Bitcoin Eyes USD 60K Again, Ethereum and Altcoins Surge
Bitcoin price is gaining momentum towards the USD 60,000 resistance. Ethereum is trading above USD 1,800, XRP is rising towards USD 0.600. HOT rallied over 30%, and DENT gained over 25%.
Bitcoin price is showing positive signs above USD 57,000. BTC broke the USD 58,000 and USD 58,500 resistance levels. It is currently (12:30 UTC) trading above USD 59,000 and it might soon aim for a test of USD 60,000.
Similarly, most major altcoins are rising steadily. ETH is back above USD 1,800 and it could attempt an upside break above USD 1,850. XRP/USD is gaining momentum and it might soon attempt to clear USD 0.585 and USD 0.600.
Total market capitalization
After forming a fresh support base above USD 57,000, bitcoin price restarted its rise. BTC broke the USD 58,000 and USD 58,500 resistance levels. The price even spiked above USD 59,000 and it seems like the bulls are aiming for a test of the USD 60,000 level. If there are more upsides, the price might trade to a new all-time above USD 62,000.
On the downside, the USD 58,500 level is a short-term support. The first key support is now forming near the USD 58,000 level, below which it could test USD 57,200.
Ethereum price is gaining momentum above the USD 1,800 resistance. ETH traded above USD 1,820 and it might clear the USD 1,850 resistance zone. The next key resistance above USD 1,850 could be near the USD 1,920 level.
An initial support on the downside is near the USD 1,810 and USD 1,800 levels. The main support is now forming near the USD 1,750 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is up around 8% and it broke many hurdles near USD 280. BNB is approaching the USD 300 level. If there is a daily close above USD 300, there are chances of an increase towards the USD 335 and USD 340 levels in the near term.
Cardano (ADA) cleared the USD 1.200 resistance and it is attempting a close above USD 1.220. If the bulls remain in action, the price might reach the USD 1.285 and USD 1.300 levels. On the downside, the USD 1.168 and USD 1.150 levels are important supports.
Litecoin (LTC) is again attempting an upside break above the USD 200 resistance. If LTC settles above USD 200, it could start a fresh rally towards the USD 225 and USD 240 resistance levels. An intermediate resistance may possibly be near USD 232.
XRP price formed a support base above USD 0.550 and it is slowly rising. The price is approaching the USD 0.585 level. The main resistance is still near USD 0.600, above which the price could surge towards the USD 0.635 and USD 0.650 levels.
Other altcoins market today
Many altcoins gained over 10%, including HOT, DENT, CELO, FTM, HT, RUNE, ZRX, OKB, ICX, SOL, RSR, OMG, COMP, NEXO, and ALGO. Out of these, HOT is accelerating gains above the USD 0.0150 level.
To sum up, bitcoin is gaining pace above the USD 58,000 and USD 58,500 levels. The overall price action is positive, suggesting a possible fresh test of USD 60,000 in the near term.