Bitcoin Consolidates Gains, Ethereum and Altcoins Aim Higher
Bitcoin price gained bullish momentum above the USD 38,500 resistance level. BTC even cleared USD 40,000 to move further into a positive zone. It is currently (04:30 UTC) consolidating gains and it might resume its upward move above USD 41,000.
Besides, most major altcoins are slowly moving higher. ETH surpassed the USD 2,550 resistance and it is now facing hurdles near USD 2,650. XRP/USD is recovering and it could gain pace if it clears USD 0.90.
Total market capitalization
After a successful break above USD 38,500, bitcoin price extended its upward move. BTC even climbed above the USD 39,500 and USD 40,000 resistance levels. It tested the USD 41,100 zone and is currently consolidating gains. An immediate support on the downside is near the USD 40,000 level. The first major support is near the USD 39,500 level.
On the upside, the price is facing resistance near USD 40,800 and USD 41,000. The next key stop could be near the USD 42,000 level in the coming sessions.
Ethereum price started a steady increase and it cleared the USD 2,500 resistance. ETH even surpassed USD 2,550 and it is now facing resistance near USD 2,600. The main hurdle is now near USD 2,650, above which the price might rise towards USD 2,800.
If the price fails to clear USD 2,600 or USD 2,650, it could correct gains. An initial support is near the USD 2,550 level. The main support is now forming near the USD 2,500 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is up around 5% and it is trading above the USD 365 level. On the upside, an immediate resistance is near the USD 380 level. Any more gains could open the doors for a test of the USD 400 level. If there is a downside correction, the price might find support near USD 365.
Litecoin (LTC) surpassed the USD 172 resistance. LTC is now approaching the USD 180 resistance. If the bulls remain in action, there are chances of a move towards the USD 200 level. Conversely, the price could correct lower towards the USD 165 support zone.
Dogecoin (DOGE) is struggling to clear the USD 0.335 resistance level. If it surpasses USD 0.335, the next stop could be USD 0.350. On the downside, the USD 0.320 level is a short-term support. The main support is now forming near the USD 0.300 level.
XRP price formed a base above USD 0.850 and it recently moved higher. XRP climbed above USD 0.880 and it is now rising towards the USD 0.90 resistance zone. A clear break above USD 0.90 could lead the price towards the USD 0.950 level.
Other altcoins market today
Many altcoins gained over 8%, including AMP, DOT, RUNE, KLAY, MATIC, BAT, ENJ, SNX, LINK, FTM, SUSHI, HBAR, ATOM, OMG, and LUNA. Out of these, AMP rallied over 26% and it surpassed the USD 0.08 level.
Overall, bitcoin price is showing positive signs above USD 40,000. The current price action suggests more possible upsides above the USD 41,000 and USD 42,000 levels.