Bitcoin and Ethereum Move Higher, Altcoins Remain Attractive
Bitcoin price is showing signs of a fresh increase above USD 57,000. Ethereum is stable above the USD 3,400 support, XRP is gaining pace above USD 1.58. EOS, LSK, OMG, and QTUM gained 20%-55%.
Bitcoin price remained stable above USD 55,000 and started an upward move. BTC broke the USD 56,500 resistance and it is currently (12:30 PM UTC) trading around this level. A close above USD 57,000 may possibly start a stronger increase.
Besides, most major altcoins are gaining pace. ETH tested the USD 3,350 support and climbed back above USD 3,400. XRP/USD is rising and it may clear the USD 1.60 resistance.
Total market capitalization
After a downside correction, bitcoin price remained well bid above USD 55,000. As a result, there was a fresh increase above the USD 56,000 level. BTC climbed above the USD 56,500 resistance and it could soon clear the USD 57,000 level. A successful close above USD 57,000 could set the pace for a strong increase.
On the downside, an initial support is near the USD 56,000 level. The key support is now forming near the USD 55,250 level.
Ethereum price extended its decline below the USD 3,400 level. ETH tested the USD 3,350 support zone before recovering higher. The price is now rising and trading above the USD 3,400 level. An immediate resistance is near the USD 3,500 level, above which the price could revisit USD 3,600.
If there is a fresh decline, the price could find bids near USD 3,400. The main support on the downside is near the USD 3,350 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is attempting a fresh increase above the USD 625 support. An initial resistance is near the USD 635 level, above which BNB might retest USD 650. Any more gains could open the doors for a steady increase towards the USD 680 level.
Litecoin (LTC) is stable above the USD 350 level. An immediate hurdle for the bulls is near the USD 365 level. A clear break above USD 365 might clear the path for a move towards USD 380. The next key hurdle is at USD 400. On the downside, the USD 335 level is a strong support zone.
Dogecoin (DOGE) remained well bid above the USD 0.50 level and it recently started a fresh increase. DOGE broke the USD 0.60 resistance and it is gaining pace. If it clears the USD 0.625 level, there could be a steady increase towards the USD 0.65 level.
XRP price found support near the USD 1.50 support. As a result, XRP started a fresh increase and it climbed above the USD 1.55 and USD 1.56 levels. The bulls are now aiming for a break above USD 1.60. If they succeed, the price could rise towards the USD 1.68 level.
Other altcoins market today
Many altcoins climbed over 12%, including QTUM, BCD, LSK, OMG, ETC, EOS, ONT, XVG, BTT, VET, XMR, ICX, TRX, IOST, AVAX, and NEO. Out of these, LSK rallied over 40% and it is now approaching the USD 10 level.
To sum up, bitcoin price is slowly rising towards the USD 57,000 level. If it succeeds at this level, BTC could aim for a break above the USD 58,000 and USD 58,500 resistance levels.