Bitcoin, Ethereum, and Altcoins Show Positive Signs
By Aayush Jindal
Bitcoin price started a fresh increase above the USD 33,500 resistance zone. BTC climbed above the USD 34,000 resistance, but it is currently (04:35 UTC) facing resistance below USD 35,000. A daily close above USD 35,000 could start a steady increase in the near term.
Similarly, most major altcoins are showing positive signs. ETH surpassed USD 2,150, but it must clear USD 2,200 for more upsides. XRP seems to be aiming for a stronger increase above the USD 0.650 resistance.
Total market capitalization
After a downside correction, bitcoin price found support near the USD 32,200 zone. BTC started a fresh increase and it cleared the USD 33,500 resistance. The price even surpassed the USD 34,000 zone. It is now facing a major resistance near the USD 35,000 zone. If there is a close above USD 35,000, the price could start a steady increase. The next key resistance could be USD 36,500.
On the downside, an initial support is near the USD 34,000 level. The first key support is now near USD 33,500, below which the price might test the main weekly support at USD 32,200.
Ethereum price remained well bid above the USD 2,050 level. ETH is now trading above USD 2,120 and USD 2,150. The first key barrier is near the USD 2,200 level. The main weekly resistance is still near the USD 2,250 level.
On the downside, an initial support is near the USD 2,120 level. The main support is near USD 2,050, below which the price could test USD 2,000.
BNB, LTC, DOGE, and XRP price
Cardano (ADA) gained pace and it was able to climb above the USD 1.35 resistance. ADA is now facing resistance near 1.365, above which the bulls might aim for a larger increase towards the 1.40 level. If not, there is a risk of a drop towards the USD 1.32 level in the near term.
Litecoin (LTC) is consolidating near USD 135 and it is facing resistance near USD 140. The main weekly resistance is still near the USD 150 level. if there is a proper close above USD 150, the price could start a strong increase. Conversely, the price could revisit the USD 125 support.
Dogecoin (DOGE) is recovering, but it is lacking bullish momentum for a move above USD 0.220. The next key resistance is near the USD 0.232. The crucial breakout zone now is near USD 0.250, above which the price could surge to USD 0.300.
XRP price is up 5% and it is now showing positive signs above USD 0.640. An immediate resistance is near the USD 0.650 level. A close above USD 0.650 could push the price towards USD 0.700.
Other altcoins market today
Many altcoins gained over 5%, including SNX, EOS, NANO, TEL, RUNE, CRO, KCS, AAVE, AXS, GRT, MIOTA, XTZ, FTT, and COMP. Out of these, SNX rallied almost 23% and it surpassed the USD 13.50 level, before correcting lower again.
Overall, bitcoin price is showing positive signs above the USD 34,000 level. If BTC settles above USD 35,000, there could be a steady increase towards USD 36,500 or even USD 38,000.