Bitcoin price is showing positive signs and recently broke the USD 33,500 resistance. BTC has even hit the USD 34,000 level and is currently (13:00 UTC) up over 5%. If the closing price is above USD 34,200 and USD 34,500, there is a possibility of a movement above USD 35,000.
Similarly, most of the major altcoins are gaining momentum. ETH / USD is stable above USD 1,400 and the bulls appear to be passing a test of USD 1,500. XRP / USD is consolidating and facing many hurdles starting at USD 0.285.
Total market capitalization
Bitcoin price picked up pace after a recovery wave above USD 33,000. BTC was able to cross the USD 34,000 resistance area and even surged above USD 34,200. If the bulls remain active above USD 34,200 and the price is above USD 34,500, there is a possibility of sustained upward movement in the upcoming sessions. The next major resistance is near the $ 35,000 level.
On the downside, the USD 33,500 level is a strong support. Further losses could move the price towards the USD 32,200 support zone.
Ethereum price corrected lower, but the bulls protected the $ 1,400 support. ETH is rising again, trading above USD 1,420. Immediate resistance is at $ 1,450, above which the price could move towards the $ 1,500 resistance zone.
If it drops again, the $ 1,400 level is a strong support. A closing price below $ 1,400 could potentially move the price towards $ 1,350.
Bitcoin Cash, Litecoin and XRP Price
Bitcoin’s cash price is picking up pace above the $ 450 resistance level. Immediate resistance is near USD 465, above which the price could continue to rise towards the USD 488 and USD 500 levels. Conversely, a downside break below USD 450 could push the price back towards the USD 425 support zone. The next major support is near the USD 400 level.
Litecoin (LTC) is showing positive signs above the USD 142 pivot level. LTC is approaching the USD 145 level and it seems that the price may test the USD 150 level soon. A closing price above the USD 150 level could move the price towards the USD 165 level. On the flip side, the USD 140 support zone could continue to prevent losses.
The XRP price is trading above the USD 0.272 support level but is struggling to generate bullish momentum. Initial resistance is near the USD 0.285 level, above which the bulls may attempt another upside break above the USD 0.300 resistance. If successful, the price could rise towards the USD 0.320 and USD 0.330 levels.
Other altcoin market today
Many altcoins gained over 8%, including EGLD, ZEN, UNI, BNT, ICX, COMP, AAVE, LRC, HEDG, ALGO, OCEAN, THETA, QNT and AMPL. Of these, EGLD broke the USD 45.00 resistance and even tested USD 50.00.
In conclusion, Bitcoin price is showing positive signs above USD 34,000 but needs to gain momentum above USD 34,200 and USD 34,500 to continue rising. If not, it could go as low as USD 33,000.
Find the best price to buy / sell cryptocurrency: