Ethereum Eyes New ATH, Bitcoin and Altcoins Gain Traction
Bitcoin price broke the USD 34,500 resistance level to move into a positive zone. BTC even spiked above USD 35,000 and it is currently (13:00 UTC) trading in a bullish territory. If there is a daily close above USD 35,000, there are chances of a steady rise in the near term.
Similarly, most major altcoins are trading in a positive zone. ETH/USD is gaining bullish momentum above USD 1,420 and it seems like the bulls are eyeing a test of USD 1,500 and USD 1,520. XRP/USD is trading well above the USD 0.350 support, but it must settle above USD 0.420 for a fresh increase.
Total market capitalization
There was an increase in bitcoin price above the USD 34,000 and USD 34,500 levels. BTC even broke the USD 35,000 resistance, but there is no proper close yet. If the bulls remain in action, the price could continue to rise towards the USD 35,500 and USD 36,200 levels.
If there is no close above USD 35,000, there could be a short-term downside correction. The first key support is near the USD 34,500, below which the price could revisit USD 34,000.
Ethereum price is showing positive signs above USD 1,400. The bulls already made an attempt to clear the USD 1,450 resistance zone. If there is another attempt, ETH could jump above USD 1,475 and USD 1,500.
On the downside, an initial support is near the USD 1,400 level. The first major support sits at USD 1,380. Any more losses could lead the price towards the USD 1,350 support.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is rising towards the USD 440 and USD 450 resistance levels. If BCH breaks the USD 450 resistance, the price could even clear the USD 465 resistance. If there is a fresh decline, the bulls might protect USD 412. The next major support is still near the USD 400 level.
Litecoin (LTC) is up 5% and it is testing the USD 142 resistance. If LTC clears the USD 142 hurdle, it could rise towards the USD 150 resistance. The next stop for the bulls above USD 150 may possibly be near the USD 162 level. On the downside, the price might remain well supported near USD 130.
XRP price extended its decline, but the bulls were able to protect the USD 0.350 support. It is currently recovering higher, with an immediate resistance at USD 0.400. The main resistance is near USD 0.420, above which the price might start a fresh surge.
Other altcoins market today
Many altcoins climbed over 10%, including FUN, LUNA, SOL, ADA, NEXO, QNT, BAND, CHSB, UMA, HBAR, REN, KNC, THETA, ZIL, NEAR, ATOM, and SUSHI. Out of these, LUNA gained 25% and it is approaching the USD 2.00 level.
To sum up, bitcoin price is slowly moving higher and it is showing positive signs above USD 34,500. Once BTC settles above USD 35,000, it could open the doors for more upsides.
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