Bitcoin and Ethereum Gain Momentum, DOGE and BNB Surge
Bitcoin price is rising and it is trading above the USD 36,500 resistance zone. BTC is currently (12:40 PM UTC) trading above USD 37,000 and it seems like the bulls are aiming for a break above USD 38,000. If they succeed, the price could test USD 40,000.
Besides, most major altcoins are trading in a bullish zone. ETH is gaining pace above the USD 2,700 level and it could even climb further above USD 2,750. XRP/USD is still consolidating above USD 1.00 and is facing a major hurdle near USD 1.10.
Total market capitalization
After a close above USD 36,000, bitcoin price started a steady increase. BTC could break the USD 37,500 and USD 38,000 resistance levels to move further into a positive zone. The main resistance is still near the USD 40,000 level. A successful close above USD 40,000 could spark a stronger bullish wave. If there is a fresh decline, an immediate support is near USD 36,500. The first major support is near USD 36,200, below which the price could test USD 35,000.
Ethereum price is rising and is trading above the USD 2,650 resistance. ETH might start a stronger increase if there is a clear break above USD 2,750. The next key resistance on the upside is near the USD 2,880 level. On the downside, an initial support is near the USD 2,650 level. If there is a downside break below USD 2,650, the price could revisit the USD 2,550 support.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) started a strong increase after it broke the USD 365 level. BNB even cleared the USD 380 level and it seems like the bulls are aiming for a break above the USD 400 level. If there is a fresh decline, the price could test the USD 380 support zone. Litecoin (LTC) is consolidating near the USD 180 level. If LTC breaks the USD 195 resistance, the bulls could gain strength. A close above USD 200 may possibly start a steady increase. On the downside, the bulls might remain active near the USD 165 level.Dogecoin (DOGE) is up over 35% and it broke the key USD 0.400 resistance. DOGE is trading above the USD 0.420 level and it could continue to rise towards the USD 0.450 level. If there is a downside correction, the price could find bids near the USD 0.400 level. As reported, major crypto exchange Coinbase Pro said it will start supporting DOGE tradind on June 3, “if liquidity conditions are met.” DOGE is not yet available on Coinbase.com or via their consumer mobile apps.XRP price is consolidating above the USD 1.0 resistance zone. It seems like XRP is setting up for a larger increase above the USD 1.05 and USD 1.10 levels. If not, there could be a drop towards the USD 0.950 support.
Other altcoins market today
Many altcoins climbed over 5%, including CRV, SHIB, CAKE, LEO, ICX, LUNA, KSM, MDX, NEAR, DOT, ZIL, HT, and MIOTA. Out of these, CRV rallied 30% and it broke the USD 2.4 level.
To sum up, bitcoin price is gaining pace above the USD 36,500 level. It seems like there are chances of a clear break above the USD 38,000 resistance in the near term. _____