Bitcoin, Ethereum and Other Altcoins Primed for More Upsides
Bitcoin price is holding gains above the USD 58,000 level. BTC seems to be struggling to settle above USD 59,200 and USD 59,500. The price is currently (12:00 UTC) showing positive signs and it seems like the bulls might aim a test of the USD 60,000 resistance zone.
Similarly, most major altcoins are likely to continue higher, including ethereum, ADA, EOS, XRP, XLM, LINK, BNB, UNI, THETA, bitcoin cash, DOT, and litecoin. ETH is gaining momentum above USD 1,900 and it seems like there are high chances of a test of USD 2,000. XRP/USD made an attempt to surpass USD 0.600 before correcting to USD 0.555.
Total market capitalization
After a short-term downside correction, bitcoin price climbed back above USD 58,000. BTC is trading nicely above USD 58,000 and it might soon climb above USD 59,000. The price is facing a lot of hurdles near USD 59,200 and USD 59,500. A clear break above USD 59,500 may possibly start a strong increase above USD 60,000.
On the downside, the first major support is near the USD 58,00 level. Any more losses might lead the price towards the USD 57,200 support zone.
Ethereum price remained well bid above USD 1,850 and it is now back above the USD 1,900. ETH is approaching the USD 1,925 level and it could soon test the USD 1,950 resistance. The main resistance is still near the USD 2,000 level.
If there is a fresh decline below USD 1,900, the price could test USD 1,880. The next major support seems to be forming near the USD 1,850 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is up 5% and it is now trading near the USD 315 resistance. A successful break above USD 315 may possibly clear the path for a move towards the USD 335 and USD 340 levels. Any more upsides are likely to lead the price to a new all-time high in the near term.
Cardano (ADA) is consolidating below the USD 1.200 and USD 1.220 resistance levels. A clear break above USD 1.220 could start a steady increase. The next major resistance for the bulls is near the USD 1.300 level. On the downside, the USD 1.165 and USD 1.150 levels are major supports.
Litecoin (LTC) is trading in a range near the US 195 and USD 200 resistance levels. There are high chances of a strong rally if there is a close above the USD 200 level. In the stated case, the price could surge towards the USD 235 and USD 240 levels.
XRP price failed to stay above USD 0.585 and corrected lower. The price is holding above the USD 0.550 support zone. As long as there is no close below USD 0.550, the price might resume its upward move towards the USD 0.600 resistance.
Other altcoins market today
In the past few hours, many altcoins climbed over 10%, including FIL, TRX, DOGE, QTUM, STORJ, ONT, COMP, NEO, AR, DGB, EOS, RUNE, MKR, OMG, LINK, SC, DOT, and XTZ. Out of these, FIL gained 42% and it cleared the USD 215 level.
To sum up, bitcoin price is gaining pace above the USD 58,000 level. BTC is likely to clear USD 59,200 for a fresh test of the USD 60,000 level in the near term.