Bitcoin and Ethereum Approach Key Breakout Level, BNB Outperforms
Bitcoin price is stable above the USD 36,500 support zone. BTC is currently (04:40 UTC) trading above USD 37,000, but it is facing hurdles near USD 38,000. A successful close above USD 38,000 could trigger a steady increase in the near term.
Besides, most major altcoins are showing positive signs. ETH is trading above USD 2,700 and it seems like the price could gain momentum above the USD 2,750 level. XRP/USD is still stuck below the USD 1.05 and USD 1.10 resistance levels.
Total market capitalization
After a proper close above USD 36,500, bitcoin price made another attempt to gain bullish momentum. However, BTC struggled to settle above USD 38,000 and it started consolidating gains. The current price action is positive and it seems like there are chances of a break above USD 38,000. If the bulls succeed, the price could rise towards the USD 40,000 level. An immediate support on the downside is near USD 37,000. The first major support is now forming near USD 36,500, below which the price could revisit USD 35,000.
Ethereum price is following a similar pattern and it might accelerate higher above the USD 2,750 level. The next key resistance is near the USD 2,800 level, above which the price could climb higher towards the USD 3,000 level. If there is a downside correction, the price might find support near USD 2,680. The first major support is now near USD 2,650, where the bulls might remain active.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is trading above the USD 400 level. BNB rallied over 10% recently and it could continue higher. The first major resistance is near the USD 420 level, above which the price might surge towards the USD 440 level. Litecoin (LTC) is slowly rising and it is trading above the USD 185 level. LTC might face hurdles near the USD 195 and USD 200 levels. A close above the USD 200 level could open the doors for a steady increase towards USD 225 and USD 230.Dogecoin (DOGE) settled above the USD 0.400 level. DOGE even cleared the USD 0.420 level and it seems like the bulls are aiming for a test of the USD 0.450 level. If there is a fresh decline, the USD 0.400 level could provide support in the near term.XRP price is still stuck between the USD 1.00 and USD 1.05 levels. If there is a clear break above USD 1.05 and USD 1.10, the price could accelerate higher towards USD 1.25. On the downside, the bulls might protect heavy losses below USD 0.920.
Other altcoins market today
Many altcoins gained over 10%, including OKB, KSM, MIOTA, FTM, MIOTA, FTM, DOT, ALGO, CRV, SOL, WAVES, ATOM, NEO, DOGE, and ICX. Out of these, OKB is up by 25% and it cleared the USD 17 level.
Overall, bitcoin price is showing positive signs above the USD 36,500 level. If BTC gains momentum above USD 38,000, the bulls could take over in the short-term. _____