Bitcoin price appears to be basing above the $ 32,000 level. BTC rebounded above the USD 32,500 and USD 32,800 resistance levels. Currently (05:00 UTC) it is trading above USD 33,000 and it looks like the bulls may test the USD 34,000 or USD 34,200 levels.
Conversely, most of the large altcoins show positive signs. ETH / USD gained over 15% to hit a new all-time high near USD 1,500. XRP / USD is consolidating and could make another attempt to clear the USD 0.300 resistance in the next 2-3 days.
Total market capitalization
After falling sharply, Bitcoin price rebounded above USD 32,000. BTC rose steadily above USD 32,500 and even surpassed the USD 33,000 level. The price is now facing hurdles near the USD 33,500 level. Main weekly resistance is near the USD 34,200 level. A close above $ 34,200 could increase the likelihood of a push above the $ 35,000 resistance zone.
On the downside, the $ 32,400 level is decent support. The main support is at $ 30,800, below which the bears could seek a test of the UD 28,500 support zone.
Ethereum’s price outperformed Bitcoin and soared after breaking the $ 1,300 level. ETH gained over 15% and removed many barriers near $ 1,400. The price hit a new all-time high near USD 1,475 and recently began a downward correction.
Initial downside support is near the USD 1,400 zone. The next major support is at $ 1,350 below which there is a risk of a major downward correction. On the upside, the bulls could be aiming for a break above USD 1,500.
Bitcoin Cash, Litecoin and XRP Price
Bitcoin cash price is recovering and trading above USD 450. The first major resistance is near the USD 465 level, above which BCH could potentially move towards the USD 488 resistance level. The next big hurdle for the bulls is near the USD 500 level. On the flip side, the price could stay stable above USD 425 and USD 415.
Litecoin (LTC) is back above USD 140 testing the USD 145 zone. Immediate resistance is near the USD 150 level. A successful close above the USD 150 level could increase the likelihood of pressure on the USD 165 and USD 168 resistance levels increase.
The XRP price forms a support base above the USD 0.255 and USD 0.262 levels. On the upside, the $ 0.285 level is a short-term resistance. The weekly main pivot value is USD 0.300. A closing price above the USD 0.300 and USD 0.312 could pump the price above the USD 0.320 level.
Other altcoin market today
Several altcoins rose over 10% including UNI, EGLD, SUSHI, AAVE, COMP, AMPL, BNT, IOST, SNX, and CEL. Of these, UNI gained over 25% and broke the USD 12.00 level.
Overall, Bitcoin price is rising towards the USD 34,000 and USD 34,200 resistance levels. Conversely, ETH has cleared a lot of hurdles and there seems to be further upward movements above USD 1,500.
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