Bitcoin price formed a strong support base above $ 30,000. As a result, BTC began a steady surge and broke the USD 32,000 resistance. It even surged above $ 32,500 and is currently (04:31 UTC) correcting gains.
Likewise, most of the major altcoins are showing positive signs. ETH gained pace and even surged above the USD 2,000 resistance zone. XRP is up nearly 5% and has even broken the resistance zone of $ 0.550.
Total market capitalization
After Bitcoin price formed a base above $ 30,000, it gained upward momentum. BTC broke the USD 31,000 and USD 32,000 resistance levels. It even soared to over $ 32,500, but there wasn’t a proper closing price. The price is now correcting gains and trading below $ 32,000. The first major support is near $ 31,500, below which it could test $ 31,200.
Initial resistance to the upside is near the USD 32,500 level. A closing price above $ 32,500 could set the pace for a larger move in the short term.
Ethereum price also started a neat rise, similar to Bitcoin. ETH broke the USD 1,850 and USD 1,900 resistance levels. ETH even rose to over $ 2,000 and is now consolidating profits. If there is a closing price above $ 2,000, the price could accelerate upward in the short term.
If it falls again, the price could test the $ 1,920 support. The first major support is now forming near the USD 1,900 mark.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) was up 6% to break the $ 1.15 resistance level. However, ADA is still facing resistance near the $ 1.20 level. A closing price above this level is required for a sustained upward movement in the short term. On the downside, the $ 1.12 level is decent support.
Litecoin (LTC) settled above the USD 112 and USD 115 resistance levels. It is now showing positive signs and could continue to climb above $ 120. The next major resistance is at $ 125, above which the price could test $ 132.
Dogecoin (DOGE) rose above the $ 0.180 and $ 0.195 resistance levels. It even surged above $ 0.200 before correcting back down. To get into a positive zone, the price has to settle above USD 0.205 and USD 0.212. If so, the price could move towards $ 0.250.
XRP price gained pace after breaking the $ 0.535 and $ 0.550 resistance levels. The price is now showing positive signs above $ 0.550. Immediate resistance is near $ 0.580, above which the price could test the $ 0.600 level.
Different Altcoins Market Today
Many altcoins gained over 10%, including AXS, TEL, FLOW, MATIC, STX, SUSHI, AAVE, LUNA, SNX, OKB, THETA, ICP, HNT, UNI and CEL. Of these, AXS rebounded over 30% and broke the $ 22 mark.
Overall, Bitcoin price is showing positive signs above the $ 31,200 level. If BTC levels out above $ 32,000 and $ 32,500, there could be more uptrends in the upcoming sessions.
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