Bitcoin Probing Crucial Resistance While Altcoins Start Rising
Bitcoin price is still struggling to surpass the USD 6,800 and USD 6,850 resistance levels. Ethereum is trading above USD 135 and XRP rallied above the USD 0.170 resistance. QNT, MKR, CHZ, and REN are up more than 10% today.
In the past few sessions, bitcoin price remained well bid above the USD 6,500 support level. However, BTC/USD is still facing a strong barrier near the USD 6,800 and USD 6,850 resistance levels. The price is trading (08:30 UTC) in a range below USD 6,850 and it seems to be preparing for the next major move.
On the other hand, there were many bullish signs emerging for major altcoins, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. XRP/USD rallied more than 8% and broke the key USD 0.170 resistance. Besides, ETH/USD may soon attempt an upside break above USD 140.
Total market capitalization
Recently, bitcoin price made another attempt to surpass the USD 6,800 and USD 6,850 resistance levels, but it failed. BTC/USD retreated from the USD 6,850 zone and it is currently trading near USD 6,650. If there are more downsides, the price could test the USD 6,550 and USD 6,500 support levels.
On the upside, the bulls need to gain pace above the USD 6,800 and USD 6,850 resistance levels to set the pace for a sustained upward move above USD 7,000 in the near term.
Ethereum price is still stuck in a key range below the USD 140 and USD 142 resistance levels. If ETH/USD climbs above USD 142, there are high chances of a strong rise towards the USD 150 and USD 155 resistance levels.
On the downside, the first key support is near the USD 135 level, below which it could test USD 130. The main support for the current trend is seen near the USD 125 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is showing a lot of positive signs and it is slowly rising towards the key USD 230 resistance. A successful break and follow up move above the USD 230 barrier could spark a solid rally. The next major hurdles are seen near the USD 240 and USD 250 levels. On the downside, a major support is forming near the USD 220 level.
Litecoin is up around 4% and it surpassed the USD 38.50 and USD 40.00 resistance levels. LTC/USD is showing positive signs and it could rise above the USD 41.20 resistance. Any further gains may perhaps push the price towards the USD 44.50 levels. On the downside, the USD 38.50 level is now likely to provide support.
XRP price performed well today and it gained more than 8%. There was a clear break above the USD 0.164 and USD 0.170 resistance levels. The price tested the USD 0.180 area and it is currently correcting gains. On the downside, the previous resistances near USD 0.170 and USD 0.165 are now likely to act as supports.
Other altcoins market today
In the past three sessions, many small-capitalization altcoins jumped more than 5%, including QNT, MKR, CHZ, REN, SNT, VET, ELF, BTM, THETA, NMR, ENJ, BNB, REP, and DGB. Out of these, QNT gained more than 35% and MKR is up close to 20%.
Overall, bitcoin price is still trading in a crucial range between USD 6,500 and USD 7,000. A successful close above the USD 7,000 resistance will most likely start a strong rise. If not, it could dive towards USD 6,200 and USD 6,000.