Bitcoin, Ethereum and Altcoins Gain Bullish Momentum
Bitcoin price broke the key USD 57,000 resistance to move further into a positive zone. It is currently (12:30 UTC) trading well above USD 57,000 and it might accelerate higher towards USD 58,800.
Similarly, most major altcoins are rising and showing positive signs. ETH is up over 3% and it broke the main USD 1,720 resistance zone. XRP/USD is stable above USD 0.550 and it might rise towards USD 0.600.
Total market capitalization
After forming a support base above USD 55,000, bitcoin price started a fresh increase. BTC broke the USD 56,200 and USD 57,000 resistance levels. It even spiked above USD 58,000 and it is now consolidating gains. It seems like the price could continue higher towards the USD 58,800 and USD 59,500 resistance levels.
On the downside, an initial support is near the USD 57,200 and USD 57,000 levels. Any more losses might call for a test of USD 56,000.
Ethereum price also followed bitcoin and it broke the USD 1,720 resistance level. ETH even surpassed the USD 1,750 resistance and it is now showing positive signs. The main hurdle is now forming near USD 1,800, above which the price could rise towards the USD 1,850 level.
On the downside, the USD 1,720 level is now an immediate support. The key breakdown zone is now forming near the USD 1,700 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is gaining pace and it is now trading above the USD 272 resistance. It seems like BNB may soon surpass USD 280 and continue higher. The next major resistance sits near the USD 300 level. On the downside, the USD 265 level is a strong support.
Cardano (ADA) is now trading above USD 1.200 and it may soon attempt an upside break above the USD 1.220 resistance. If the bulls succeed, the price could rise steadily towards the USD 1.300 level. If not, the price could dip back towards the 1.120 support level.
Litecoin (LTC) is again attempting an upside break above the USD 195 and USD 200 resistance levels. If there is a daily close above USD 200, LTC might jump towards the USD 225 resistance level. On the downside, the USD 180 level is now a strong support.
XRP price is consolidating above the USD 0.550 support level. It seems like the bulls are preparing for a rise towards the USD 0.600 level. Conversely, the price could decline to revisit the USD 0.500 support zone in the near term.
Other altcoins market today
Several altcoins climbed over 8%, including HBAR, KLAY, KSM, ONE, HOT, OMG, MANA, FLOW, ZEC, MATIC, GRT, HEN, CRV, and FTM. Out of these, HBAR is gaining pace and it is now trading above USD 0.400.
To sum up, bitcoin price is gaining momentum above USD 57,000. It seems BTC is set for another push towards the USD 60,000 resistance level unless the bears put up a strong fight near USD 58,000.