Bitcoin Rallies, Ethereum and Altcoins Show Positive Signs
Bitcoin price settled above the USD 35,000 resistance zone. As a result, BTC gained bullish momentum and it cleared the USD 36,500 resistance. It even cleared USD 37,000 and it is currently (04:35 UTC) facing a strong resistance near USD 38,000.
Besides, most major altcoins are recovering steadily. ETH settled above the USD 2,500 level and it even cleared the USD 2,550 resistance. XRP/USD broke the USD 0.88 resistance and it may soon clear USD 0.90.
Total market capitalization
After a close above USD 35,000, bitcoin price extended its upward move. BTC climbed higher steadily above the USD 36,000 and USD 36,500 levels. There was a spike towards the USD 37,500 level, but the price failed to extend gains. The main resistance on the upside is near USD 38,000, above which the price could test USD 40,000. On the downside, the price might remain stable above the USD 36,500. The next major support is now forming near the USD 35,500 level.
Ethereum price gained momentum for a close above the USD 2,500 level. ETH even cleared the USD 2,550 resistance and it is now showing positive signs. An initial resistance is near the USD 2,620 level. The first major resistance for a larger increase is near USD 2,650. If there is a fresh decline, the USD 2,500 level might provide support. The next key support is near the USD 2,440 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is back above the USD 350 resistance level and it even cleared USD 365. BNB is now approaching the USD 380 level. A successful break above USD 380 could lift the price towards the USD 400 resistance zone in the near term.Litecoin (LTC) is up over 10% and it cleared the USD 165 level. LTC is trading above USD 170 and it might test the USD 180 level. If the bulls remain in action, there are chances of a move towards the key USD 200 level.Dogecoin (DOGE) gained pace above the USD 0.320 and USD 0.335 levels. It is now facing hurdles near USD 0.350. A close above USD 0.350 might open the doors for a move towards the USD 0.400 level. On the downside, the bulls might remain active near the USD 0.320 level.XRP price gained over 7% and it surpassed the USD 0.880 resistance. It is now testing the USD 0.900 resistance, above which the price could gain bullish momentum. The next key resistance is near the USD 0.950 level. Conversely, it could revisit USD 0.850.
Other altcoins market today
Many altcoins gained over 10%, including BTG, KSM, ZEN, ZEC, RUNE, RVN, QTUM, DOT, NEO, XMR, ETC, WBTC, BTCB, NEXO, and CRV. Out of these, KSM is gaining pace and it even cleared the USD 500 level.
Overall, bitcoin price is trading above the USD 36,500 pivot level. If BTC clears the USD 38,000 resistance, it could accelerate higher towards USD 40,000 in the near term. _____