Bitcoin and Altcoins Staging a Comeback
- Bitcoin price is slowly recovering and it could continue to rise above USD 8,000.
- Ethereum might surpass USD 250 and ripple price gained more than 5%.
- ARDR rallied more than 40% and XTZ gained around 18% today.
Recently, there was a decent recovery in bitcoin price above USD 7,700 and USD 7,800 levels. BTC/USD is currently showing a few positive signs above USD 7,850 and it could continue to rise in the near term. A successful close above USD 8,000 is likely to ignite more gains towards USD 8,100 and USD 8,200. Similarly, ethereum price is gaining traction above USD 245 and it might climb above the USD 250 resistance area. Ripple is performing well and it is currently (08:10 UTC) up more than 5%. XRP/USD is currently up around USD 0.420. Overall, the market sentiment is positive and signaling more upsides in the near term.
Total market capitalization
After forming a decent support, bitcoin price recovered above USD 7,800 and USD 7,850. BTC/USD is currently up around 2.5% and it seems like it could continue to climb higher. A successful break above USD 8,000 could trigger an upside break towards the USD 8,200 level. The main resistance area is USD 8,250, above which the price may rise towards the USD 8,400 level.
On the downside, an initial support is at USD 7,850, below which the price might test the USD 7,700 support area. The main support is near the USD 7,600 level.
Ethereum price started a steady recovery above USD 242 and USD 245. ETH/USD is currently trading near USD 250 and it might continue to accelerate in the near term. A successful close above USD 250 may perhaps push the price above USD 255 and USD 260.
On the downside, an initial support is near the USD 245 level. If the price fails to stay above USD 245, there could be more losses towards the USD 240 level.
Bitcoin cash, eos and ripple price
Bitcoin cash price recovered above USD 380 and 390. BCH/USD is currently up around 2% and it seems like it might surpass the USD 400 level. A successful close above USD 400 is likely to trigger more upsides towards the USD 410 and 420 level. On the downside, the main supports are near USD 390 and USD 385.
EOS stayed above the USD 6.20 and USD 6.30 support levels. The price is currently up around 2.5% and might break the USD 6.50 resistance area. The next key resistances are near USD 6.60 and USD 6.65.
Ripple price recently broke the USD 0.400 and USD 0.412 resistance levels. XRP/USD is currently up around 5% and it is trading above the USD 0.420. The next key resistances are near USD 0.422 and USD 0.425.
Other altcoins market today
In the past three sessions, many small cap altcoins recovered and gained more than 10%, including ARDR, XTZ, HC, SNT, ZIL, ETP, MANA and LTC. Out of these, ARDR is up around 45% and XTZ gained nearly 18%.
Overall, bitcoin price is showing positive signs above USD 7,850 and might clear the USD 8,000 barrier. If BTC/USD settles above USD 8,000, there are chances of more upsides above USD 8,200.