Bitcoin and Altcoins Gaining Bullish Momentum
Yesterday, we discussed important supports for bitcoin above USD 3,660. BTC/USD formed a support base and later started an upward move above the USD 3,750 and USD 3,800 resistance levels. The price is now (UTC 08:10 AM) trading in a bullish zone and it could test the USD 3,900 and USD 4,000 resistance levels. Ethereum price also gained traction and broke the USD 130 and USD 132 resistance levels. ETH/USD broke the USD 135 resistance and it could extend upsides towards USD 140. Ripple price also traded higher, but upsides were contained by the USD 0.315 resistance level.
Total market capitalization
There was a strong bullish wave in bitcoin price above the USD 3,750 resistance. BTC/USD surged above the USD 3,780 and USD 3,800 resistance levels. The price is currently up more than 3%, with an immediate resistance at USD 3,880 and USD 3,900. If the price continue to move higher, it could rally towards the USD 3,950 and USD 4,000 levels.
On the other hand, if there is a downside correction, the USD 3,800 level might act as a support. The next supports are near the USD 3,780 and USD 3,750 levels.
Ethereum price rallied more than 7% and broke the USD 130 and USD 132 resistance levels. ETH/USD is currently trading above USD 135 and it seems like buyers are aiming for the USD 140 resistance level.
A break above the USD 140 resistance could push the price towards USD 144. On the downside, an initial support is at USD 134, below which the price could revisit the USD 130 – USD 132 support area.
Bitcoin cash, eos and ripple price
Bitcoin cash price bounced back from the USD 120 support. BCH/USD broke the USD 128 and USD 130 resistance levels to move into a positive zone. The next key resistance is at USD 132, followed by USD 135.
EOS surged more than 14% and broke many resistances such as USD 3.40, USD 3.50 and USD 3.65. The price is trading above the USD 3.70 level and it seems like there could be more gains towards the USD 3.85 resistance in the near term.
Ripple price traded above the USD 0.308 and USD 0.310 resistance levels and overcame selling pressure. However, XRP/USD seems to be facing a strong resistance near the USD 0.314 and USD 0.315 levels, above which it could retest USD 0.320.
Other altcoins market today
In the past three sessions, many small cap altcoins rallied and a few gains more than 10%, including BTG, ABBC, ENJ, AOA, DGTX, QNT, THETA, ONT and XIN. Out of these, BTG rallied more than 21% and ABBC is up close to 20%.
Overall, bitcoin moved back in a positive zone, with a close above the USD 3,800 resistance level. The current price action is positive and it seems like BTC could attempt to surpass the USD 3,900 and USD 3,950 resistance levels in the coming sessions.
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