Bitcoin Price, Altcoins Could Attempt Fresh Increase
- Bitcoin price is consolidating above the USD 8,100 support area.
- Ethereum is facing hurdles above USD 175 and ripple is gaining momentum above USD 0.295.
- Bitcoin SV (BSV), THETA and BCN are up more than 10% today.
Recently, bitcoin price managed to recover above the USD 8,000 and USD 8,100 levels. BTC/USD even climbed above the USD 8,200 resistance area, but it seems like the bulls are struggling to gain momentum above the USD 8,250 and USD 8,300 levels. Similarly, ethereum, EOS, bitcoin cash, litecoin, binance coin, ADA and XLM are facing many important hurdles. On the other hand, ripple performed well and it recently revisited the USD 0.300 region. XRP/USD remains well supported and it could continue to rise in the near term towards USD 0.305. ETH/USD seems to be consolidating above USD 172, but it is struggling to gain bullish momentum above USD 175 and USD 178.
Total market capitalization
After a successful close above USD 8,100, bitcoin price made another attempt to surpass the USD 8,250 and USD 8,300 resistance levels. However, BTC/USD failed to gain strength and topped near the USD 8,300 level. The price is currently (08:00 UTC) consolidating near USD 8,200, with supports on the downside near USD 8,150 and USD 8,100.
On the upside, an immediate resistance is near the USD 8,250 level. The key resistance is close to USD 8,300, above which the price could recover towards the USD 8,400 and USD 8,440 levels.
Ethereum price is still struggling to rebound above the USD 178 and USD 180 resistance levels. ETH/USD is currently trading below USD 175, with an immediate support at USD 172. If there is a downside break, the price might revisit USD 165.
On the upside, an immediate resistance is near USD 175. Having said that, the price must settle above USD 180 to start a strong upward move in the coming days.
Bitcoin cash, eos and XRP price
Bitcoin cash price popped more than 3% to move into a positive zone. BCH/USD cleared the USD 230 resistance and now it could test the USD 240 resistance. If it fails to continue higher, there may possibly be a downside correction towards the USD 215 level.
EOS is slowly moving higher towards the USD 3.000 resistance area. The price must surpass the USD 3.000 and USD 3.050 resistance levels to move back into a positive zone. If not, it is likely to resume its decline towards the USD 2.850 and USD 2.800 support levels in the near term.
XRP price remained in an uptrend above the USD 0.275 pivot level. XRP/USD gained more than 3% today and it climbed above the USD 0.295 resistance. The price tested USD 0.300 and it is currently consolidating gains. On the upside, the main hurdles are near USD 0.301, USD 0.302 and USD 0.305.
Other altcoins market today
Recently, a few small capitalization altcoins recovered and climbed more than 5%, including BSV, THETA, BCN, SNX, RIF, NEW and NRG. Out of these, BSV rallied more than 15% and THETA is up close to 12%.
Overall, bitcoin is trading above the USD 8,100 and USD 8,150 support levels. However, BTC/USD must gain momentum above USD 8,300 to continue higher. If not, it could retreat to USD 8,000 or even USD 7,850.