Bitcoin Rallies 6%, Altcoins Sighting Bullish Continuation
Bitcoin price followed a bullish path and surged above the USD 10,450 resistance. Ethereum is gaining momentum above USD 215 and ripple price could break USD 0.320. FST and NRG are up more than 15% today.
The past few sessions were positive, as bitcoin price followed a bullish path above the USD 10,000 resistance. BTC/USD broke the USD 10,200 resistance level and recently climbed above the USD 10,450 resistance. Similarly, there were decent gains in altcoins, including ethereum, ripple, bitcoin cash, binance coin, litecoin and EOS. ETH/USD broke the USD 215 resistance and it may soon gain traction above the USD 220 resistance. XRP/USD is moving higher and it might break the USD 0.320 resistance in the near term.
Total market capitalization
After a close above USD 10,000, bitcoin price gained bullish momentum. BTC/USD is up more than 5% and it broke the USD 10,200 and USD 10,450 resistance levels. The current (08:00 UTC) price action is positive and it seems like the price may aim the USD 10,650 resistance level in the near term. The next important resistance is near the USD 10,800 level.
Conversely, if there is a downside correction, the price might find support near the USD 10,300 level. The main support is now near the USD 10,200 level, which was a major resistance and it may now act as a buy zone.
Ethereum price is following bitcoin and it is rising steadily above the USD 215 resistance. It seems like ETH/USD could gain momentum above USD 220 and it may accelerate towards the USD 230 pivot level.
If the price fails to gain pace above USD 220, there could be a fresh decline. An initial support is near the USD 215 level, below which there is a risk of a downside break towards the USD 210 support.
Bitcoin cash, eos and ripple price
Bitcoin cash price is trading above the USD 320 support level. BCH/USD is up more than 2% and it seems like the bulls are aiming a fresh increase towards the USD 340 resistance. A successful break above the USD 340 resistance might push the price towards the USD 350 level.
EOS is still struggling below the USD 4.400 and USD 4.500 resistance levels. If there is no close above USD 4.500, the price could decline back towards the USD 4.050 and USD 4.000 support levels in the near term.
Ripple price revisited the USD 0.312 support level, where the bulls protected further losses. XRP/USD is currently moving higher, but facing a lot of hurdles near the USD 0.320 and USD 0.322 levels. A successful break above USD 0.322 is needed for more gains. If not, the price is likely to trade below the USD 0.312 support.
Other altcoins market today
In the past three sessions, many altcoins gained traction and climbed more than 8%, including FST, NRG, XTZ, REN, GRIN, BSV and XMX. Out of these, FST is up more than 18% and NRG gained nearly 16%.
Overall, bitcoin price is gaining pace above the USD 10,200 resistance level. The current price action is positive, suggesting more upsides in BTC/USD above the USD 10,500 and USD 10,600 levels. In the mentioned case, ETH, XRP and BCH might also rise steadily.