Bitcoin and Altcoins Trend Turns Bullish
Bitcoin price is gaining traction and it broke the key USD 9,500 resistance. Ethereum is up close to 8%, but XRP is still struggling near USD 0.200. BNT rallied more than 30% and STX gained nearly 20% today.
In the past two sessions, there was a strong rise in bitcoin price above the USD 9,200 and USD 9,300 levels. BTC even broke the USD 9,500 resistance and it might continue higher towards the USD 9,800 and USD 9,950 levels in the near term.
Similarly, there was a steady rise in most major altcoins, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD rallied more than 8% to clear the USD 220 barrier. On the other hand, XRP is struggling to gain pace above the USD 0.200 and USD 0.202 resistance levels.
Total market capitalization
After a close above the USD 9,200 level, bitcoin price gained bullish momentum. It rallied above the USD 9,400 and USD 9,500 levels. BTC is now (08:30 UTC) trading comfortably and it seems like there could be more gains above the USD 9,600 level. The next major resistance is near the USD 9,780 and USD 9,800 levels. Any further gains could open the doors for a push towards the USD 9,950 level.
On the downside, there are many supports forming near the USD 9,350 and USD 9,200 levels. The next major support is near the USD 9,050 level.
Ethereum price outperformed bitcoin and broke many hurdles near USD 215 and USD 220. ETH even tested the USD 225 resistance it seems like there are chances of more upsides in the near term. The next resistance is near the USD 230 level.
On the downside, the previous supports near the USD 215 level may perhaps act as a strong support in the coming sessions.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price managed to gain pace above the USD 230 and USD 235 levels. However, BCH is still facing hurdles near the USD 240 level, above which there are chances of a sustained upward move towards USD 250 and USD 255. On the downside, the main support is now near the USD 230 level.
Litecoin is gaining pace and it recently cleared the USD 43.50 resistance zone. It is now approaching the USD 44.50 and USD 45.00 levels, above which there are chances of a sustained upward move towards the USD 48.00 and USD 50.00 levels. On the downside, the previous hurdle near USD 43.50 may now act as a support.
XRP price bounced back above the USD 0.195 level. However, the price is still struggling to gain pace above the USD 0.200 and USD 0.202 resistance levels. If it continues to struggle, there could be a fresh decline. An initial support is near the USD 0.195 level, but the key support is at USD 0.192.
Other altcoins market today
In the past three sessions, a few small altcoins jumped more than 5%, including BNT, STX, ADA, NEXO, ETC, XTZ, NRG, ICX, LINK, OKB, and XMR. Out of these, BNT performed well and rallied more than 30% to clear the USD 0.700 resistance.
Overall, bitcoin price is accelerating higher and it seems like there could be more gains above the USD 9,600 and USD 9,700 levels. If there is a downside correction, the price is likely to find bids near the USD 9,200 area.
Learn more: Brace for Bitcoin Volatility as Large Number of Futures & Options Expire