Bitcoin and Altcoins Sighting Next Significant Break
- Bitcoin price seems to be consolidating above the USD 9,000 support area.
- Ethereum is holding the USD 180 support and XRP is declining towards USD 0.285.
- Thunder Token (TT) rallied close to 50% and LAMB is up around 28% today.
In the past few sessions, bitcoin mostly traded in a range above the USD 9,000 support levels. BTC/USD made a couple of attempts to start a fresh increase above the USD 9,300 and USD 9,400 resistance levels, but it failed to continue higher.
Likewise, many major altcoins struggled to resume uptrend and either corrected further lower or consolidated in a range, including ethereum, EOS, bitcoin cash, ripple, litecoin, binance coin, ADA, TRX, and EOS. ETH/USD is currently (09:00 UTC) holding the USD 180 and USD 178 support levels, but XRP/USD is declining towards the USD 0.290 and USD 0.288 support levels. Besides, XLM/USD gained traction today and rallied close to 10%.
Total market capitalization
There were range moves in, bitcoin price above the USD 9,000 support area. BTC/USD seems to be preparing for the next crucial move. If it breaks the USD 9,000 support, the stop could be near the USD 8,850 support. Any further losses may perhaps lead the price towards the USD 8,550 support.
Conversely, the price could start a fresh upward move above the USD 9,250 and USD 9,350 resistance levels. The main resistance is near the USD 9,500, above which it could revisit the USD 10,000 resistance area in the coming days.
Ethereum price declined recently below the USD 185 support level. ETH/USD even traded below USD 180, but it recovered later. The price is currently consolidating above USD 180 and it seems like there could be more losses towards USD 174 or USD 172.
To start a fresh increase, the price must surpass the USD 185 and USD 188 resistance levels. The next key resistances are near USD 195 and USD 200.
Bitcoin cash, eos and XRP price
Bitcoin cash price topped near the USD 305 resistance area and it recently started a downside correction. BCH/USD traded below the USD 290 support and tested the USD 280 support. If there are more losses, the price could correct further towards the USD 268 and USD 265 support levels.
EOS failed to stay above USD 3.300 and declined below USD 3.250. The price is currently holding the USD 3.200 support. If there are additional weakness, the price could test the USD 3.050 and USD 3.000 support levels in the near term. On the upside, there are resistances near USD 3.350 and USD 3.400.
XRP price failed to climb above the USD 0.300 and USD 0.304 resistances on many occasions. As a result, XRP/USD started a downward move below the USD 0.295 and USD 0.292 supports. The price is now trading near USD 0.290 and it could decline towards the USD 0.285 support.
Other altcoins market today
In the past three sessions, a few small capitalization altcoins climbed higher and gained more than 5%, including TT, LAMB, ZIL, DCR, CENNZ, IOST, XLM and STEEM. Out of these, TT rallied close to 50% and LAMB jumped around 28%.
Overall, bitcoin price is testing an important support area near USD 9,000. It is likely to start another increase as long as it is above USD 9,000 and USD 8,850. If not, BTC/USD could revisit the USD 8,550 support area.