Bitcoin Stuck Near USD 9,300 While XRP, BNB and ADA Rally
Bitcoin price is consolidating near the USD 9,300 resistance. Ethereum is trading near USD 240 and XRP rallied 8% to test USD 0.200. DOGE extended its rally by over 50% and ADA gained nearly 30%.
Bitcoin price remained stable above the USD 9,200 level and it is currently (08:30 UTC) consolidating near the USD 9,300 resistance. If BTC settles above USD 9,300 and USD 9,320, there are chances of another strong upward move towards USD 9,550 in the near term.
On the other hand, there was a bullish price action in most major altcoins, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD gained nearly 2% to trade past USD 240. XRP/USD outperformed and rallied above the USD 0.192 resistance level. BNB also jumped 5% and surpassed the USD 17.00 level.
Total market capitalization
After a decent upward move, bitcoin price struggled to settle above the USD 9,300 and USD 9,320 levels. BTC is currently trading in a range near USD 9,300 and it seems like the bulls are likely to make another attempt to clear USD 9,320. If they succeed, there are chances of a sustained upward move towards the USD 9,550 resistance.
On the downside, there is a strong support forming near USD 9,200 and USD 9,160. If the price fails to stay above USD 9,160, there is a risk of a sharp decline towards USD 9,000.
Ethereum price is gaining momentum above the USD 235 and USD 240 levels. ETH is trading with a positive angle and it seems like the price could rise steadily towards the USD 245 and USD 250 resistance levels.
Conversely, the price might start a fresh decrease if there is a bearish break below USD 235. The next major support is near the USD 230 level (the previous breakout zone).
Bitcoin cash, litecoin and XRP price
Bitcoin cash price has settled above USD 240 and it is showing positive signs. If BCH continues to rise, the next major hurdle for the bulls is near the USD 250 level. Any further gains may perhaps lead the price towards the USD 255 level. If there is a downside correction, the USD 232 and USD 230 levels might provide support.
Litecoin is up more than 3% and it broke the USD 43.50 resistance. LTC is trading above USD 44.50 and it is attempting to clear the USD 45.00 resistance. A successful close above USD 45.00 might open the doors for a sharp rise towards USD 46.50 and USD 48.00.
XRP price broke many hurdles near USD 0.190 and USD 0.192. The price is up over 8% and it recently tested the USD 0.200 resistance area. In the short-term, there could be a downside correction, but dips are likely to find bids near USD 0.196 or USD 0.195. On the upside, the key hurdle is near USD 0.200 and USD 0.202.
Other altcoins market today
In the past three sessions, many altcoins rallied more than 10%, including DOGE, ADA, VET, ZRX, SC, LINK, ATOM, SNX, ERD, REN, ZIL, ICX, THETA, SNT, and XLM. Out of these, DOGE extended its rally by over 50% and it spiked above the USD 0.0050 level.
To sum up, bitcoin price is showing positive signs above USD 9,200, while altcoins are rising. If BTC settles above USD 9,320, it could also start a decent increase towards the USD 9,500 and USD 9,550 levels.