Green Friday for the Crypto Market
- Bitcoin price rallied above the USD 6,500 and USD 6,600 resistances.
- Ripple outperformed the market and rallied more than 40% towards USD 0.500.
- Ethereum could break the USD 230 resistance if buyers remain in action.
Bitcoin price stayed in a positive zone above the USD 6,400 support. BTC/USD broke the USD 6,500 and USD 6,600 resistances, but the USD 6,750 barrier acted as a solid resistance. On the other hand, ripple performed really well as it nearly doubled its price from the USD 0.250 support. XRP/USD tested the USD 0.500 level before correcting lower. Moreover, other major altcoins like ethereum, bitcoin cash and litecoin also traded higher. Going forward, the market may continue to gain traction as long as bitcoin price is above the USD 6,400 support.
Total market capitalization:
Bitcoin price climbed higher slowly and succeeded in surpassing the key resistance at USD 6,600. BTC/USD buyers currently seem to be facing a lot of offers near the USD 6,750 resistance. Therefore, there could be a minor dip in the near term towards the USD 6,650 and USD 6,600 levels.
On the upside, a break and close above the USD 6,750 zone may perhaps increase pressure on sellers. In the mentioned case, the price could rise further towards the USD 6,800 and USD 6,920 levels.
Ethereum price finally broke the USD 215 resistance. ETH/USD even surpassed the USD 220 level and it is currently facing sellers near the USD 230 resistance.
If there is a downside correction, buyers are likely to appear near the USD 215 and USD 210 levels. On the upside, a break above the USD 230 level will most likely trigger more bullish moves above the USD 242 level.
Bitcoin cash and ripple price
Bitcoin cash price also recovered more than 8% and traded above the USD 450 resistance. BCH/USD is now well supported and it may well attempt to surpass the USD 490 - USD 500 resistance area in the near term. The next hurdle for buyers is close to USD 520.
Ripple price rallied sharply and gained close to 50%. XRP/USD tested the USD 0.480 - USD 0.500 zone and it is currently consolidating gains. On the dips, the USD 0.455 and USD 0.432 levels are likely to act as supports.
Other altcoins market today
To sum up, the recent rise in ripple lifted the market sentiment in favor of buyers. If bitcoin also joins the party and rallies above USD 6,750, prices could move further into the green zone in the near term.