Bitcoin And Ether Rally, Other Altcoins Might Follow Soon
Bitcoin price surged above the key USD 9,550 resistance area. Ethereum rallied more than 4%, but XRP is struggling to clear the USD 0.190 resistance. DGB and BCD are up over 20% today.
In the past few hours, bitcoin price gained bullish momentum and rallied above the main USD 9,550 resistance level. It opened the doors for more gains and BTC traded close to USD 9,800. The price is currently correcting lower, but dips are likely to find a strong buying interest near USD 9,600 and USD 9,550.
Most major altcoins are also showing positive signs, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD outperformed and gained more than 4% to clear the USD 240 resistance level. On the other hand, XRP/USD is trading flat and it is still struggling to clear the USD 0.190 resistance zone.
Total market capitalization
Recently, bitcoin price saw a sharp increase above the USD 9,500 and USD 9,550 resistance levels. BTC traded close to the next resistance at USD 9,800 before correcting lower. There was a break below the USD 9,700 level, but the price is currently (08:30 UTC) trading above USD 9,600. The main support is now seen near USD 9,550.
On the upside, an initial resistance could be USD 9,750 and USD 9,800. A clear break above USD 9,800 might push the price towards the USD 10,000 resistance level.
Ethereum price outperformed most major altcoins and gained more than 4%. ETH broke the USD 240 resistance and traded close to the USD 250 level. The price is now trading near USD 245 and dips towards USD 240 might find strong bids.
On the upside, the USD 250 level is a crucial resistance. A clear break above the USD 250 resistance might pump the price towards the USD 265 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is slowly rising and it is trading just above the USD 240 resistance level. If BCH gains momentum, it could continue to rise towards the USD 250 resistance. If not, the price may possibly retreat lower towards the USD 232 and USD 230 support levels.
Litecoin is up around 1% and it is trading comfortably above USD 43.20. However, the bulls are facing an uphill task near the USD 45.00 resistance. If LTC settles above USD 45.00, it will likely continue to rise towards the USD 48.50 and USD 50.00 resistance levels. On the downside, there are many supports, starting at USD 43.20 and up to USD 42.00.
XRP price is consolidating below the USD 0.190 resistance level. It failed to follow bitcoin and ether, which could be a warning sign. If there is an upside break above USD 0.190 and USD 0.192, the price could rise further towards USD 0.200. Conversely, the bears are likely to attempt a fresh decline towards USD 0.182.
Other altcoins market today
In the past three sessions, a few small altcoins gained over 5%, including DGB, BCD, BNT, REN, DX, THETA, SEELE, IOST, SNX, CEL, NRG, ETN and ONT. Conversely, FXC dived more than 15%, and LEND is down close to 10%.
Overall, bitcoin is trading in a bullish zone above USD 9,550, and it might continue to rise. A clear break above the USD 9,800 level in BTC could increase the chances of a break above the USD 10,000 resistance in the coming sessions.