Bitcoin Consolidates While Ethereum and Altcoins Eye Additional Gains
- Bitcoin price is consolidating below the USD 34,500 and USD 35,000 resistance levels.
- Ethereum is up 5% and is eyeing a break above USD 1,400, XRP is back below USD 0.400.
- FUN, BAND, SUSHI, and LUNA are up over 30%.
Bitcoin price is consolidating above the USD 33,000 and USD 32,200 support levels. On the upside, BTC is facing a strong resistance near the USD 34,500 and USD 35,000 levels. It is currently (05:00 UTC) showing positive signs, but it must settle above USD 35,000 for a steady increase.
Conversely, most major altcoins are slowly gaining bullish momentum. ETH/USD cleared the USD 1,350 resistance and it seems like the bulls are aiming for more gains above USD 1,400 and USD 1,420. On the other hand, XRP/USD failed to stay in the bullish territory and it declined below USD 0.400.
Total market capitalization
In the past few sessions, bitcoin price mostly consolidated above the USD 32,200 and USD 33,000 support levels. On the upside, the first key resistance is near the USD 34,500 level. The main resistance is now forming near the USD 35,000 level. A close above the USD 35,000 level might open the doors for a sustained upward move.
On the downside, the USD 33,200 level is a decent support. The next major support is at USD 33,000, below which the price could slide towards the USD 32,200 support zone.
Ethereum price is rising steadily and it is trading above the USD 1,350 resistance. An immediate resistance is near the USD 1,400 zone. The next key resistance is near the USD 1,450 level. A clear break above the USD 1,450 level may possibly call for a fresh rally towards USD 1,500 and USD 1,550.
If there is no break above USD 1,400 and USD 1,450, the price could correct lower. An initial support is near the USD 1,350 level. The next major support sits at USD 1,320.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is trading above the USD 405 and USD 400 support levels. BCH might start a fresh increase towards the USD 440 and USD 450 resistance levels. If not, there is a risk of a sharp decline below the USD 400 and USD 385 support levels in the near term.
Litecoin (LTC) is consolidating above the USD 130 level. An initial resistance for LTC is near the USD 138 level. The first key resistance is USD 142, above which the bulls might test the USD 150 level. On the downside, the USD 130 level could provide support.
XRP price spiked towards the USD 0.7500 level before starting a major decline. It trimmed most of its gains and even traded below USD 0.400. The first major support is at USD 0.350. The main support is now forming near the USD 0.300 level, which acted as a crucial hurdle in the past few weeks.
Other altcoins market today
Many altcoins gained over 10%, including FUN, BAND, SUSHI, CAKE, LUNA, NEXO, XEM, AMPL, ADA, BNB, VET, SOL, QNT, THETA, OMG, CRV, XVG, and ATOM. Out of these, FUN surged 50% and traded above the USD 0.0420 level.
Overall, bitcoin price is slowly moving higher, but it is facing a major resistance near USD 35,000. Besides, ETH is gaining momentum and it could accelerate above USD 1,400 and USD 1,450.