Bitcoin and Altcoins Remain In Strong Uptrend
- Bitcoin price is trading with a positive bias above USD 9,250 and USD 9,050.
- Ethereum is climbing steadily towards USD 190 and XRP is consolidating below USD 0.300.
- Bitcoin cash (BCH) and REP gained close to 10% today.
Recently, there was a downside correction in bitcoin price below the USD 9,500 support area. However, BTC/USD remained well supported above the USD 9,000 and USD 9,050 support levels. The price is currently (09:00 UTC) moving higher, but facing a few key hurdles near the USD 9,580 and USD 9,650 levels.
On the other hand, most major altcoins are gaining bullish momentum, including ethereum, EOS, bitcoin cash, litecoin, binance coin, ADA, TRX, and XLM. ETH/USD is rising and it is likely to test the USD 190 and USD 192 resistance levels in the near term. Conversely, XRP/USD is still facing a strong resistance near the USD 0.300 and USD 0.304 levels. Overall, the crypto market capitalization is showing a lot of bullish signs and it could continue to rise steadily.
Total market capitalization
After a minor downside correction, bitcoin price climbed back above the USD 9,250 pivot level. At the outset, it seems like there is a decent support base forming near the USD 9,150 level. The next key support is near the USD 9,050 and USD 9,000 levels, below which the price could decline towards the USD 8,550 support area.
On the upside, an initial hurdle for the bulls is near the USD 9,580 level. A clear break above the USD 9,550 level might push the price above the USD 9,650 resistance. The next major resistance is near the USD 9,800 area.
Ethereum price is rising steadily and it is trading above the USD 185 level. ETH/USD could continue to rise towards the USD 190 and USD 192 resistance levels. If there are more upsides, the bulls might target the USD 200 area.
On the downside, an immediate support is near the USD 182 and USD 180 levels. If there is a break below USD 180, the price may perhaps test the USD 175 support.
Bitcoin cash, eos and XRP price
Bitcoin cash price rallied recently above the USD 265 and USD 280 resistance levels. BCH/USD is up around 10% and it traded close to the USD 300 level. At the moment, the price is correcting lower, with many supports near the USD 280 and USD 265 levels.
EOS settled above the USD 3.200 and USD 3.250 resistance levels. The price is currently trading above USD 3.350 and is facing resistance near USD 3.400. A clear break above USD 3.400 could push the price towards USD 3.550. On the downside, the main support is now near USD 3.250.
XRP price mostly traded in a range below the USD 0.300 and USD 0.304 resistance levels. If XRP/USD rallies above USD 0.304, it is likely to surge towards the USD 0.320 and USD 0.322 resistance levels in the near term. The main supports on the downside are near USD 0.292 and USD 0.290.
Other altcoins market today
In the past three sessions, a few small capitalization altcoins climbed higher and gained more than 5%, including REP, THETA, RLC, OMG, KCS, MIOTA, STEEM, RVN, ETN and AE. Out of these, REP is up around 10% and THETA gained close to 8%.
To sum up, bitcoin is likely to rise steadily towards the USD 9,650 resistance, above which it could even test the USD 10,000 resistance. Conversely, if there is a fresh decline below USD 9,250, the price might test USD 9,000 or even USD 8,850.