Bitcoin and Altcoins Start Fresh Increase, Ethereum Outperforms
- Bitcoin price is rising again, but it must gain strength above USD 11,250.
- Ethereum is up over 6% and approaching USD 340, XRP might revisit the USD 0.250 resistance.
- BNT gained 25% and VET is up more than 10% today.
Bitcoin price remained stable above the USD 10,800 support and recently started a steady rise. BTC surpassed the USD 11,050 level and it is currently (08:30 UTC) trading near USD 11,100. The main hurdle on the upside is still USD 11,250, above which the bulls might aim at a new multi-week high above USD 11,450.
Similarly, most major altcoins are showing signs of a fresh increase, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, XLM, and ADA. ETH/USD is up more than 6% and it even traded to a new monthly high at USD 342 before correcting gains. XRP/USD is also rising and it seems like the bulls are targeting a retest of USD 0.250.
Total market capitalization
After a short-term downside correction, bitcoin price recovered above USD 11,000 and USD 11,050. BTC is now rising steadily and it may soon retest the USD 11,200 and USD 11,250 levels. To continue higher and gain strength, the price must settle above the USD 11,250 level. The next resistance is near USD 11,400, above which the price might surge above USD 11,500.
On the downside, the USD 11,000 level is an initial support. The main support is now forming near the USD 10,800 level.
Ethereum price outperformed bitcoin, and it climbed above the USD 335 resistance. ETH gained over 6% and it even spiked above USD 340. The current price action is positive, suggesting more possible upsides above the USD 340 and USD 345 levels.
The first major support is near the USD 235 level, but the previous resistance near USD 230 might act as a strong buy zone if there is a downside correction.
Bitcoin cash, ADA and XRP price
Bitcoin cash price is gaining bullish momentum above USD 280 and it is slowly rising towards the USD 298 and USD 300 resistance levels. BCH is up around 3% and it might make another attempt to clear the USD 300 resistance. If the bulls fail, there is a risk of a bearish wave towards the USD 280 support.
ADA is struggling to gain strength above the USD 0.142 and USD 0.145 resistance levels. If there is a clear break above USD 0.145, the price might climb higher towards the USD 0.150 and USD 0.152 levels. Conversely, the bears might push the price towards the USD 0.130 and USD 0.128 support levels.
XRP price is consolidating above the USD 0.245 level and showing bullish signs. The price might climb towards the USD 0.248 and USD 0.250 levels. Any further gains could lead the price towards the USD 0.255 levels. On the downside, there are strong supports forming near USD 0.242 and USD 0.240.
Other altcoins market today
In the past three sessions, many small altcoins gained over 5%, including BNT, FXC, VET, ANT, LINK, SNX, BAND, DIVI, HYN, ZIL, and HEDG. Conversely, ERD, RUNE, LUNA, TMTG, ABBC, and NEXO are down more than 5%.
Overall, bitcoin price is showing signs of a fresh increase above USD 11,200 and USD 11,250. If BTC fails again to settle above USD 11,250, there is a risk of a bearish reaction below USD 11,000 and USD 10,800.