Bitcoin and Altcoins Target Further Upsides, Dips Supported
- Bitcoin price is up more than 5% and it is trading above the USD 7,400 resistance.
- Ethereum is placed above USD 150 and XRP is consolidating above USD 0.220.
- TT, SOLVE, IGNIS and ENG are up more than 20% today.
Recently, there was a strong recovery wave in bitcoin price above the USD 7,000 resistance area. BTC/USD climbed above the USD 7,200 resistance and recently surged above USD 7,400. The price even spiked above USD 7,600 and it is currently (09:00 UTC) correcting gains.
Likewise, there was a strong upward move in major altcoins, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD is broke the key USD 150 resistance area and tested the USD 155 hurdle. XRP/USD is now trading above the USD 0.220 resistance and it could rise further above USD 0.225.
Total market capitalization
After an upward move, bitcoin price settled above the USD 7,000 resistance area. BTC/USD is now trading above the USD 7,400 resistance and it is correcting gains. An initial support is near the USD 7,400 level, below which it could test the main USD 7,320 support area.
On the upside, the main resistances are near the USD 7,550 and USD 7,650 levels. A clear break above the USD 7,650 resistance area may perhaps set the tone for a decent upward move. The next key resistances are near USD 7,850 and USD 8,000.
Ethereum price bounced back above USD 150 resistance and it even tested the USD 155 resistance area. ETH/USD is now trading above USD 152, with supports near USD 150 and USD 148.
On the upside, the first key resistance is near the USD 155 level, above which there are high chances of more upsides above the USD 158 and USD 160 levels. Any further gains could lift the price towards USD 165.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is trading above the USD 200 and USD 205 resistance levels. BCH/USD is now trading above USD 220, but it is struggling to rise above the USD 225 resistance area. A clear break above USD 225 may perhaps lead the price towards the USD 240 level.
Litecoin is slowly rising towards the USD 47.50 and USD 48.00 resistance levels. Having said that, a clear break above USD 50.00 is needed for a trend change. On the downside, the main supports are near the USD 45.80 and USD 44.60 levels.
XRP price climbed higher recently above the USD 0.220 and USD 0.221 resistance levels. XRP/USD is also trading above the USD 0.225 level and it could continue to rise towards the USD 0.228 and USD 0.230 levels. On the downside, the main supports are near USD 0.224 and USD 0.220.
Other altcoins market today
In the past three sessions, many small capitalization altcoins climbed more than 12%, including TT, SOLVE, IGNIS, ENG, MATIC, CHZ, NPXS, MAID, ARDR, IOST and STEEM. Out of these, TT rallied around 80% and SOLVE is up more than 40%.
To sum up, bitcoin is gaining bullish momentum above the USD 7,350 resistance area and it could continue to rise. BTC/USD is currently correcting gains, but it is likely to remain well bid near USD 7,350 and USD 7,250. On the upside, the main hurdles are near USD 7,550, USD 7,650 and USD 7,880.