Bitcoin and Ethereum Extend Gains, AAVE and THETA Rally
- Bitcoin price is showing positive signs above USD 36,000.
- Ethereum might rise towards USD 2,800, XRP is trading above 1.00.
- AAVE, KSM, THETA, and WRX are up over 20%.
Bitcoin price remained well bid above the USD 36,000 level. BTC extended its rise towards the USD 38,000 resistance zone. It is currently (04:40 UTC) trading below USD 37,000, but dips might remain attractive near USD 36,000.
Besides, most major altcoins are showing positive signs. ETH broke the USD 2,650 resistance and it could rise further towards the USD 2,800 level. XRP/USD settled above USD 1.00, but it might face hurdles near the USD 1.10 level.
Total market capitalization
After a close above USD 35,500, bitcoin price started a steady increase. BTC broke the USD 36,500 resistance level and climbed above USD 37,000. However, the bulls failed to gain strength for a break above USD 38,000. The price is now correcting gains and trading below USD 37,000. An immediate support is near USD 36,200 and USD 36,000.
On the upside, an initial resistance is near the USD 37,500 level. The first major breakout resistance is now forming near the USD 38,000 level, above which it could test the USD 40,000 zone.
Ethereum price is up 15% and it broke the USD 2,650 resistance zone. ETH tested the USD 2,750 level before correcting lower. The price is now consolidating near USD 2,650. The first key support is near USD 2,600, below which the price might test USD 2,550.
If there is a fresh increase, the bulls need to clear the USD 2,720 level for more gains. The next key resistance is near the USD 2,850 level, above which the price could test USD 3,000.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) tested the USD 365 resistance level. BNB is now trading below USD 350, with an immediate support at USD 335. The next major support is near the USD 325 level. On the upside, the bulls might face hurdles near USD 365, followed by USD 380.
Litecoin (LTC) spiked above the USD 190 level, but there was no break above the USD 195 resistance. The main hurdle for a larger increase is near the USD 200 level. On the downside, the bulls might remain active near the USD 165 level in the near term.
Dogecoin (DOGE) is up over 10% and it is trading above the USD 0.320 level. If the bulls remain in action, there could be a move towards the USD 0.350 level. On the downside, the price might find strong support near USD 0.305 and USD 0.300.
XRP price settled above the USD 1.0 resistance zone. However, it is still trading below the USD 1.10 resistance. If there is a fresh increase, the bulls might aim for a break above USD 1.10. If not, the price might correct to test USD 0.950.
Other altcoins market today
Many altcoins gained over 10%, including AAVE, KSM, THETA, RUNE, LINK, VET, CAKE, SHIB, SUSHI, SOL, TFUEL, UNI, DOT, FTM, and ATOM. Out of these, AAVE rallied almost 25% and it broke the USD 380 level.
Overall, bitcoin price is showing signs of more gains above the USD 37,000 level. If there is a downside correction, BTC might remain stable near USD 36,000 and USD 35,500.