Bitcoin and Altcoins Signaling Bullish Continuation
- Bitcoin price is trading in a bullish zone above USD 9,500.
- Ethereum corrected lower after testing USD 250 and XRP is consolidating above USD 0.202.
- ZIL and OMG are up around 10% today.
This past week, bitcoin gained traction above the USD 9,000 and USD 9,200 levels. BTC even broke the USD 9,550 resistance zone, but it struggled to surpass the USD 9,800 barrier. It is currently (08:30 UTC) consolidating gains and it might attempt to clear the USD 9,800 and USD 10,000 resistance levels.
Similarly, there were bullish moves in many major altcoins, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD performed well and tested the key USD 250 resistance zone. XRP also settled above USD 0.200 and it is currently consolidating gains above USD 0.202.
Total market capitalization
After a short-term correction, bitcoin price found support near the USD 9,400 level. BTC is currently trading above the USD 9,500 level, with an immediate resistance near the USD 9,650 level. The first major resistance is near the USD 9,800 level. The main weekly resistance zone is near the USD 9,950 and USD 10,000 levels, above which the price might start a fresh rally.
On the downside, an initial support is near the USD 9,400 level. The key weekly support is now forming near the USD 9,200 level.
Ethereum price remained well bid above the USD 220 and USD 230 levels. As a result, ETH broke the USD 240 level and tested the USD 250 resistance zone. Recently, there was a downside correction, but the USD 230 zone provided support.
The price is rising again and it seems like the bulls are aiming for a retest of the USD 250 resistance zone. Any further gains could lead the price towards the USD 264 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price managed to clear the USD 240 resistance zone. BCH is now consolidating above USD 240 and it is facing hurdles near the USD 245 and USD 250 levels. The next major resistance is seen near the USD 265 level. On the downside, the USD 230 and USD 220 levels are now important supports for the current wave.
Litecoin gained pace above the USD 43.50 level and it even broke the USD 45.00 resistance. LTC is currently rising and it is trading near the USD 46.00 level. On the upside, the price might continue growing if it clears the USD 48.50 resistance. The main weekly hurdle is seen near the USD 50.00 level.
XRP price gained pace after it broke the USD 0.200 resistance. It even spiked above the USD 0.210 level, but it struggled to clear the USD 0.210 zone and recently corrected lower. The price is currently consolidating gains above USD 0.202 and it might revisit the USD 0.212 level in the near term.
Other altcoins market today
In the past three sessions, a few small-capitalization altcoins gained more than 5%, including ZIL, OMG, HOT, IOST, LINK, NEO, and ENJ. Conversely, ETN, MKR, MATIC, STX, HIVE, ZEC, SOLVE, and ADA are down more than 5%.
Overall, bitcoin price is now trading in a bullish zone above the USD 9,200 support zone. However, BTC is facing a lot of major hurdles near the USD 9,800 and USD 10,000 levels. If it fails to continue higher, there are chances of a fresh decline towards the USD 9,200 and USD 9,000 levels.