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Bitcoin and Ethereum Rally, Major Altcoins Consolidate

Aayush Jindal
Last updated: | 2 min read

Bitcoin price rallied and settled above the USD 10,000 resistance. Ethereum surged above USD 300 and USD 320, XRP is consolidating above USD 0.215. ERD soared 50% and UBT is up around 8% today.

In the past 2-3 days, bitcoin price started a strong increase above USD 9,500. BTC gained more than 5% and broke a few key hurdles near USD 9,800 and USD 10,000. It even spiked above USD 10,200 and currently consolidating gains well above USD 10,000.
Similarly, ethereum surged and broke many hurdles near USD 300 and USD 320. Looking at most major altcoins, there are positive signs visible for XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. XRP/USD climbed towards USD 0.225 recently and it is currently (08:30 UTC) consolidating above the USD 0.215 support.

Total market capitalization


Bitcoin price

After a successful break above USD 9,800, bitcoin price extended its rise above the USD 10,000 resistance. BTC gained over 5% and it even spiked above USD 10,200. The price is currently correcting gains, with an immediate support near the USD 10,120 level.
The first major support is near the USD 10,020 and USD 10,000 level, below which it could test USD 9,800. On the upside, a break above the USD 10,250 level could open the doors for a push towards USD 10,500.

Ethereum price

Ethereum price rallied above the USD 280 and USD 300 resistance levels. ETH even climbed towards USD 330 and it is now correcting gains. An initial support is near the USD 320 level, followed by USD 316.
The main weekly support seems to be forming near the USD 300 level, where the bulls are likely to appear. On the upside, a clear break above the USD 330 level may perhaps call for a push towards the USD 350 level in the near term.

Bitcoin cash, ADA and XRP price

Bitcoin cash price was able to clear the USD 240 and USD 245 resistance levels. BCH even surpassed the USD 250 level and it is trading in a range. On the upside, the next set of hurdles is near the USD 258 and USD 262 levels. The next resistance could be USD 280. On the downside, the price might find support near USD 240.
ADA rallied sharply above the USD 0.125 and USD 0.130 resistance levels. ADA even climbed above USD 0.1500 level before it faced sellers near USD 0.155. It is currently correcting lower below USD 0.142, with an immediate support near USD 0.135. The next major support is near the USD 0.125 level.
XRP price finally gained pace above the USD 0.202 and USD 0.212 resistance levels. It pumped towards the USD 0.215 level. Recently, there was a downside correction below USD 0.220. However, the price is finding support near USD 0.215 and it might start a fresh increase towards USD 0.225 or even USD 0.230.

Other altcoins market today

In the past three sessions, a few small-capitalization altcoins gained over 5%, including ERD, UBT, BNT, HEDG, BTM, ETC, and CRO. Conversely, SXP, LEND, STX, SNX, LRC, COMP, ABBC, TOMO, and KNC are down more than 10%.

To sum up, bitcoin price is trading in an uptrend above USD 10,000. In the short-term, BTC might correct lower, but dips are likely to find bids near USD 10,000 or USD 9,800. On the upside, USD 10,500 is a major barrier for more gains.

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