Bitcoin Eyes Fresh ATH, Ethereum and Altcoins Show Positive Signs
Bitcoin price is rising steadily and it could possibly trade to a new all-time high above USD 59K. Ethereum is consolidating above USD 1,775 and USD 1,800, XRP is stable near the USD 0.450 support. SKL, MATIC, CHZ, TFUEL, and ZIL are up over 25%.
Bitcoin price is following a bullish path above the USD 55,000 pivot level. BTC even broke the USD 58,000 resistance before correcting lower. It is currently (05:00 UTC) trading above USD 56,000 and it might continue higher towards USD 60,000.
Besides, most major altcoins are holding important supports. ETH moved back above the USD 1,800 level. XRP/USD spiked below the USD 0.450 support, but downsides were limited.
Total market capitalization
In the past three sessions, bitcoin price saw a steady increase above the USD 56,000 and USD 57,500 levels. BTC even broke the USD 58,000 resistance before correcting lower. It corrected below the USD 57,000 level, but it is stable above USD 56,000. The main support is now forming near the USD 55,000 level.
On the upside, the USD 58,000 level is a key barrier. A convincing move above the USD 58,000 resistance could open the doors for a move towards the USD 60,000 level.
Ethereum price tested the USD 1,725 support before recovering higher. ETH climbed back above the USD 1,775 and USD 1,800 levels. The price is now facing resistance near the USD 1,835 and USD 1,840 levels.
If there is a clear break above the USD 1,840, the bulls might aim for a steady increase towards USD 1,900 and USD 1,920. On the downside, the USD 1,750 could act as a strong support.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is consolidating above the USD 272 support level. It seems like BNB is setting up for a fresh rally above the USD 295 and USD 300 resistance levels. Conversely, the price could correct lower towards the USD 265 support in the near term.
Cardano (ADA) is facing a major resistance near the USD 1.150 and USD 1.200 levels. If ADA remains below USD 1.200 for a long time, there is a risk of a sharp decline. In this case, there are chances of a drop below the USD 1.050 and USD 1.000 support levels.
Litecoin (LTC) is up over 5% and it is now trading above the USD 200 resistance level. LTC is showing positive signs and it may soon climb above the USD 215 and USD 220 levels. The next major resistance sits near the USD 240 level. If there is no break above USD 220, the price could dip to test USD 195.
XRP price is struggling to recover above USD 0.465. It even spiked below the USD 0.450 level, but losses were limited. The price is consolidating near USD 0.450 and it might be preparing for the next major move either towards USD 0.550 or down, towards USD 0.365.
Other altcoins market today
Many altcoins gained over 8%, including SKL, MATIC, CHZ, TFUEL, ZIL, NEAR, ENJ, CRO, SOL, VET, THETA, KSM, DGB, MANA, and HBAR. Out of these, SKL jumped over 100% and it moved into the top 100 league.
Overall, bitcoin price is showing signs of more possible upsides above USD 57,500 and USD 58,000. As long as BTC is above USD 55,000, there could be a rally towards the USD 60,000 level.