Bitcoin and Ethereum Follow Steady Uptrend, TRX Rallies 30%
Bitcoin price corrected lower from USD 59,800, but it remained in a positive zone. BTC formed a fresh base above USD 58,000 and started a fresh increase. There was a decent increase above USD 58,500 and the price is currently (04:30 UTC) consolidating near the USD 59,000 level.
Similarly, most major altcoins are seemingly gaining pace also. ETH traded to a new multi-day high near USD 1,945 before correcting lower. XRP/USD is stable above USD 0.550 and it might rise towards USD 0.600. Besides, TRX outperformed with a strong move above the USD 0.065 and USD 0.085 resistance levels.
Total market capitalization
After testing the USD 59,800 zone, bitcoin price corrected lower. However, downsides were limited below USD 57,500. BTC started a fresh increase and it climbed back above USD 59,000. An initial resistance is near the USD 59,500 level. The key breakout zone is now forming near the USD 59,800 and USD 60,000 levels.
On the downside, the first major support is near the USD 58,150 level. The next major support is near the USD 57,800 level, below which the price might test USD 57,200.
Ethereum price extended its upward move above the USD 1,900 and USD 1,925 levels. However, ETH failed to surpass USD 1,950. A high was formed near USD 1,945 and the price is now consolidating gains above USD 1,900.
If there are losses below USD 1,900, the price might test the USD 1,850 support. On the upside, a break above USD 1,950 might call for a test of USD 2,000.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is now trading above the USD 300 resistance. An immediate resistance is at USD 315, above which BNB might rally towards the USD 340 resistance. If there is a downside correction, the bulls might remain active near USD 282 and USD 280.
Cardano (ADA) is stuck below the USD 1.200 and USD 1.220 resistance levels. A clear break above USD 1.220 is a must for a move towards USD 1.300 or even USD 1.325. On the downside, the USD 1.165 and USD 1.150 levels are important supports.
Litecoin (LTC) seems to be setting up for a massive bullish break above the USD 200 resistance. If the bulls succeed, LTC might rally towards the USD 240 and USD 250 levels in the next few days. Conversely, it might drop to test USD 165.
XRP price is holding gains above the USD 0.550 support level. It is now approaching the USD 0.585 resistance. The main breakout resistance is still near USD 0.600.
Other altcoins market today
A few altcoins gained over 10%, including TRX, FIL, RUNE, QTUM, ONT, CKB, NEO, CELO, SC, EOS, and OMG. Conversely, KSM, THETA, HBAR, and DENT are trimming gains.
Overall, bitcoin price is trading in a bullish zone above USD 58,000. BTC could correct lower, but the overall structure points to more possible gains above the USD 60,000 level.