Bitcoin Crosses USD 10,000, More Gains Likely?
- Bitcoin price extended gains and moved above the USD 10,000 level.
- Bitcoin cash price is gaining upside momentum and it is trading 8% higher to USD 1,490.
- MonaCoin is doing well today (the best performer so far), with more than 15% gains.
The market sentiment improved further and it seems like buyers are slowly taking charge. There was no negative news or development, which helped cryptocurrencies and lifted the prices of bitcoin, Ethereum, litecoin, ripple and bitcoin cash. Technically, the current bias is bullish and further gains seem likely.
BitcoinBitcoin succeeded in surpassing the USD 10,000 level. BTC/USD traded above the USD 10,300 and formed a high at USD 10,323. Later, a downside correction was initiated and the price moved back below USD 10,000.
However, the current price action is positive with more than 1% intraday gains. The current price is USD 9,910 and the price is preparing for the next move. It may perhaps move above the USD 10,000 resistance once again.
On the downside, supports are at USD 9,800, 9,600 and 9,500. To the topside, a break above USD 10,300 could push the price towards USD 10,500.
Ethereum is trading 1.2% lower today. However, the ETH/USD pair was able to hold the USD 900 support. At the moment, the pair is struggling to move above the USD 945 and 950 resistance levels.
The stated resistance levels are crucial hurdles, and a break above USD 950 is required for a test of the all-important USD 1,000 level. Support on the downside are at USD 900 and 880.
Bitcoin Cash and Ripple
Bitcoin cash was one the best performing coins today. It is currently trading 8.10% higher from the USD 1,301 low. It moved above the USD 1,500 level, formed a high at USD 1,546 and later started a downside correction. BCH/USD is currently trading at USD 1,475 and it looks set for another push above USD 1,500.
Ripple was down 2.6% to USD 1.080. XRP/USD is struggling to move above the USD 1.15 and 1.20 resistance levels. In the short term, there could be ranging moves between USD 1.00 and 1.20.
Other Altcoins Market Today
Today’s best performer was MonaCoin, with 15% gains. There were other altcoins as well with similar gains such as NXT and VeChain. On the flip side, the recent best performers – U.CASH and WAX started a downside correction and moved down by 20% and 18% respectively.