Bitcoin Breaks Key Resistance, Ethereum and Altcoins Consolidate
- Bitcoin price extended its rally and climbed above USD 38,000.
- Ethereum is struggling to clear USD 2,640, XRP still eyes USD 0.90.
- KSM rallied over 11%, and DOT is up over 8%.
Bitcoin price remained strong above the USD 36,500 support zone. BTC broke the USD 37,500 resistance to move further into a positive zone. It even cleared USD 38,000 and is currently (12:12 PM UTC) trimming gains.
Besides, most major altcoins are trading in a positive zone. ETH is trading above USD 2,500, but it must clear USD 2,640 for a sustained upward move. XRP/USD might gain pace if it clears the USD 0.90 resistance.
Total market capitalization
After a strong increase above USD 36,500, bitcoin price retained gains. BTC even climbed above the key USD 37,500 resistance level and USD 38,000. The next key resistance is near USD 38,800, above which the price might test the main USD 40,000 resistance zone. A close above USD 40,000 could open the doors for a larger increase.
On the downside, an initial support is near the USD 37,500 level. The first major support is near the USD 37,000 level, below which the price could test USD 36,500 level.
Ethereum price is trading above the USD 2,500 level. ETH is moving higher, but it is facing hurdles near USD 2,640 and USD 2,650. A close above USD 2,650 could open the doors for a steady increase. The next key resistance might be USD 2,800.
On the downside, an initial support is near the USD 2,520 level. The next key support is near the USD 2,475 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) climbed above the USD 365 resistance level. BNB even tested USD 380 and it is now consolidating gains. If it corrects lower, the bulls could appear near the USD 350 level. On the upside, a break above USD 380 could lead the price towards the USD 400 resistance zone.
Litecoin (LTC) is stuck above the USD 165 level and it is facing a major resistance near the USD 180 level. A successful close above this level could set the pace for a move towards the key USD 200 level.
Dogecoin (DOGE) failed to clear the USD 0.350 resistance and corrected lower. It is now trading near the USD 0.335 support. Any more losses may possibly lead the price towards the USD 0.320 level. The next major support is near the USD 0.305 level.
XRP price is struggling to clear the USD 0.900 resistance. If the bulls succeed, the price could rise towards the USD 0.950 level. If not, there is a risk of a drop towards the USD 0.850 level. The next major support is now forming near the USD 0.820 level.
Other altcoins market today
Several altcoins climbed over 8%, including KSM, DOT, QTUM, WBTC, BTCB, NEAR, LUNA, AMP, ZEC, XMR, CRV, and NEO. Out of these, KSM surged above the USD 510 level before correcting lower.
To sum up, bitcoin price is moving into the positive zone. If BTC settles above USD 38,000 and clears USD 40,000, it could start a fresh rally in the near term.
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