Bitcoin Facing Uphill Task Near USD 10,000, Altcoins Stable
Bitcoin price tested the USD 10,000 resistance zone and corrected lower. Ethereum and XRP settled above the USD 200 and USD 0.200 pivot levels respectively. OMG rallied more than 35% and ZIL is up close to 18% today.
Bitcoin price followed a bullish path after it settled above the USD 9,500 resistance. BTC/USD broke a couple of major hurdles near USD 9,800, but it faced an uphill task near the USD 10,000 resistance zone. As a result, there was a downside correction and the price is currently (08:30 UTC) consolidating above USD 9,500.
Also, most major altcoins are trading in a positive zone, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD settled above USD 200, but it must clear USD 205 for upside continuation. XRP is also trading above USD 0.200, but it is struggling near the USD 0.205 resistance zone.
Total market capitalization
After a steady rise, bitcoin price faced sellers near the USD 9,980 and USD 10,000 levels. As a result, there was a sharp downside correction below USD 9,800. The price even spiked below USD 9,500, but it found support near the USD 9,200 level. It is now consolidating above the USD 9,500 level, with key hurdles on the upside at USD 9,800 and USD 10,000.
To continue higher, the price must settle above the USD 10,000 resistance. If not, there are chances of another decline towards USD 9,200 or even USD 9,000.
Ethereum price settled above the USD 198 and USD 200 resistance levels. However, ETH is facing a major resistance near the USD 205 level, above which the price might grind higher towards the USD 220 level in the near term.
On the downside, an initial support is near the USD 198 level. Any further losses could push the price below the USD 195 level and it could revisit the USD 192 support.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price spiked above the USD 240 resistance, but it is still facing hurdles near the USD 245 and USD 250 levels. If BCH continues to struggle near the USD 250 resistance, it could decline towards the USD 230 support. The next major support is seen near the USD 220 level.
Litecoin is trading above the USD 43.20 resistance and it could continue to rise towards the USD 45.00 resistance. A successful close above the USD 45.00 resistance may perhaps start a strong move towards the USD 50.00 resistance. If the bulls fail, the price might decline back towards the USD 41.20 support zone.
XRP price is trading above the USD 0.200 pivot level and testing the USD 0.202 resistance. On the upside, the USD 0.205 level is acting as a strong barrier. If there is a close above the USD 0.205 level, there are high chances of a move towards the USD 0.212 and USD 0.220. Conversely, the price might revisit the USD 0.192 support.
Other altcoins market today
In the past three sessions, many smaller altcoins are up more than 5%, including OMG, ZIL, MIOTA, NRG, SEELE, UBT, LEND, THETA, MANA, ETN, HBAR, and RCN. Conversely, CRPT, ABBC, BCN, QNT, SNT, BHT, and DGB are down more than 5%.
Overall, bitcoin is facing a major resistance near the USD 10,000 zone. If BTC settles above USD 10,000 in the coming sessions, it could rally further. If not, there is a risk of a fresh decline to USD 9,200 and USD 9,000.