Bitcoin and Ethereum Buyers Remain In Control
- Bitcoin price extended gains above the USD 4,100 resistance level.
- Ethereum (ETH) and ripple (XRP) are placed in an uptrend.
- TTC and IOST are up more than 15% today.
This past week, bitcoin price started a decent upward move and broke the USD 4,000 and USD 4,070 resistance levels. BTC/USD even traded to a new monthly high above USD 4,120 before starting a downside correction. The price is currently (UTC 08:10 AM) trading above the USD 4,100 level, with key supports near USD 4,100 and USD 4,050. Similarly, ethereum price broke the key USD 140 resistance and revisited the USD 145 resistance. Ripple price rebounded and settled above the USD 0.308 and USD 0.310 resistance levels. XRP must surpass the USD 0.315 resistance level to reclaim the USD 0.320 level in the near term.
Total market capitalization
After trading towards the USD 4,150 level, bitcoin price started a downside correction. BTC/USD traded below the USD 4,100 support, but it found a strong support near USD 4,050. The price climbed higher again and it is currently trading above the USD 4,100 level.
An initial weekly resistance is at USD 4,150, above which the price may test the USD 4,200 resistance level. If there is a fresh decline below the USD 4,100 level, the price could test the USD 4,050 support. The main weekly support area is near the USD 4,000 level.
Ethereum price also followed a similar structure and it surged towards the USD 145 resistance after it broke the USD 142 resistance. Later, ETH/USD corrected lower and it is consolidating above USD 142.
The main weekly resistance is near the USD 145 level, followed by the USD 150 pivot. On the downside, a break below the USD 140 support may push the price towards the key weekly support at USD 135.
Bitcoin cash, eos and ripple price
Bitcoin cash remained in a bullish zone above the USD 160 support. BCH/USD recently climbed above the USD 165 resistance and it seems like the price could retest the USD 170 resistance level. On the downside, the main supports are USD 165 and 162.
EOS corrected lower and tested the USD 4.00 support area. The price rebounded recently above the USD 4.10 and USD 4.20 resistance levels. It is currently up more than 2% and it may revisit the USD 4.40 resistance area this week.
Ripple price recovered after a dip below the USD 0.300 level. XRP/USD is trading above the USD 0.310 support and it seems to be facing a couple of important resistances near the USD 0.312 and USD 0.314 levels. On the downside, the main supports are USD 0.310 and USD 0.306.
Other altcoins market today
In the past three sessions, many small cap altcoins climbed higher and gained more than 8%, including TTC, IOST, ABBC, DASH, NANO, DGTX, BAT, NULS, LOOM and WTC. Out of these, TTC rallied close to 17% and IOST is up around 16%.
Overall, bitcoin price is trading in a positive zone above the USD 4,100 and USD 4,060 support levels. On the upside, there are high chances of a fresh high above the USD 4,150 and USD 4,200 resistance levels in the coming days.