Bitcoin Consolidates Gains, Ethereum and Altcoins Basing For Next Move
Bitcoin price remains in a bullish zone and it recently climbed above the USD 56,000 and USD 57,000 levels. BTC traded close to USD 57,500 before correcting lower. It is currently (05:00 UTC) showing positive signs around USD 55,500 and it might continue higher above USD 56,500.
Besides, most major altcoins are seemingly preparing for the next move. ETH corrected lower, but the bulls are active above the USD 1,775 support. XRP/USD is declining towards the main USD 0.450 support zone.
Total market capitalization
There were additional gains in bitcoin price above the USD 56,000 and USD 57,000 resistance levels. BTC traded to a new monthly high near USD 57,400 before correcting lower. It declined below the USD 56,000 level, but the bulls are protecting the USD 55,000 support zone.
It is consolidating well above USD 55,000 and it seems like there are chances of a fresh increase above USD 56,500. The first key resistance is near USD 57,000, above which the bulls might aim for a new monthly high above USD 57,500.
Ethereum price struggled to continue higher above USD 1,870 and USD 1,880. ETH corrected lower and declined below USD 1,800. However, the bulls are active above USD 1,775. As long as there is no break below the USD 1,760 zone, the price could start a fresh increase.
On the upside, an initial resistance is near the USD 1,825 level. The main resistance on the upside is still near the USD 1,870 and USD 1,880 levels.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is holding gains above the USD 275 and USD 280 levels. BNB might retest the USD 295 and USD 300 resistance levels. If there is a clear break above USD 300, the price might accelerate higher. Conversely, there might be a dip towards the USD 265 support zone.
Cardano (ADA) seems to be consolidating in a broad range above the USD 1.100 and USD 1.120 support levels. The main support is still near USD 1.050, below which there could be a sharp decline of 8%-10%. On the upside, the range resistance is near the 1.200 and 1.220 levels.
Litecoin (LTC) is consolidating near the USD 200 pivot level. It seems like LTC could start a strong increase above the USD 205 and USD 210 levels. In this case, the price might test the USD 240 level. If not, it might revisit the USD 172 support.
XRP price showing a few bearish signs and it is approaching the USD 0.450 support zone. If the bulls fail to defend USD 0.450, there could be a drop towards the USD 0.420 support. On the upside, the USD 0.480 is a decent resistance, followed by USD 0.500.
Other altcoins market today
A few altcoins gained over 8%, including TFUEL, HBAR, THETA, BAT, BTG, CELO, ZIL, CHZ, KSM, RUNE, and ZEC. Out of these, TFUEL surged over 50% and cleared the USD 0.300 level.
Overall, bitcoin price is seemingly gaining bullish momentum above USD 55,000. If BTC settled above USD 56,500, it could extend its rise towards USD 58,000 or even USD 58,500 in the coming sessions.