Bitcoin and Ethereum Inch Higher, XRP and MATIC Surge
Bitcoin price seems to be forming a strong support base above USD 42,000. Ethereum rose above USD 3,400, XRP gained 10% and surpassed USD 1.515. MATIC rallied around 30% and AAVE is up 25%.
Bitcoin price remained stable above the main USD 42,000 support zone. BTC is currently (04:30 UTC) recovering and trading above USD 45,000. To continue higher, a decent close above USD 45,500 is a must in the short-term.
Similarly, most major altcoins are slowly moving higher. ETH is stable above USD 3,200 and it eyes an upside break above USD 3,450. XRP/USD performed well and it settled above USD 1.50. MATIC also gained bullish momentum and cleared the USD 2.00 hurdle.
Total market capitalization
After another decline, bitcoin price found a strong support near the USD 42,200 zone. BTC seems to be forming a base above the USD 42,000 level. The price is now recovering higher and trading above the USD 45,000 level. An immediate resistance is near the USD 45,500 level. The next major resistance for a larger increase is near the USD 46,500 level.
If there is a fresh decline, an initial support is near the USD 43,200 level. The key support is now forming near the USD 42,200 zone.
Ethereum price is also following a similar pattern to bitcoin. ETH is forming a base above the USD 3,120 and USD 3,150 levels. It corrected above the USD 3,350 level. The first key resistance is near the USD 3,450 level. The main breakout resistance is now forming near the USD 3,500 level.
On the downside, an initial support is near the USD 3,320 level. The first key support is near the USD 3,200 level, below which the price could revisit USD 3,120.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is stable above the USD 500 level and it is attempting a close above the USD 525 level. If there is a steady increase, the bulls could test USD 550. Any more gains could set the pace for a move towards the USD 600 barrier.
Litecoin (LTC) is up over 15% and it broke the USD 285 and USD 300 resistance levels. It seems like the bulls are back and they are aiming for a break above the USD 315 and USD 320 resistance levels. If there is a downside correction, the price might find bids near USD 285.
Dogecoin (DOGE) is consolidating near the USD 0.500 pivot level. If there is a short-term dip, the bulls might remain active near USD 0.465. On the upside, a close above USD 0.520 may possibly spark a strong upward move.
XRP price gained momentum and it settled above the USD 1.50 resistance. It is trading above USD 1.515 and it could soon clear the USD 1.532 resistance. The next major resistance is near USD 1.55, above which the price could revisit USD 1.60.
Other altcoins market today
Many altcoins gained over 10%, including MATIC, AAVE, KSM, SNX, YFI, NANO, THETA, HNT, SUSHI, CELO, COMP, ONE and CEL. Out of these, MATIC and AAVE are up 30% and 20% respectively.
Overall, bitcoin price is showing a few positive signs above the USD 45,000 level. Having said that, BTC must surpass USD 45,500 and USD 46,500 to start a steady increase.