Bitcoin, Ethereum, and Altcoins Remain In Uptrend
Bitcoin price is trading in an uptrend and it might rise to USD 62,000. Ethereum might accelerate higher towards USD 2,100, XRP is up 5%. HNT, SC, and EOS are up over 16%.
Bitcoin price is following a strong uptrend above USD 59,000. BTC is currently (12:00 PM UTC) trading near USD 60,000 and it might accelerate higher in the near term. The next major target for the bulls could be USD 62,000.
Similarly, most major altcoins are also gaining bullish momentum. ETH is trading above USD 2,000 and it might rise further towards USD 2,100. XRP/USD is showing positive signs and it could climb above the USD 0.600 resistance.
Total market capitalization
In the past two sessions, bitcoin price mostly traded in a positive zone above USD 59,000. BTC made an attempt to settle above USD 60,000, but it failed. It is now consolidating gains and it seems like it may soon attempt another close above USD 60,000. If the bulls succeed, the price might climb towards the USD 62,000 level.
If there is a downside correction, the price might find bids near USD 59,000 and USD 58,800. The next major support could be USD 58,000.
Ethereum price is gaining momentum and it even climbed above USD 2,000. The next major resistance is near USD 2,040, above which the price might rise towards the USD 2,100 level.
On the downside, an initial support is seen near the USD 1,975 level. The first key breakdown support is near the USD 1,950 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is holding gains above the USD 340 support level. It seems like BNB could accelerate higher above the USD 350 and USD 355 resistance levels. The next major stop for the bulls may possibly be near the USD 380 level.
Cardano (ADA) is rising and trading above USD 1.200. An immediate resistance is near the USD 1.220 level. If there is a close above USD 1.220, the price could climb higher. Conversely, there is a risk of a downside correction towards the USD 1.165 support zone.
Litecoin (LTC) settled above USD 200 and it is consolidating near the USD 205 level. It seems like LTC might continue higher towards the USD 225 resistance. The next major resistance is near the USD 240 level. On the downside, the USD 195 level is a decent support base.
XRP price is rising and trading near the USD 0.585 level. The main hurdle is near the USD 0.600 level. A successful close above the USD 0.600 level could set the pace for a strong increase towards the USD 0.632 and USD 0.650 levels.
Other altcoins market today
Many altcoins climbed over 8%, including HNT, SC, EOS, EGLD, ANKR, ZEC, SNX, GRT, DASH, HT, XLM, DENT, BSV, BTT, and ZIL. Out of these, SC gained 17% and it is trading above USD 0.032.
To sum up, bitcoin price is trading in an uptrend above USD 59,000 and USD 59,200. If BTC settles above USD 60,000, there could be a rally towards the USD 62,000 level.