is showing a lot of positive signs above the USD 7,650 and USD 7,800 levels. As long as it stays above USD 7,650, there are high chances of more upsides above the USD 8,000 and USD 8,050 resistance levels.