Bitcoin Climbs Above USD 31K, Ethereum And Altcoins Grind Higher
Bitcoin price started a steady recovery wave above the USD 30,000 resistance. BTC even surpassed the USD 31,000 resistance and is currently (12:15 UTC) showing positive signs. The next key barrier is near USD 32,000, above which the price might accelerate higher.
Similarly, most major altcoins are showing signs of life. ETH gained pace above the USD 1,800 and USD 1,850 resistance levels. XRP is back above USD 0.550 and it could even test USD 0.565.
Total market capitalization
After a proper break above USD 30,000, bitcoin price gained bullish momentum. BTC even broke the USD 31,000 and USD 31,200 resistance levels. The price is showing bullish signs and it could even accelerate higher above USD 31,500. The next key resistance is near USD 32,000, above which the price might continue to rise.
On the downside, the USD 31,000 level is a decent support. The key support is now forming near the USD 30,500 level, below which the price might retest USD 30,000.
Ethereum price started a strong increase above the USD 1,800 resistance. ETH even broke the USD 1,850 and USD 1,900 resistance levels. If the price settles above USD 1,900, there are chances of a move towards the USD 2,000 level.
If there is a fresh decline, the price could find bids near the USD 1,850 level. The main breakdown support is now forming near the USD 1,800 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) rallied by almost 11% and it broke the USD 1.10 level. If ADA gains pace above USD 1.12, it might continue to rise towards the USD 1.20 level. If there is a downside correction, the price might find bids near the USD 1.10 level.
Litecoin (LTC) is back above the USD 110 and USD 112 levels. LTC is showing positive signs and it might rise further above the USD 115 level. The next key resistance is near USD 120, above which the price might test the USD 125 pivot level in the near term.
Dogecoin (DOGE) jumped over 17% and it gained pace above the USD 0.190 level. If there are more upsides, the price might test the main USD 0.200 resistance zone.
XRP price formed a decent support base above the USD 0.520 level. XRP gained pace and it surpassed the USD 0.550 level. The first key resistance is near the USD 0.565 level, above which the price might rise towards the USD 0.580 level. Any more gains could set the pace for a move towards USD 0.600.
Other altcoins market today
Several altcoins recovered over 10%, including RUNE, QNT, MATIC, TFUEL, AXS, TEL, DASH, ICP, THETA, XEM, COMP, FTT, SOL, KSM, and DCR. Out of these, MATIC gained over 25%, surpassing USD 0.835.
To sum up, bitcoin price is gaining pace above the USD 31,000 level. If BTC bulls remain active, there are chances of a move towards the USD 32,000 and USD 32,200 levels.