A quick 3min read about today's crypto news!
Bitcoin price remained well bid above the USD 61,200 support zone. BTC is currently (11:59 UTC) trading above USD 62,000 and it might aim for a clear upside break. A close above USD 63,000 might spark a stronger increase.
Besides, most major altcoins are stuck below important hurdles. ETH is facing resistance near USD 3,850 and USD 3,880. XRP could gain pace if there is a clear break above USD 1.12 and USD 1.15. ADA is trading well below the USD 2.20 resistance.
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In the past two sessions, bitcoin price remained well bid above the USD 61,200 pivot level. BTC climbed back above USD 62,000, but it is facing a few key hurdles. An immediate resistance is near the USD 62,800 level. The next major resistance is near USD 63,200 and USD 63,500. A break above USD 63,500 might push the price towards the USD 65,000 level.
On the downside, an initial support is near USD 61,800. The first major support is near USD 61,200, below which the price might test the USD 60,500 level.
Ethereum price struggled to clear the USD 3,850 and USD 3,880 resistance levels. A clear break above USD 3,880 could set the pace for a steady increase. The next major stop for the bulls may be USD 4,000. An intermediate resistance could be USD 3,950.
On the downside, an initial support is near the USD 3,750 level. The next major support is near USD 3,650, below which there is a risk of a larger downside correction.
Cardano (ADA) is facing an uphill task near the USD 2.18 and USD 2.20 levels. A close above USD 2.20 may possibly spark a stronger increase. The next major resistance is near USD 2.32. If not, the price might test the USD 2.00 support zone.
Litecoin (LTC) spiked above the USD 188 resistance. It is now facing hurdle near USD 192. A follow up move above USD 192 could set the pace for a larger increase. On the downside, the price might find support near the USD 182 and USD 180 levels.
Dogecoin (DOGE) trimmed gains and traded below the USD 0.250 level. An immediate support is near the USD 0.232 level. Any more losses might call for a test of USD 0.220. On the upside, the USD 0.265 level is a major hurdle before a move towards the USD 0.280 resistance.
XRP price is struggling to clear the USD 1.12 resistance level. The USD 1.15 level is also a key barrier ahead of USD 1.20. If there is a bearish reaction, the bulls might struggle to keep the price above the USD 1.00 support zone.
A few altcoins gained over 5%, including OKB, FTM, ONE, KSM, ZEC, NEXO, ZEN, ATOM, DCR, SHIB, and WAVES. Out of these, OKB rallied almost 19% and broke the USD 19 level.
To sum up, bitcoin price is facing resistance near USD 63,000. If BTC settles above USD 63,000, it could start a steady increase towards the USD 65,000 level in the near term.