Bitcoin and Ethereum Inch Higher, BNB Outperforms
Bitcoin price remained well bid above the USD 33,200 and USD 33,500 support levels. BTC seems to be forming a base and it could aim for a larger increase above USD 35,000. It is currently (04:34 UTC) stuck in a range, with key hurdles near USD 35,000 and USD 35,500.
Also, most major altcoins are slowly rising. ETH gained pace and it was able to settle above the USD 2,300 level. XRP is consolidating above USD 0.65 and it could try testing USD 0.70 once again.
Total market capitalization
After struggling to stay above USD 35,000, bitcoin price started a downside correction. BTC traded below USD 34,000, but it remained well supported near USD 33,200. The price formed a base and it started a stronger upward move above USD 34,000. The first major resistance is still near USD 35,000. A close above USD 35,000 could initiate a larger increase in the coming sessions. An initial support on the downside is near the USD 34,000 level. The first key support is near USD 33,500, followed by the main USD 33,200 level.
Ethereum price remained well bid above the USD 2,200 support zone. ETH started a fresh increase and it climbed above USD 2,300. If the price settles above USD 2,350, it could rise towards USD 2,400 and USD 2,450. If there is a fresh decline, the price might find support near the USD 2,280 level. The next major support is now forming near the USD 2,250 level, below which the price might test USD 2,200.
BNB, LTC, DOGE, and XRP price
Binance coin (BNB) is gaining pace above the USD 320 level. BNB even surpassed the USD 325 resistance. It seems like the bulls are aiming for a break of the USD 340 level. The next key resistance is near the USD 350 level.Litecoin (LTC) is showing a few positive signs above the USD 138 and USD 140 levels. However, LTC is facing a strong resistance near the USD 150 level. A close above USD 150 might start a stronger increase in the near term. On the downside, the USD 132 level is a decent support zone.Dogecoin (DOGE) is underperforming and it is still trading well below the USD 0.250 resistance zone. If the bears remain in action, there is a risk of a drop to USD 0.212. The next major support is near the USD 0.200 level. XRP price is trading well above USD 0.650 and it is slowly rising. An immediate resistance is near the USD 0.680 level. The main resistance is still near USD 0.70. A close above USD 0.70 could prompt a stronger rally in the near term.
Other altcoins market today
Many altcoins gained over 10%, including MANA, KCS, ONE, KSM, FTT, ENJ, LUNA, STX, CAKE, CHZ, and BAT. Out of these, MANA rallied 25% and it cleared the USD 0.70 level, while KSC jumped by 30%, surpassing USD 14.
Overall, bitcoin price is trading above the USD 33,500 support zone. If BTC gains pace above USD 35,000, it could spark a larger increase in the coming sessions. _____