Bitcoin and Altcoins Target Fresh Highs In New Year
- Bitcoin price seems to be aiming more upsides above USD 29,500 and USD 30,000.
- Ethereum must settle above USD 750 for a fresh rally, XRP is showing positive signs above USD 0.212.
- DOT is outperforming and it is up over 12%.
There were positive moves in bitcoin price above the USD 28,800 pivot level and USD 29,000. BTC traded to a new all-time high close to USD 29,500 and it is currently (04:00 UTC) trading in a positive zone. It seems like the price might continue to rise towards USD 29,800 and USD 30,000 in the near term.
Similarly, most major altcoins are trading in a positive zone. ETH/USD is trading above USD 740, but it must gain pace above USD 750 for a sustained move higher. XRP/USD is trading well above USD 0.225 and it might test the USD 0.250 resistance.
Total market capitalization
In the past two sessions, bitcoin price remained well bid above the USD 28,500 and USD 28,000 levels. BTC is trading above USD 29,000, with an immediate resistance near USD 29,500. The first key resistance is near the USD 29,880 level, above which the price might surpass the USD 30,000 resistance.
If there is a downside correction, the price might find buyers near the USD 28,800 level. The next key support is near the USD 28,500 level, below which it could revisit USD 28,000.
Ethereum price is stuck in a key range above the USD 735 and USD 740 levels. ETH must settle above USD 750 to start a fresh increase. In this case, it might accelerate higher towards the USD 765 and USD 780 levels in the coming sessions.
On the downside, the USD 740 level is a short-term support. The main support is now forming near the USD 728 and USD 730 levels.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is consolidating near the USD 350 level. It is facing hurdles near the USD 358 and USD 360 levels. A convincing close above the USD 360 level may possibly clear the path for a push towards the USD 388 level. On the downside, a break below the USD 340 support might call for a test of USD 330 or USD 322.
Litecoin (LTC) is trading above the USD 130 level and it seems to be setting up for a larger increase. The first key resistance is near the USD 138 and USD 140 levels. A close above the USD 140 level could set the pace for a sustained upward move towards USD 150 and USD 155.
XRP price is showing positive signs and it is now trading above the USD 0.220 level. It is also trading near the USD 0.232 resistance. If the bulls remain in action, there are chances of a steady rise towards the USD 0.250 resistance level. On the downside, the USD 0.212 level is a major support.
Other altcoins market today
In the past few hours, many altcoins gained over 8%, including DOT, UST, ZEN, KSM, FIL, RSR, AAVE, OKB, REN, ALGO, AVAX, YFI, DOGE, and NXM Out of these, DOT rallied further above the USD 8.50 and USD 9.00 resistance levels.
Overall, bitcoin price is showing positive signs above the USD 28,800 pivot level. If BTC climbs above USD 29,500, it could further clear the path for a test of USD 30,000.