Bitcoin and Altcoins Face Hurdles Ahead of Possible Lift-Off
After a rebound, bitcoin price started trading in a range above the USD 3,800 support. There are a few positive signs emerging on charts, but BTC/USD must break the USD 3,850 and USD 3,880 resistance levels to gain bullish momentum in the near term. Similarly, ethereum price is holding the USD 135 support and it could make another attempt to clear the USD 138 and USD 140 resistance levels. On the other hand, ripple price already moved higher by more than 3% and broke the USD 0.315 and USD 0.316 resistance levels.
Total market capitalization
There were positive moves in bitcoin price above the USD 3,780 and USD 3,800 support levels. BTC/USD is currently (UTC 08:10 AM) trading with a minor bullish angle, but a break above the USD 3,850 level is needed for a decent upward move. The next key resistances are near the USD 3,880 and USD 3,900 levels.
On the other hand, if buyers fail to break the stated resistance levels, the price could break the USD 3,800 support area. The next main support is near the USD 3,750 level, below which the price could revisit the USD 3,680 support.
Ethereum price rebounded after a sharp drop below the USD 130 level. ETH/USD is currently consolidating above the USD 135 support and it seems like it could soon test the USD 138 and USD 140 resistance levels.
If buyers clear the USD 140 barrier, there could be more upsides towards the USD 145 level. On the downside, a break below the USD 135 support may push the price towards the USD 132 level.
Bitcoin cash, eos and ripple price
Bitcoin cash price is struggling to stay above the USD 130 support level. If there is a bearish break below USD 130, BCH/USD could accelerate losses towards the USD 125 support. On the upside, the main resistance is at USD 134 – USD 135.
EOS retested the USD 3.50 support level and it is currently trading in a range. On the upside, an initial resistance is at USD 3.60, followed by 3.65. The key supports are USD 3.50 and USD 3.42.
Ripple price formed a strong support base above the USD 0.310 level and recently traded higher. XRP/USD broke the USD 0.315 and USD 0.316 resistance levels. The next key resistances are at USD 0.320 and USD 0.322.
Other altcoins market today
In the past few hours, a few small cap altcoins traded higher with bullish moves, including ABBC, HT, STEEM, BNB, ICX, THETA and DGTX.
Out of these, ABBC extended gains by around 45% and BNB is up close to 11%.
The current price action is slightly bullish above the USD 3,800 support, but bitcoin price is facing a lot of hurdles. Only a successful close above the USD 3,900 resistance could clear the path for BTC and altcoins buyers to set the pace for a fresh rally.
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