Bitcoin Nears USD 60K, Ethereum and Altcoins Show Bullish Signs
Bitcoin price started a steady increase after it cleared the USD 57,000 resistance. BTC broke the USD 58,000 resistance to move into a bullish zone. It is currently (05:30 UTC) trading around USD 59,000 and it might soon retest USD 60,000.
Besides, most major altcoins are showing bullish signs. ETH is back above USD 1,800 and it is facing resistance near USD 1,850. XRP/USD remained well bid above USD 0.450 and it is now recovering.
Total market capitalization
After a successful break above the USD 57,000 resistance, bitcoin price extended its rally. BTC cleared the main USD 58,000 resistance and it even spiked to USD 59,500. It is now consolidating gains and it could resume its upward move towards the USD 60,000 level. The next major resistance sits near the USD 61,200 level.
If there is a downside correction, the previous hurdle at USD 58,200 and USD 58,000 could act as a strong support in the near term.
Ethereum price followed bitcoin and it cleared the key USD 1,800 resistance. ETH is now trading above USD 1,825, but it must gain momentum above USD 1,840 and USD 1,850 for upside continuation.
A failure to clear USD 1,850 might result in a fresh drop to USD 1,800 or USD 1,780. The next major support sits near the USD 1,750 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is up over 7% and it broke many important hurdles near USD 262 and USD 265. BNB is trading above USD 270 and it might continue higher towards USD 280. The next key resistance sits near the USD 288 level.
Cardano (ADA) remains in a strong uptrend and it extended its rally above the USD 1.300 level. ADA even cleared the USD 1.400 resistance and the bulls are now aiming for a test of USD 1.500. If there is a downside correction, the price might find bids near the USD 1.335 and USD 1.332 levels.
Litecoin (LTC) is back above USD 200 and it is trading above USD 205. An immediate resistance is near USD 212, above which LTC might test the USD 225 and USD 230 levels. Any more gains might call for a test of USD 250.
XRP price remained stable above USD 0.450 and it managed to climb above USD 0.465. The price is now rising towards the USD 0.480 and USD 0.488 levels. The next major resistance is near the USD 0.500 level. On the downside, the USD 0.450 level might act as a major support.
Other altcoins market today
Several altcoins gained over 10%, including KNC, CELO, FIL, ZIL, MANA, ZRX, BAT, KSM, NEO, CHZ, ALGO, FTM, 1INCH, CHSB, VET, and OMG. Meanwhile, LUNA, BTMX, and HOT ar down by more than 5%..
Overall, bitcoin price is showing positive signs above the USD 58,000 level. It seems like BTC has completed a downside correction and it could climb back above USD 60,000. However, BTC might surprise as it did many times.