14 Jan 2021 · 2 min read

Bitcoin and Altcoins Start Fresh Surge, DOT Outperforms

Bitcoin price is up over 10% and it broke many important hurdles. Ethereum retested the main USD 1,150 resistance, XRP is still struggling to close above USD 0.300. HEDG rallied over 50%, and DOT surged 35% to clear USD 11.00.

Bitcoin price started a fresh increase after forming a base above USD 32,400 and USD 33,200. BTC gained strength above USD 35,000 and it was able to clear a major hurdle at USD 36,000. It is currently (05:00 UTC) trading above USD 37,000 and it seems like there are chances of more upsides.

Similarly, most major altcoins recovered and climbed higher. ETH/USD broke the USD 1,100 level, but it failed to clear the USD 1,150 resistance. XRP/USD is still below the USD 0.300 resistance level.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After a clear break above USD 35,000, bitcoin price was able to climb above the USD 35,500 and USD 36,200 resistance levels. BTC gained over 10% and it even spiked above USD 38,000. It is correcting gains, but dips are likely to remain limited below USD 37,000. The previous resistance at USD 36,200 and USD 36,000 might act as a support in the near term.
On the upside, the price could struggle near USD 38,000. The first key resistance is near the USD 38,750 level, above which it could revisit the USD 40,000 zone.

Ethereum price

Ethereum price also followed bitcoin, and it broke the USD 1,080 and USD 1,100 resistance levels. However, ETH faced another rejection near the USD 1,150 level. The price corrected gains and tested the USD 1,100 zone. The first key support is near the USD 1,080 level, below which it could test USD 1,050.
To continue higher, the price must gain momentum above the USD 1,135 and USD 1,150 levels. If it succeeds, the bulls might test USD 1,220.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price is showing up over 5% and it was able to revisit the USD 500 level. However, BCH failed to settle above USD 500 and it is now consolidating gains above USD 485. To continue higher, the price must settle above USD 500 and then gain pace above USD 510.
Litecoin (LTC) climbed 10% and it was able to settle above the USD 145 resistance. LTC is now facing hurdles near USD 150, above which the bulls could target a test of the USD 165 resistance level. On the downside, the USD 145 and USD 142 levels may possibly act as strong supports.
XRP price underperformed and it is still struggling to settle above the USD 0.300 and USD 0.312 resistance levels. A clear close above the USD 0.312 level is a must for upside continuation. On the downside, the USD 0.265 and USD 0.255 levels could continue to provide support in the near term.

Other altcoins market today

Many altcoins gained over 10%, including HEDG, DOT, RUNE, LRC, KSM, IOST, SUSHI, STX, UNI, DCR, ZEC, ATOM, AVAX, THETA, LINK, and QNT. Out of these, HEDG surged over 50% and it broke the USD 0.600 resistance.

Overall, bitcoin price is back in the green zone above USD 36,000. If BTC breaks the USD 38,000 zone, it could continue to rise towards the USD 40,000 resistance.

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