Bitcoin and Ethereum Fail Near Breakout Zone, Altcoins Climb Higher
Bitcoin price started a fresh increase above the USD 34,000 and USD 34,500 resistance levels. BTC even spiked above USD 35,000, but it failed to continue higher. It is currently (12:12 PM UTC) trading near USD 34,000, but it must settle above USD 35,000 for upside continuation.
Besides, most major altcoins are showing positive signs. ETH surged above USD 2,300, but it faced a strong resistance near USD 2,350. XRP is stable above USD 0.65, but it could face hurdles near USD 0.70.
Total market capitalization
After forming a base above USD 33,200, bitcoin price started a fresh increase. BTC broke the USD 34,500 resistance and it even spiked above USD 35,000. However, the price failed to stay above USD 35,000 and it corrected lower. The price traded below USD 34,000 before returning to this level.
An initial support on the downside is near the USD 33,500 level. The main support is now forming near the USD 33,200 level, below which the price could test USD 32,200.
Ethereum price also followed a similar pattern and it climbed above the USD 2,300 level. ETH even tested the USD 2,350 zone, where it faced sellers. There was a bearish reaction and the price declined below USD 2,300, before recovering some of the losses.
The bulls are now protecting the USD 2,250 level. The key support sits near USD 2,200, below which there is a risk of a larger decline.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) spiked above the USD 312 level and it tested USD 320. BNB is showing positive signs and it seems like the bulls may soon attempt a move above USD 325. If not, the price could dip below USD 300 and it might even test the USD 280 level.
Litecoin (LTC) is consolidating near the USD 135 level. If LTC breaks the USD 135 level, there is a risk of a drop towards the USD 125 level. On the upside, the USD 142 level is an immediate resistance, above which the price might rise towards the USD 150 level.
Dogecoin (DOGE) is struggling to recover and it might slowly move down towards USD 0.212. The next major support is near the USD 0.200 level. Conversely, a break above USD 0.250 is a must for a stronger upward move.
XRP price is consolidating above the key USD 0.650 support zone. If XRP breaks the USD 0.650 support, it could dive towards USD 0.62 or even USD 0.60. On the upside, the USD 0.70 level is still a major breakout zone.
Other altcoins market today
Many altcoins climbed over 5%, including KCS, SNX, AAVE, COMP, SUSHI, RUNE, AVAX, LEO, MANA, CRV, UNI, MKR, CAKE, and ONE. Out of these, KCS is showing positive signs above the USD 10 level.
To sum up, bitcoin price is trading in a positive zone above the USD 33,200 support zone. However, BTC must settle above the USD 35,000 zone to start a steady increase in the coming sessions.