Bitcoin Holds Steady Above USD 30K, Ethereum and Altcoins Gain Traction
Bitcoin price is consolidating above USD 30,500 and USD 31,000. Ethereum is attempting a strong recovery above USD 1,300, XRP is likely to revisit USD 0.285. DOGE surged over 50%, 1INCH is gaining momentum above 3.00.
Bitcoin price is stable above USD 30,500 and USD 31,000. BTC is currently (13:00 UTC) attempting an upside break above USD 31,800 and USD 32,000. A close above USD 32,000 could open the doors for a larger increase in the coming sessions.
Besides, most major altcoins are showing signs of a fresh increase, including ethereum, EOS, XRP, XLM, LINK, BNB, OMG, NEO, TRX, bitcoin cash, DOT, litecoin, and ADA. ETH/USD is back above USD 1,300 and it seems like the bulls are aiming for a break above USD 1,350. XRP/USD is trading above USD 0.255 and it is likely to climb towards USD 0.285 or USD 0.292.
Total market capitalization
In the past two sessions, bitcoin price traded in a range above the USD 31,000 support zone. BTC is slowly moving higher towards the USD 32,000 resistance level. The next key resistance is near the USD 32,400 level, above which the bulls are likely to target a 5%-8% move in the near term.
If there is no clear break above USD 32,000 and USD 32,400, there are chances of a fresh decline. An initial support is near the USD 31,000 level. The main support is now forming near the USD 30,000 level, below which the price could dive towards USD 29,200.
Ethereum price is slowly gaining bullish momentum above USD 1,280. ETH even surpassed the USD 1,300 level and it is likely to continue higher. The next key resistance sits near USD 1,350. A close above USD 1,350 may possibly spark a sharp rally in the coming sessions.
If ETH fails to stay above USD 1,300, it could correct lower. An initial support is near USD 1,285. The key support for the current wave is near the USD 1,250 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is struggling to clear the USD 400 and USD 405 resistance levels. If BCH settles above USD 405, there could be a slow and steady rise towards the USD 432 and USD 435 levels. On the downside, the USD 385 level is a short-term support, followed by the USD 370 level.
Litecoin (LTC) is up 4% and it is testing the USD 130 level. An immediate resistance is near USD 132. If there are more upsides, the bulls might aim a test of the USD 140 resistance level. On the downside, the USD 125 level is a decent support, followed by the USD 118 zone.
XRP price remained stable and it recovered above the USD 0.255 level. If it clears the USD 0.265 resistance, there could be a drift towards the USD 0.285 and USD 0.292 resistance levels. The main hurdle on the upside is still near the USD 0.300 level.
Other altcoins market today
In the past few hours, many altcoins gained over 10%, including DOGE, 1INCH, LUNA, EGLD, CHSB, ZEN, RUNE, QNT, ALPHA, KSM, SC, ATOM, LINK, and FTM. Out of these, DOGE grabbed the market's attention with a massive rally above USD 0.014.
To sum up, the bitcoin price is stable above USD 31,000, but it must clear the USD 32,000 and USD 32,500 resistance levels. If not, there is a risk of a fresh drop to USD 30,000.