New High for Bitcoin, Altcoins Show Positive Signs
Bitcoin price traded to a new all-time high above USD 29,650. Ethereum is still struggling to gain momentum above USD 750, XRP is up 8% and approaching USD 0.240. ZIL, OMG, and RSR are up 10% and gaining bullish momentum.
There were additional gains in bitcoin price above the USD 29,500 level. BTC traded just above USD 29,650 and formed a new all-time high. It is currently (13:00 UTC) showing signs of more possible gains above USD 29,650 and USD 29,800.
Similarly, many major altcoins are showing bullish signs. ETH/USD is facing an uphill task near USD 750, above which the price could surge significantly. XRP/USD is gaining momentum above the USD 0.232 resistance zone.
Total market capitalization
After a close above USD 29,200, bitcoin price started a steady increase. BTC even broke the USD 29,500 level and traded to a new all-time high above USD 29,650. It is currently correcting lower below USD 29,500. An initial support is near the USD 29,200 level. The main support is now forming near the USD 28,800 level.
On the upside, the price is facing a minor hurdle near the USD 29,600 zone. The key resistance for the bulls is near USD 30,000, where the bears might take a stand.
Ethereum price is consolidating near the USD 735 level. ETH is still struggling to gain momentum above the USD 750 and USD 755 levels. A close above the USD 755 level may possibly open the doors for a strong increase towards the USD 765 and USD 770 levels.
On the downside, the USD 730 level is a decent support. Any more losses could lead the price towards the USD 722 and USD 720 levels.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price failed to stay above the USD 350 level. BCH is slowly moving lower towards the USD 342 level. The next key support is near the USD 330 level. Any more losses could lead the price towards the USD 320 level. To start a fresh increase, the price must gain momentum above the USD 355 and USD 360 levels.
Litecoin (LTC) is trading above the USD 120 and USD 122 levels. A clear downside break below the USD 120 level could push the price towards the USD 105 and USD 102 levels. The primary hurdle is near USD 130, above which the bulls could test the USD 140 and USD 142 levels.
XRP price is recovering above the USD 0.230 and USD 0.232 levels. The price is gaining bullish momentum above USD 0.232 and it might hit the USD 0.248 and USD 0.250 resistance levels. A close above USD 0.250 could start a strong increase towards the USD 0.265 resistance. On the downside, the price might remain stable above USD 0.220.
Other altcoins market today
In the past few hours, many altcoins gained over 5%, including ZIL, OMG, NEAR, RSR, NXM, FIL, REN, DOT, UNI, OCEAN, SUSHI, MANA, LINK, ANT, and DOGE. Out of these, ZIL is gaining momentum above USD 0.085.
To sum up, bitcoin price is gaining momentum above USD 29,200. If BTC remains stable above USD 29,000, there are chances of a sharp increase towards USD 29,800 and USD 30,000.