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Bitcoin And Altcoins Trend Turns Bullish

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Bitcoin price is up around 5% and it even briefly surpassed USD 7,000. Ethereum is now trading above USD 142 and XRP broke the USD 0.178 resistance. Swipe (SXP) rallied more than 100% and SNX is up around 12% today.

Yesterday, we saw a positive price action, resulting in more upsides in bitcoin price above the USD 6,850 and USD 7,020 resistance levels. BTC/USD even climbed towards USD 7,250 before correcting lower. The price is currently (08:30 UTC) rising and it seems like it could revisit the USD 7,250 level in the near term.

Similarly, many major altcoins are trading in a bullish trend, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD popped above the key USD 140 and USD 142 resistance levels. Besides, XRP/USD is gaining bullish momentum and it is trading above the USD 0.178 resistance.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

Recently, bitcoin price started a strong bullish wave above the USD 6,550 resistance area. BTC/USD surpassed the USD 6,850 and USD 7,020 resistance levels. It tested the USD 7,250 resistance and corrected lower towards USD 6,850. The price is currently trading with a positive angle and looks set for a fresh upward move towards the USD 7,120 and USD 7,250 levels. Any further gains could lead the price towards the USD 7,400 level.
On the downside, there is a decent support forming near USD 6,800 and USD 6,750. The main support is now near USD 7,550, below which bitcoin is likely to turn bearish.

Ethereum price

Ethereum price remained well bid above the USD 135 level and it climbed above the USD 142 resistance. As a result, ETH/USD tested the USD 150 resistance before correcting gains. The price is again rising and it seems to be setting up for a strong move towards the USD 160 level in the near term.
On the downside, an initial support is near the USD 140 level, below which the bulls are likely to protect the main USD 135 support.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price is up more than 5% and it was able to climb above the USD 230 resistance. BCH/USD tested the USD 250 resistance and it is currently correcting lower. As long as the price is above the USD 230 level, it could make another attempt to surpass the USD 248 and USD 250 resistance levels.
Litecoin finally broke the USD 38.50 and USD 40.50 resistance levels. If LTC/USD remains stable above USD 40.00, it is likely to test the USD 41.20 and USD 42.50 resistance levels. Conversely, it may perhaps revisit the USD 36.50 support.
XRP price is slowly gaining bullish momentum and it recently climbed above the USD 0.178 resistance level. The price is now trading above USD 0.180 and it might continue to rise steadily towards the USD 0.188 resistance. On the downside, the USD 0.178 level is likely to act as a strong support.

Other altcoins market today

In the past three sessions, many altcoins gained more than 5%, including SXP, SNX, CHZ, XMR, NANO, DGTX, STEEM, BSV, BCN, DGB, THETA, BNB, DASH, XTZ, CKB, DGD, and ZEN. Out of these, SXP rallied more than 100% to move into the top 80.

Overall, bitcoin price is showing positive signs above the USD 6,700 and USD 6,550 support levels. If BTC/USD reclaims the USD 7,000 handle, there are chances of it extending gains towards the USD 7,250 level in the coming sessions.

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