Bitcoin and Ethereum Correct Gains, ETC Keeps Rallying
Bitcoin price tested USD 36,500 and started a downside correction. Ethereum also corrected lower from USD 2,250, XRP rallied above USD 0.70 before trimming gains. ETC rallied almost 29%, and BTG gained nearly 17%.
Bitcoin price followed a bullish path above the USD 35,000 resistance zone. BTC even broke USD 36,000 and spiked above USD 36,500. It is currently (04:36 UTC) correcting gains, but the bulls might remain active near USD 35,000.
Besides, most major altcoins are trading above key support. ETH extended its rally above USD 2,200 before the bears appeared near USD 2,250. XRP/USD rallied above USD 0.70 and USD 0.72 before correcting gains.
Total market capitalization
There was a steady increase in bitcoin price above the USD 35,000 resistance zone. BTC even broke USD 36,000, but it struggled to gain strength above USD 36,500. As a result, there was a downside correction below USD 36,000. On the downside, the previous resistance near USD 35,000 might provide support. The next major support is now forming near the USD 34,200 zone.
An initial resistance is near the USD 36,000 zone. The first major resistance is near USD 36,500, above which the price might rise towards the USD 38,000 level.
Ethereum price outperformed bitcoin and it climbed above USD 2,150. It even climbed above USD 2,200 and tested the USD 2,250 hurdle. The price is now correcting gains and trading below USD 2,150. An initial support is near the USD 2,100 level, below which the price might test USD 2,050.
If there is a fresh increase, the price might face resistance near USD 2,200. The main resistance is now forming near the USD 2,250 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) climbed higher above the USD 300 resistance. BNB tested USD 315 and it is now correcting gains. An immediate support is near USD 292, but the key breakdown support sits at USD 280. On the upside, the price could gain bullish momentum if there is a daily close above the USD 300 level.
Litecoin (LTC) extended its upward move above the USD 142 resistance. However, the bulls struggled near the USD 150 resistance. It is now correcting gains and trading near USD 142. If there are more losses, the price might test the USD 135 support zone in the near term.
Dogecoin (DOGE) climbed further above the USD 0.265 resistance. It tested USD 0.275 before trimming gains. DOGE is now consolidating near the USD 0.250 support. If there are more losses, the bears might test the USD 0.220 support.
XRP price extended its rally above the USD 0.700 level. The price even spiked above USD 0.720 before the bears appeared near USD 0.735. XRP is now trading below USD 0.700, but the bulls might remain active near the USD 0.650 support zone.
Other altcoins market today
Many altcoins gained over 8%, including ETC, BTG, QTUM, ZEN, DCR, ZEC, FIL, VET, EGLD, SHIB, WAVES, OMG, and TEL. Out of these, ETC rallied by 29%, almost touching USD 62, before correcting lower. As reported, the Ethereum Classic network will undergo a hard fork to implement the Magneto upgrade, scheduled for late July, the team announced. The upgrade will include Ethereum Berlin upgrade features, and therefore certain Ethereum Improvement Proposals that will tackle the network’s security and gas fees.
Overall, bitcoin price is correcting gains from the USD 36,500 resistance. As long as BTC is stable above USD 35,000 and USD 34,000, there are chances of a fresh increase.