Bitcoin, Ethereum, and Altcoins Eye Additional Gains
Bitcoin price is showing positive signs and it might surpass USD 55,000. Ethereum is holding gains above USD 1,800, XRP might jump above USD 0.500. CHZ extended its rally and cleared USD 0.290.
Bitcoin price remains in a bullish zone and it recently climbed above the USD 54,000 resistance. BTC tagged the USD 54,500 level and it seems like the bulls might test USD 55,000. The current (12:30 PM UTC) price action is positive, with a major support near USD 52,000.
Similarly, most major altcoins are showing signs of more possible gains. ETH corrected a few points, but the bulls were active above the USD 1,800 level. XRP/USD is also holding gains above USD 0.480 and it could soon climb above USD 0.500.
Total market capitalization
There was an upside extension in bitcoin price above the USD 54,000 and USD 54,200 levels. BTC tested the USD 54,500 level and it seems like the bulls might test USD 55,000. If there is a clear break above the USD 55,000, the price could accelerate higher towards the USD 56.500 level.
On the downside, the USD 53,200 level is a decent support. The key support is now forming near the USD 52,000 level (resistance turned support).
Ethereum price corrected lower from USD 1,860, but it remained well bid above the USD 1,800 level. ETH is currently consolidating above USD 1,800 and it could revisit the USD 1,850 level. A close above the USD 1,850 level might clear the path for a move towards the USD 1,900 level.
If there is a fresh decline, the bulls might protect USD 1,800 and USD 1,780. The next major support is near the USD 1,750 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is back up over 10% and it rallied above the USD 250 resistance level. BNB surged above USD 265 and USD 270 levels. The next major stop for the bulls could be near the USD 282 level. On the downside, the price could remain strong above USD 250.
Cardano (ADA) is up over 5% and it is trading above the USD 1.150 level. ADA is showing positive signs, but it must settle above USD 1.200 for a sustained upward move. The next major resistance is near the USD 1.250 level.
Litecoin (LTC) spiked above the USD 200 level, but it must settle to start a sustained upward move. If LTC settles above USD 200 and gains pace above USD 205, it could rise towards the USD 220 and USD 225 resistance levels.
XRP price is consolidating above the USD 0.480 pivot level. The key barrier for the bulls is near the USD 0.500 level. A clear break above USD 0.500 could open the doors for a move towards the USD 0.550 and USD 0.565 levels. On the downside, there is a major support at USD 0.450.
Other altcoins market today
Many altcoins climbed over 10%, including CHZ, LUNA, NEAR, MANA, QNT, CHSB, CAKE, ONT, UMA, HBAR, TFUEL, GRT, 1INCH, FTT, MATIC, NANO, CRV, and DASH. Out of these, CHZ is up over 70% and it is approaching USD 0.300.
To sum up, bitcoin price is gaining bullish momentum and it might clear the USD 55,000 resistance level. If BTC settles above USD 55,000, the price could accelerate towards USD 56,500.