Bitcoin and Ethereum Inch Higher, MATIC Reclaims USD 2
Bitcoin price remained well supported above the USD 36,500 and USD 37,000 levels. BTC started a fresh increase above the USD 38,000 resistance. It is currently (04:30 UTC) approaching the USD 40,000 resistance, above which the bulls might gain strength.
Similarly, most major altcoins are showing positive signs. ETH broke the USD 2,750 resistance and it might test the USD 3,000 resistance. XRP/USD is back above USD 1.00, but it lacks bullish momentum.
Total market capitalization
After a short-term downside correction, bitcoin price formed a base above the USD 37,000 level. As a result, BTC climbed above the USD 38,000 and USD 39,000 levels. An immediate resistance is near the USD 40,000 level. A daily close above USD 40,000 could start a steady increase towards USD 42,000 or even USD 45,000. On the downside, an initial support is near the USD 38,000 level. The first key support is now forming near the USD 36,500 level.
Ethereum price also followed bitcoin and it gained pace above the USD 2,750 resistance level. ETH even broke the USD 2,800 level. The first key resistance is near the USD 2,880 level, above which the price could test the USD 3,000 level. If there is a fresh decline, the USD 2,750 level might provide support. The next major support could be USD 2,650, below which the bulls might struggle in the short-term.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) remained well bid above the USD 300 pivot level. BNB started a fresh increase and it cleared the USD 350 resistance. The price could test the USD 375 and USD 380 resistance levels. The main hurdle is still near the USD 400 level.Litecoin (LTC) is gaining pace and it is trading above USD 180. LTC could test the key USD 200 resistance. A clear break and close above USD 200 may possibly start a strong increase. The next major stop for the bulls could be USD 250. On the downside, the USD 165 level is a decent support.Dogecoin (DOGE) remained strong above USD 0.300 and it climbed above the USD 0.350 zone. It is now consolidating gains and it could attempt a move towards the USD 0.380 level. The next major breakout zone is near the USD 0.400 level.XRP price stayed above USD 0.900 and it started a fresh increase. There was a break above the USD 0.98 and USD 1.00 resistance levels. If the price remains stable, it could rise towards the USD 1.10 resistance zone in the near term.
Other altcoins market today
Many altcoins gained over 10%, including MATIC, HOT, CHSB, LUNA, RUNE, TEL, CELO, SUSHI, OMG, LINK, SC, RVN, BAKE, HNT, and CAKE. Out of these, MATIC, HOT, and CHSB are up over 30%.
Overall, bitcoin price is showing positive signs above USD 38,000 and USD 39,000. If BTC clears the USD 40,000 barrier, it could accelerate higher in the near term. Conversely, it could drop towards USD 36,500. _____