Bitcoin and Ethereum Hold Important Support, KCS and SNX Rally
Bitcoin price corrected lower, but it stayed above the USD 33,200 support. Ethereum is consolidating above USD 2,200, XRP is finding strong bids near USD 0.65. KCS rallied 45%, and SNX rose 31%.
Bitcoin price started a downside correction below the USD 35,000 level. BTC even traded below USD 34,000, but the bulls protected the USD 33,200 support. It is currently (04:27 UTC) moving higher and is approaching USD 34,500 which might help the price accelerate.
Besides, most major altcoins are also holding important supports. ETH corrected below USD 2,250, but the bulls protected USD 2,200. XRP is also holding the USD 0.65 support and it could start a fresh increase.
Total market capitalization
After struggling to stay above USD 34,000, bitcoin price extended its decline. BTC even traded below the USD 33,500 support, but the bears struggled near USD 33,200. A fresh base seems to be forming above the USD 33,200 level. The price is now rising and is approaching USD 34,500, above which it could even surpass USD 35,000.
An initial support on the downside is near the USD 33,500 level. The key breakdown support is now forming near the USD 33,200 level.
Ethereum price corrected lower below the USD 2,300 level. ETH even traded below USD 2,250, but it found a strong support near USD 2,200 and jumped above the USD 2,300 and USD 2,320 resistance levels.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is back above the USD 300 level. If BNB remains stable above USD 300, there are chances of a steady increase towards USD 325. Any more gains could set the pace for a move towards the USD 350 level. Conversely, the price could revisit USD 280.
Litecoin (LTC) is consolidating near the USD 140 level. An immediate support is near the USD 135 level, below which the price might test USD 128. On the upside, the main resistance is still near USD 150. A close above USD 150 might push the price in the near term.
Dogecoin (DOGE) failed to settle above the USD 0.250 resistance zone. It started a fresh decline and it traded below the USD 0.238 support before rallying back above USD 0.242.
XRP price is holding the key USD 0.650 support zone. If XRP trades below USD 0.650, it could gain bearish momentum. The next major support is near USD 0.620. Conversely, there are chances of a move towards the USD 0.700 level.
Other altcoins market today
Many altcoins gained over 8%, including KCS, SNX, AAVE, COMP, SUSHI, EGLD, RUNE, LEO, LUNA, and ATOM. Out of these, KCS rallied over 45% and it cleared the USD 10 pivot level.
Overall, bitcoin price is moving higher above the main USD 33,200 support zone. As long as BTC stays above USD 33,200, it could revisit USD 35,000 or even USD 36,000 in the coming sessions.