Bitcoin Struggling While Altcoins Climb Higher
Bitcoin price is struggling and recently broke the USD 10,250 support level. Ethereum tested the USD 200 resistance and ripple broke the USD 0.262 resistance. ABBC coin and VET are up more than 8% today.
Yesterday, there was a minor decline in bitcoin price below the USD 10,250 support. BTC/USD is now trading below the USD 10,200, with a few bearish signs. On the other hand, a few major altcoins climbed higher, including ethereum, ripple, BCH, litecoin, cardano and TRX. ETH/USD is up around 2% and it recently tested the USD 200 barrier. More importantly, XRP/USD gained momentum above the USD 0.262 resistance and even spiked above the USD 0.265 hurdle. Overall, altcoins are showing positive signs and they might continue to recover. On the other hand, BTC is facing selling interest and it could revisit the USD 10,050 and USD 10,000 levels.
Total market capitalization
The bears managed to push bitcoin price below the USD 10,250 support area. BTC/USD even touched the USD 10,000 support area and it recently recovered above USD 10,150. However, the price is struggling to climb above the USD 10,250 and USD 10,300 resistance levels.
The price is now (08:00 UTC) trading near USD 10,200 and it seems like it could resume its decline. The mains supports on the downside are near USD 10,050, USD 10,000 and USD 9,920, below which the bulls might struggle to contain decline.
Ethereum price is remained in a positive zone and extended its rise above the USD 192 and USD 195 levels. ETH/USD even tested the USD 200 resistance area and it is currently trading in a range.
It seems like the bulls might soon attempt to clear the USD 200 and USD 202 resistance levels. If they succeed, the next stop might be USD 220. Conversely, if there is a downside correction, the price could test the USD 192 or USD 190 support.
Bitcoin cash, eos and ripple price
Bitcoin cash price is holding the USD 305 and USD 300 support levels. BCH/USD is climbing and it seems like it could soon break the USD 310 and USD 315 levels. The main resistance on the upside is near the USD 325 level. If there is a correction, the USD 300 level might play an important role.
EOS tested the USD 4.150 level and recently corrected lower. However, the price is holding the USD 4.000 support level, below which it could correct towards the USD 3.800 support. On the upside, a break above USD 4.150 might push the price towards USD 4.350.
Ripple price is finally moving higher and it recently broke the key USD 0.262 resistance area. XRP/USD even surpassed the USD 0.265 level and it seems like the bulls are now eyeing a test of the USD 0.272 and USD 0.275 resistance levels. The next key hurdle is near the USD 0.280 level.
Other altcoins market today
Recently, a few small cap altcoins started an upward move and gained more than 5%, including ABBC, VET, SNX, KNC, ETP and DRG. On the other hand, KCS, ZIL, ALGO, ATOM and MONA dipped more than 5%.
Overall, bitcoin price is correcting lower and it might revisit the USD 10,000 support area. If BTC/USD fails to stay above USD 10,000, it could extend its decline towards USD 9,500. Conversely, ETH and XRP might recover further in the near term.