Ethereum and Ripple Rally While Bitcoin Stalls
- Bitcoin might continue to weaken.
- Ethereum surged above the USD 210 level and ripple gained close to 20% to move into uptrend.
- ABBC coin and XLM are up more than 15% today.
Yesterday, we saw a strong rise in ethereum price above the USD 195 resistance. Later, ETH/USD climbed above the USD 210 and USD 212 resistance levels. More importantly, ripple price started a strong rally after it broke the USD 0.265 and USD 0.272 resistance levels. XRP/USD gained nearly 20% and settled above the USD 0.3000 pivot level. On the other hand, bitcoin price declined slowly and moved below the USD 10,200 level. BTC/USD could even revisit the USD 10,000 support area in the near term.
Total market capitalization
The bears managed to push bitcoin price settled below the USD 10,250 level and it is currently (08:00 UTC) moving lower. BTC/USD could continue to weaken and it might soon test the USD 10,050 and USD 10,000 support levels. If the bears remain in action, there are chances of a downside extension towards the USD 9,920 level.
On the upside, an immediate resistance is near the USD 10,280 and USD 10,300 levels. A successful hourly close above the USD 10,300 level is needed for a decent recovery.
Ethereum price is gaining bullish momentum above USD 200 and it recently broke the USD 210 and USD 212 resistance levels. ETH/USD is trading near the USD 215 level and it seems like it is aiming for a test of the USD 225 resistance level in the near term.
Conversely, if there is a downside correction, the price could test the USD 210 support. The main supports on the downside are near the USD 205 level.
Bitcoin cash, eos and ripple price
Bitcoin cash price also started a decent upward move above the USD 310 level. BCH/USD is up around 6% and it recently broke the USD 320 level. If there are more gains, the price could surpass the USD 325 and USD 330 levels in the near term. On the downside, the previous resistance near USD 310 might now act as a strong support.
EOS is currently holding the USD 4.000 support level and is trading in a range. On the upside, the main hurdle is near the USD 4.150 level, above which there are chances of another rally in the coming sessions. The next key hurdles are near the USD 4.325 and USD 4.400 levels.
Ripple price performed well and likely moved into a strong uptrend. XRP/USD broke the key USD 0.265 and USD 0.272 resistance levels to start the recent rally. It even broke the USD 0.300 resistance and tested the USD 0.312 level. The price is currently correcting lower and it might test the USD 0.300 support.
Other altcoins market today
In the past three sessions, many small capitalization altcoins rallied more than 10%, including ABBC, XLM, RVN, ZRX, FX, DOGE, STRAT, XTZ, MKR, TRX, OMG and NEO. Out of these, ABBC rallied around 26% and XLM gained close to 18%.
Overall, bitcoin price is still struggling to recover and climb above USD 10,400. On the other hand, altcoins are surging and it seems like ETH, XRP, XLM, ADA, TRX and BCH could continue to head higher in the coming sessions.