31 May 2021 · 2 min read

Bitcoin and Ethereum Move Higher, XRP Returns Above USD 1

Bitcoin price broke the USD 36,500 resistance zone. Ethereum climbed above USD 2,550, XRP rallied 14% and it cleared USD 1.0. GRT is gaining pace above USD 0.75, DCR gained almost 14%.

Bitcoin price remained stable above the USD 34,000 support zone. As a result, BTC started a steady recovery above the USD 35,500 resistance. It even surpassed the USD 36,500 level and it is currently (12:20 PM UTC) showing signs of a possible move towards the USD 38,500 resistance.

Besides, most major altcoins are showing signs of a recovery. ETH gained pace and it was able to clear the USD 2,550 resistance. XRP/USD broke many hurdles near the USD 0.950 and USD 1.00 levels.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After a fresh decline, bitcoin price found support near the USD 34,000 level. BTC started a decent upward move and it gained pace above the USD 35,500 level. The bulls were able to clear the USD 36,500 resistance. It has opened the doors for a push towards the USD 38,500 resistance. Any more gains could lead the price towards the USD 40,000 resistance.
An immediate support is near the USD 36,200 level. The first key support is near the USD 35,500 level, below which the price might revisit the USD 34,000 support zone.

Ethereum price

Ethereum price gained pace after it broke the USD 2,450 resistance. ETH cleared the USD 2,500 and USD 2,550 resistance levels. If the bulls remain in action, the price might visit the USD 2,650 level.
On the downside, the USD 2,500 level is an immediate support. The next major support is now forming near USD 2,450.

BNB, LTC, DOGE, and XRP price

Binance Coin (BNB) broke the USD 325 resistance level to start a decent increase. BNB cleared the USD 345 and USD 350 resistance levels. The price is now showing positive signs and it could rise steadily towards the USD 365 and USD 370 levels.
Litecoin (LTC) is rising and it has surpassed the USD 180 level. LTC might continue to rise, but there are many important hurdles waiting near the USD 195 and USD 200 levels. A clear break above USD 200 could push the price higher in the near term.
Dogecoin (DOGE) remained stable above the USD 0.280 level before it moved higher and cleared the USD 0.300 and USD 0.312 levels. It seems like the bulls might attempt more gains above USD 0.320. The next major stop for them could be near the USD 0.350 level.
XRP price started a strong rally and it broke many hurdles near the USD 0.950 and USD 1.00 levels. The price is now consolidating above USD 1.00 and it could rise towards the next key stop at USD 1.10.

Other altcoins market today

A few altcoins climbed over 8%, including GRT, DCR, XDC, AAVE, CHSB, SOL, CRO, SUSHI, LEO, CAKE, TEL, and TFUEL. Out of these, GRT is up over 15% and it broke the USD 0.78 level.

To sum up, bitcoin price is showing positive signs above USD 36,500. If BTC breaks the USD 38,500 barrier, it could open the gates for a larger upward move in the near term.

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