Bitcoin Returns Above USD 30K, Ethereum, Altcoins Rally
Bitcoin price found support above USD 29,250 and started an upside correction. BTC climbed above the USD 30,000 level and is currently (04:31 UTC) showing recovery signs. If it succeeds to stay above USD 30,000, the price could test the USD 31,000 resistance.
Similarly, most major altcoins are attempting an upside correction. ETH recovered above the USD 1,750 and USD 1,780 resistance levels. XRP is holding the USD 0.520 support zone, but it might face hurdles near USD 0.550.
Total market capitalization
After a downside break below USD 30,000, bitcoin price took a strong stand near USD 29,300. BTC formed a base and broke a major resistance near USD 30,000 and USD 30,200. If there is a close above USD 30,000, the price might recover towards the USD 31,000 resistance zone.
On the downside, the USD 29,500 level is a minor support. The key support for the next leg lower is near the USD 29,250 level.
Ethereum price also found a decent support base above the USD 1,720 level. ETH is recovering and it is trading above USD 1,850. The next key resistance is near the USD 1,880 level.
If there is a fresh decline, the price might test the USD 1,750 level. The main breakdown support is now forming near the USD 1,720 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) tested the USD 1.02 support level and it is now back above USD 1.10. After breaking this level, the price could rise towards USD 1.20.
Litecoin (LTC) spiked lower and tested the USD 105 support. It is now consolidating losses and it is trading near USD 110. An immediate resistance is near USD 112, above which the price might recover towards USD 120 level. On the downside, the bulls could remain active near USD 100 and USD 102.
Dogecoin (DOGE) spiked below the USD 0.165 support and traded close to USD 0.155. It is now up almost 11% and is trading near the key resistance level of USD 0.180, followed by the USD 0.200 breakout zone.
XRP price spiked below the USD 0.520 support zone. The price is now recovering and it is testing USD 0.55. Any more gains could set the pace for a move towards USD 0.600.
Other altcoins market today
Several altcoins recovered over 8%, including RUNE, FLOW, COMP, AXS, XEM, FTT, ENJ, STX, CELO, HT, QNT, DOGE, ONE, DCR, RVN, and MANA. Out of these, RUNE gained over 15% and it broke the USD 3.80 level.
Overall, bitcoin price is attempting an upside correction above USD 29,800. If BTC settles above USD 30,000, it could recover towards USD 31,000 and USD 31,200.