Bitcoin price is consolidating above the USD 33,000 and USD 32,200 support levels. On the upside, BTC faces strong resistance near the $ 34,500 and $ 35,000 levels. It is showing positive signs currently (05:00 UTC) but has to settle for a steady rise above USD 35,000.
Conversely, most of the major altcoins are slowly gaining an upward trend. ETH / USD cleared the USD 1,350 resistance and it appears that the bulls are aiming for more gains above USD 1,400 and USD 1,420. On the flip side, XRP / USD didn’t stay in bullish territory and fell below USD 0.400.
Total market capitalization
Over the past few sessions, Bitcoin price has largely consolidated above the $ 32,200 and $ 33,000 support levels. On the upside, the first major resistance is near the $ 34,500 level. Main resistance is now forming near the $ 35,000 level. A closing price above the $ 35,000 level could open the doors for sustained upward movement.
On the downside, the USD 33,200 level is decent support. The next major support is at $ 33,000, below which the price could drop towards the $ 32,200 support zone.
The price of Ethereum is steadily rising and trading above the USD 1,350 resistance. Immediate resistance is near the USD 1,400 zone. The next major resistance is near the $ 1,450 level. A significant break above the $ 1,450 level could potentially require a new rally towards the $ 1,500 and $ 1,550 levels.
If there is no interruption above USD 1,400 and USD 1,450, the price could correct lower. Initial support is near the USD 1,350 level. The next major support is at $ 1,320.
Bitcoin Cash, Litecoin and XRP Price
Bitcoin cash price is trading above the USD 405 and USD 400 support levels. BCH could start a fresh spike towards the USD 440 and USD 450 resistance levels. If not, there is a risk of falling sharply below the USD 400 and USD 385 support levels in the near future.
Litecoin (LTC) is consolidating above the USD 130 level. Initial resistance for LTC is near the USD 138 level. The first major resistance is USD 142 above which the bulls could test the USD 150 level. On the flip side, the $ 130 level could offer support.
The XRP price soared to the $ 0.7500 level before falling sharply. Most of its profits have been reduced and even traded below $ 0.400. The first major support is at USD 0.350. The main support is now forming near the USD 0.300 level which has been a key barrier in the past few weeks.
Other altcoin market today
Many altcoins rose by over 10%, including FUN, BAND, SUSHI, CAKE, LUNA, NEXO, XEM, AMPL, ADA, BNB, Berufsbildung, SOL, QNT, THETA, OMG, CRV, XVG and ATOM. Of these, FUN rose 50% and traded above the USD 0.0420 level.
Overall, Bitcoin price is slowly rising but is facing strong resistance near $ 35,000. Also, ETH is gaining momentum and could accelerate above USD 1,400 and USD 1,450.
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