Bitcoin and Altcoins Showing Positive Signs
Bitcoin price is showing positive signs above the USD 7,350 resistance. Ethereum gained nearly 6% to trade above USD 135, but XRP is still below USD 0.200. BTT, ZEN and DGD gained more than 10% today.
In the past few sessions, there were decent bullish moves in bitcoin price above the USD 7,250 and USD 7,350 resistance levels. BTC/USD even rallied above the USD 7,400 level, but it struggled to surpass the main USD 7,550 hurdle. The price trimmed gains and it is currently (09:00 UTC) consolidating near USD 7,350.
Out of most major altcoins, ethereum and BNB gained more than 5%, while bitcoin cash, XRP, EOS, TRX, ADA, and XLM are showing positive signs. ETH/USD is now trading above USD 130 and it could soon trade above USD 140. On the other hand, XRP/USD must climb above the USD 0.200 resistance to gain bullish momentum.
Total market capitalization
After a strong upward move, bitcoin price faced resistance near USD 7,550. BTC/USD dropped back below USD 7,400 and it is currently consolidating near the USD 7,350 level. It seems like the price is likely to retest the main weekly resistance near USD 7,550, above which the bulls are likely to gain strength for a push to USD 7,850.
On the downside, the main weekly support is near USD 7,200, below which the price could struggle to resume its upward move. In this case, there is even a risk of a break below the USD 7,000 support.
Ethereum price performed well and it surged above the USD 132 and USD 135 resistance levels. ETH/USD is up around 5% and it is now consolidating near the USD 135 level. On the upside, the next target for the bulls could be near USD 140 and USD 145.
On the downside, an initial support is near the USD 132 level, followed by USD 130. The main weekly support is near the USD 125 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price started an upward move above USD 195 and it climbed above the USD 200 resistance area. BCH/USD is now trading above USD 210 and it could rise towards the USD 220 and USD 225 levels. On the downside, the key support is now near the USD 200 level.
Litecoin remained well bid above the USD 40.50 level. LTC/USD started an upward move and broke the USD 42.50 resistance. It seems like the price might continue to rise towards the key USD 45.00 resistance area. On the downside, there are many supports near USD 41.00 and USD 40.50.
XRP price climbed higher a few points above USD 0.195. However, XRP/USD is still struggling to gain strength above the USD 0.200 resistance area. It seems like the price is setting up for a major rally above the USD 0.200 and USD 0.205 resistances. The main support is forming near USD 0.192.
Other altcoins market today
In the past three sessions, a few small capitalization altcoins climbed more than 5%, including BTT, ZEN, DGD, REP, BSV, NEX and BNB. Conversely, EKT, TOMO, BCN, STRAT, WAVES and DX are down more than 5%.
Overall, bitcoin price is trading above the USD 7,200 and USD 7,350 support levels. On the upside, a clear break above the USD 7,550 resistance area could start a strong rally towards the USD 8,000 level in the near term.