Bitcoin Gaining Bullish Momentum, Altcoins Outperform
Bitcoin price is rising steadily and may surpass USD 7,550 and USD 7,650. Ethereum is up more than 2% and approaching USD 140, while XRP is still below USD 0.200. MAID, BEAM, MOF, BCN, KNC and DOGE are up more than 10% today.
Bitcoin price is showing a lot of positive signs above the USD 7,350 and USD 7,400 resistance levels. Once BTC/USD settles above USD 7,550 and USD 7,650, it could set the stage for an upward move towards the USD 8,000 and USD 8,200.
Besides, most major altcoins are gaining traction and rising with a bullish bias, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD is approaching the USD 140 and USD 145 resistance levels. Moreover, XRP/USD could be eyeing an upside break above the USD 0.200 resistance area.
Total market capitalization
Recently, bitcoin price surged above the key pivot level and resistance area at USD 7,350. It has opened the doors for more upsides above USD 7,400 and USD 7,500 levels. The price is now (09:00 UTC) trading near the USD 7,550 resistance, above which it could test USD 7,650.
The next major weekly resistance is seen near the USD 8,000 level, above which there is mostly an open space up to USD 8,500. On the downside, an initial support is near the USD 7,400 level. The main weekly support is seen near the USD 7,350 level.
Ethereum price followed a bullish path and climbed above the key USD 135 resistance level. It has opened the doors for more gains in ETH/USD above the USD 138 and USD 140 resistance levels. The next major weekly resistance is near the USD 145 level.
On the downside, the previous resistance near the USD 135 and USD 132 levels may perhaps act as a support. If there is a downside break below the USD 130 weekly support, the price might turn bearish.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is performing well and it broke the key USD 225 resistance area. BCH/USD is up more than 6% and it is now trading above the USD 235 level. The next hurdles are seen near USD 242 and USD 245. If there is a downside correction, the USD 225 level might provide support.
Litecoin is gaining bullish momentum above the USD 42.50 resistance area. LTC/USD is up around 5% and it approaching the USD 45.00 resistance level. A clear break above the USD 45.00 barrier could set the momentum for a push towards the USD 46.50 and USD 47.20 levels.
XRP price is slowly rising above the USD 0.195 resistance level. Having said that, XRP/USD must surpass the USD 0.200 resistance level to start a strong rise. The next major resistance levels are seen near USD 0.205 and USD 0.208. On the downside, there are supports near USD 0.192 and USD 0.190.
Other altcoins market today
In the past three sessions, a few small capitalization altcoins gained traction and climbed more than 5%, including MAID, BEAM, MOF, BCN, KNC, DOGE, DASH, XMR, THETA, MIOTA, BSV, KCS and ONT. Out of these, MAID is up around 17% and BEAM rallied close to 15%.
Overall, bitcoin price is trading in a bullish zone above the USD 7,400 level and it might continue to rise. A daily close above the USD 7,550 and USD 7,650 resistance levels may perhaps open the doors for more gains towards USD 8,000 and USD 8,200.