Bitcoin and Altcoins Signaling Upside Continuation
- Bitcoin price is consolidating gains near the USD 38,000 level.
- Ethereum is eyeing more upsides above USD 1,200, XRP stuck below USD 0.300.
- HEDG surged over 100%, and AAVE gained 70%.
Bitcoin price gained bullish momentum above the USD 36,000 resistance level. BTC even cleared the USD 38,000 resistance before it faced sellers near USD 38,700. It is currently (13:00 UTC) consolidating gains, and dips might remain supported near USD 37,200 and USD 36,500.
Similarly, most major altcoins are showing bullish signs. ETH/USD broke the USD 1,150 resistance level and it seems to be eyeing a break above USD 1,200. On the other hand, XRP/USD is still facing a strong selling interest near USD 0.300.
Total market capitalization
After a successful close above USD 36,000, bitcoin price extended its rise above the USD 37,000 and USD 37,500 levels. BTC even broke the USD 38,000 level, but it failed to stay above USD 38,500. It is consolidating gains, with an initial support near the USD 37,500 level. The first key support is near the USD 37,200 level, below which it could test the USD 36,500 level.
On the upside, the price might gain momentum again if it settles above the USD 38,500 level. In this case, the bulls might test USD 39,200 and USD 40,000.
Ethereum price broke the key USD 1,150 resistance level to move further into a positive zone. ETH settled above USD 1,150 and it is currently preparing for the next move. A clear break above USD 1,175 and USD 1,180 could lead the price towards the USD 1,220 and USD 1,240 levels.
On the downside, the USD 1,150 level is a decent support (the recent breakout zone). A close below USD 1,150 might lead the price towards the USD 1,120 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price gained over 6% and it broke the USD 500 resistance level. BCH is showing positive signs and it seems like the bulls might test the USD 550 and USD 560 levels. If there is a downside correction, the USD 488 and USD 485 levels might provide support.
Litecoin (LTC) is trading in a bullish zone above USD 145. However, LTC must settle above USD 150 to gain a strong momentum. In the stated case, the price could rally 5%-6% and it might test the USD 165 level. The next major resistance on the upside is near the USD 180 level.
XRP price is still facing a monster hurdle near the USD 0.300 level. If there is a proper close, it could clear the USD 0.312 resistance. The next major resistance is near the USD 0.340 and USD 0.350 levels. Conversely, a downward move might find a strong buying interest near the USD 0.265 and USD 0.255 levels.
Other altcoins market today
Many altcoins gained over 15%, including HEDG, AAVE, VGX, DOT, SUSHI, IOST, ABBC, LRC, KSM, UNI, GRT, AVAX, EGLD, REN, HBAR, and DCR. Out of these, HEDG surged over 100% and it tested the USD 1.00 level, while AAVE rallied to USD 1.47.
To sum up, bitcoin price is gaining pace above USD 38,000. A successful close above USD 38,000 could further improve the sentiment and the price might surge towards the USD 40,000 level.