Bitcoin and Ethereum Rise Steadily, BNB Surges Above USD 300
Bitcoin price remained well bid above USD 58,000 and it even climbed above the USD 59,000 level. BTC traded towards the USD 59,500 level before starting a downside correction. It is currently (04:30 UTC) trading below USD 59,000, but the bulls might protect losses below USD 57,200.
Similarly, most major altcoins are trading in a positive zone. ETH spiked above the USD 1,850 resistance before correcting lower. XRP/USD failed to test the main USD 0.600 resistance and revisited USD 0.550.
Total market capitalization
After surpassing the USD 58,000 level, bitcoin price extended its upward move. BTC even broke the USD 59,200 resistance. However, it failed to test USD 59,500. A high was formed near USD 59,350 before there was a downside correction. The price is now trading below USD 59,000, with an immediate support at USD 58,150.
The next major support is near the USD 57,800 level, below which the price might test USD 57,200. On the upside, the price might test the USD 60,000 resistance in the near term.
Ethereum price also followed bitcoin and it cleared the USD 1,820 resistance zone. However, ETH failed to settle above USD 1,850 and it started a pullback from the USD 1,865 zone. It traded below USD 1,825 and it might soon test USD 1,800.
The first major support is now forming near the USD 1,765 level. On the upside, a close above the USD 1,850 level could open the doors for a move towards USD 1,920 or even USD 1,950.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) surged over 10% and it even broke the USD 300 resistance. BNB tested USD 315 and it is now consolidating gains near USD 300. If there is a downside correction, the price could remain stable above USD 285 and USD 280. On the upside, the price could gain momentum above USD 310 and USD 315.
Cardano (ADA) tested the USD 1.235 level and corrected lower below USD 1.200. ADA is now trading near USD 1.185 and it could even revisit the USD 1.165 support zone. On the upside, the main target for the bulls this week might be USD 1.300.
Litecoin (LTC) keeps struggling to settle above the USD 195 and USD 200 resistance levels. Therefore, there is a risk of a decline towards USD 172 or even USD 165. Conversely, the price could surge 15%-20% after there is a successful close above the USD 200 level.
XRP price started an increase towards the USD 0.600 resistance, but it failed near USD 0.585. The price is now correcting lower and trading near USD 0.550. There could be a drop to USD 0.532, but the bulls might remain active as long as the price is above USD 0.500.
Other altcoins market today
Several altcoins gained over 8%, including BTT, HOT, CKB, FIL, OKB, ZRX, XMR, LSK, and CAKE. Out of these, BTT surged close to 40% and it broke the USD 0.005 level.
Overall, bitcoin price is trading above USD 58,000 and USD 57,500. BTC might consolidate in the short-term, but the overall price action suggests a possible move towards the USD 60,000 level.