Bitcoin and Altcoins Target Fresh Highs Post Recent Rally
Bitcoin price is up around 4% and it climbed back above USD 10,000. Ethereum gained 5% above USD 275 and XRP is closing in towards USD 0.300. ABBC, DX, ICX CENNZ are gaining bullish momentum today.
After forming a support base above USD 9,650, bitcoin started a strong increase. BTC/USD surged above the USD 9,850 and USD 10,000 resistance levels to enter a positive zone. The price is now (09:00 UTC) consolidating gains and it could continue to rise towards USD 10,400 and USD 10,550.
Similarly, there were strong gains in most major altcoins, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD tested the USD 285 resistance and it is currently consolidating gains. On the other hand, XRP/USD is struggling to gain bullish momentum above the USD 0.295 and USD 0.300 resistance levels.
Total market capitalization
Bitcoin price
In the past three sessions, bitcoin price followed a strong bullish path above the USD 9,850 and USD 10,000 resistance levels. BTC/USD even spiked above USD 10,200 before it faced sellers near the USD 10,250 level. It is currently consolidating gains and it could continue to rise towards USD 10,400. The main resistance is still near the USD 10,550 level.
On the downside, an initial support is still near USD 10,020, followed by the USD 10,000 handle. The key support is still near the USD 9,850 level, below which there is a risk of more losses.
Ethereum price
Ethereum price is showing positive signs above the USD 270 and USD 275 levels. ETH/USD tested the USD 285 resistance and it seems like there are chances of a solid upward move above the USD 288 and USD 292 levels in the near term.
If there is a downside correction below the USD 275 level, the price could revisit the USD 270 support area. The main uptrend support is now near USD 265.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price settled above the USD 400 handle and extended gains above USD 405. BCH/USD climbed above the USD 415 level and it is approaching the USD 420 resistance. A clear break above the USD 420 level could set the stage for a larger upward move towards the USD 450 level in the near term.
Litecoin remained well bid above the USD 72.50 support and it recently climbed back above USD 75.50. To start another strong increase, LTC/USD must surpass the USD 78.50 and USD 80.00 resistance levels. On the downside, the USD 75.50 level is a decent support, followed by the USD 72.50 pivot level.
XRP price remained well bid above the USD 0.288 and USD 0.290 levels. However, the bulls also failed to gain momentum above the USD 0.295 and USD 0.300 resistance levels. An upside continuation above the USD 0.300 level is likely to boost the market sentiment for a run towards the USD 0.320 level.
Other altcoins market today
In the past three sessions, many small-capitalization altcoins climbed more than 5%, including ABBC, DX, ICX, CENNZ, ENJ, MKR, QNT, BTM, XTZ, SC, OKB, ALGO, MANA, HT, and MATIC. Out of these, ABBC rallied close to 30% and DX is up around 16%.
Overall, bitcoin is showing positive signs above the USD 10,000 and USD 10,020 levels. Therefore, there are high chances of more upsides above USD 10,250 and USD 10,300. On the downside, the main supports are near USD 9,850.
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