Bitcoin and Ether Preparing for Next Move, Altcoins Gain Momentum
Bitcoin price corrected lower below the USD 47,000 level, but downsides were limited. BTC is back above USD 47,000 and it seems like the bulls are eyeing a fresh increase above the USD 48,000 level. It is currently (05:00 UTC) showing positive signs, with a major support at USD 46,500.
Besides, most major altcoins are eyeing more upsides. ETH is holding steady above USD 1,750 and it seems like the bulls might aim for a break above USD 1,800. XRP/USD extended its rise above the USD 0.550 and USD 0.580 resistance levels.
Total market capitalization
After testing the USD 46,500 support zone, bitcoin price started a fresh increase. BTC climbed back above USD 47,000 and it is moving higher towards the USD 48,000 level. A close above the USD 48,000 level could open the doors for a steady increase towards the USD 48,500 and USD 48,600 levels.
On the downside, the price could remain stable above USD 47,000. The next key support is at USD 46,500, below which the price might test USD 46,000.
Ethereum price tested the USD 1,740 support zone and it mostly remained in a range. On the upside, the key barrier for the bulls is at USD 1,800. A clear break above the USD 1,800 level could open the doors for a fresh test of USD 1,830. Any more upsides may possibly set the pace for a move towards USD 1,880.
On the downside, the price might remain stable above USD 1,750 and USD 1,740. The next major support is near the USD 1,710 level.
ADA, litecoin and XRP price
Cardano (ADA) is stable above USD 0.880 and USD 0.900. An immediate resistance is near the USD 0.925 level. The first key resistance is near the USD 0.950 level, above which the bulls might aim a break above the USD 1.00 level. On the downside, the USD 0.880 level might act as a strong support.
Litecoin (LTC) is rising steadily towards the USD 190 and USD 192 resistance levels. If the price remains stable above USD 180, there are chances of a break above the USD 195 and USD 200 levels. Conversely, a downside break below USD 180 might call for a test of the USD 165 support.
XRP price extended its rally above the USD 0.550 resistance level. The price cleared the USD 0.580 level and traded close to USD 0.600. It is now consolidating gains and it might make another attempt to clear the USD 0.600 resistance level. On the downside, the USD 0.550 level might provide a strong support.
Other altcoins market today
Many altcoins climbed over 15%, including GRT, NANO, VGX, YFI, OCEAN, ATOM, DGB, FTM, XVG, VET, BAT, and ZRX. Out of these, GRT gained almost 70% and moved above USD 2.7..
Overall, bitcoin price is showing positive signs above USD 47,000. If BTC climbs above USD 48,000, the bulls might aim for a new all-time high in the near term.