Bitcoin price stayed above the USD 34,200 support zone and started a new uptrend. BTC has broken the USD 36,500 resistance level to enter a short-term positive zone. Currently (13:00 UTC) it is trading near $ 37,000, with large hurdles near $ 37,200, $ 37,800, and $ 38,000.
Also, most of the major altcoins trade in a bullish zone. ETH / USD climbed above USD 1,225 and is attempting an uptrend above USD 1,265. XRP / USD stayed above USD 0.265 and is approaching the USD 0.300 barrier.
Total market capitalization
After basing above USD 34,500, Bitcoin price rebounded above USD 35,500 and USD 36,500. BTC even surged above $ 37,200 but is facing strong sales interest. To continue to rise, the price must be above $ 37,200 and then go bullish above $ 38,000.
Should it decline again, the $ 36,500 level could provide support. The next major support is at $ 36,200 below which the price could hit the $ 35,500 level again.
Ethereum price is up over 2% and is trading above the USD 1,225 level. ETH faces a large breakout zone with USD 1,250 and USD 1,265. A successful break and close above the USD 1,265 level could open the doors to a larger move higher. In the case mentioned, the price could rise above USD 1,300.
On the downside, initial support is close to the USD 1,225 level. The first major support is at $ 1,220 below which the price could drop towards the $ 1,165 support.
Bitcoin cash, Litecoin and XRP price
Bitcoin cash price rose 5% and is now trading above USD 485. BCH is attempting a substantial break above the USD 500 resistance. If the bulls are successful, there is a possibility of a steady rise to the USD 520 and USD 535 levels. A downward correction or decline could find strong support near USD 485 and USD 480.
Litecoin (LTC) rose over 7% and is now trading above the key resistance at USD 150. It appears that the price could continue to climb towards the USD 165 and USD 168 levels. Further gains could lead the price towards USD 180. If there is a downward correction, the USD 142 and USD 140 levels can bid.
XRP price stayed above the USD 0.265 support zone and is now trading well above USD 0.280. The first major resistance is at USD 0.295. The main resistance is still at $ 0.300, above which the bulls could gain strength in the short term.
Other altcoin market today
Many altcoins rose over 10%, including ICON, NEO, ZEN, HEDG, OCEAN, AMPL, NANO, FTT, OMG, WAVES, YFI, VET, ICX, BAT, and MIOTA.
In summary, Bitcoin stayed above strong uptrend support at $ 34,200. If BTC recaptures the USD 38,000 zone, a new journey towards USD 40,000 could begin.
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