Bitcoin Remains Stable, Ethereum and Altcoins Face Hurdles
Bitcoin price formed a short-term top near the USD 41,100 level. BTC corrected lower and it even moved below USD 40,000. It is currently (12:14 PM UTC) trading well above the USD 38,500 support, but it must gain momentum above USD 40,000 for a sustained move higher.
Besides, most major altcoins are facing key hurdles. ETH is struggling to gain bullish momentum above the USD 2,600 resistance. XRP/USD could revisit USD 0.90, where sellers might appear.
Total market capitalization
After a follow up move above USD 40,000, bitcoin price struggled near USD 41,100. BTC started a minor downside correction and it traded below USD 40,500. There was also a break below the USD 40,000 level, but the price remained well bid above USD 39,200. The next major support on the downside is near USD 38,500. On the upside, the bulls are facing hurdles near USD 40,800 and USD 41,000. A close above USD 41,000 could push the price towards USD 42,000 or even USD 43,500.
Ethereum price is also facing a major resistance near the USD 2,600. The next key resistance is near the USD 2,650 level. A proper break above USD 2,650 could lift the price towards USD 2,800. If not, the price could correct lower below the USD 2,550 support level. The next major support is near the USD 2,500 level, where the bulls might take a strong stand.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) gained pace above the USD 365 level, but it is now facing resistance near the USD 380 level. If there is a clear break above USD 380, the price could revisit the USD 400 level. Conversely, there is a risk of a drop towards the USD 350 support zone.Litecoin (LTC) is trading well above the USD 172 resistance. LTC is now facing hurdles near the USD 180 resistance. If there is a break above USD 180, the price could rise towards the USD 200 resistance level. On the downside, the main support is now forming near the USD 150 level.Dogecoin (DOGE) might make another attempt to clear the USD 0.335 resistance level. If it succeeds, the price could rise towards the USD 0.350 resistance. On the downside, the bulls might remain active near the USD 0.305 and USD 0.300 support levels.XRP price is slowly rising and it is now trading near the USD 0.880 level. The main barrier for the bulls is near the USD 0.90 level. A clear break above USD 0.90 could pop the price towards the USD 0.950 level. If not, it might drop back to USD 0.850.
Other altcoins market today
A few altcoins climbed over 8%, including AMP, KLAY, RUNE, MATIC, DOT, SNX, LINK, SOL, LUNA, BAT, and UMA. Out of these, AMP rallied over 36% and it broke the USD 0.085 level.
To sum up, bitcoin price is trading in a positive zone above USD 40,000. If BTC remains stable above USD 38,500, it might climb higher towards USD 42,000 and USD 43,500.