Bitcoin price remained well above the $ 36,000 and $ 36,250 bid levels. As a result, BTC began rising again above the USD 38,000 resistance. It rose 8%, tested the $ 40,000 mark, and is currently (04:01 UTC) showing positive signs.
Likewise, most of the major altcoins are gaining strength. ETH gained 5% and tested the USD 2,300 resistance zone. XRP is also showing positive signs and could continue to hover above $ 0.650.
Total market capitalization
After a downward correction, Bitcoin price found support above the $ 36,250 level. BTC formed a base and began to surge again. There was a significant break above the $ 38,000 and $ 38,500 resistance levels. However, the bulls are struggling to gain over $ 40,000 in strength. A closing price above this level could accelerate gains in the short term.
On the downside, the $ 39,250 level is a decent support. The next major support is at $ 38,500, below which the price could test $ 37,800.
Delta Exchange CEO Pankaj Balani said he expected BTC to continue pushing higher while ETH, altcoins will follow suit. According to him, the current momentum is strong and it will come as no surprise that BTC is expanding the trading range up from $ 30,000 to $ 42,000 and is trying to move towards $ 45,000.
“Only a conclusive break above $ 50,000, however, would attract new flows and signal a change in the broader direction for the market,” the CEO wrote in a comment emailed to Cryptonews.com.
Ethereum price also followed a similar pattern out of the USD 2,150 support zone. ETH climbed back above the USD 2,200 and USD 2,250 resistance levels. If the bulls remain active, the price could rise above USD 2,300.
On the flip side, the price could remain stable above the $ 2,200 level. The next major collapse support is now forming near the $ 2,150 mark.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) is gaining pace above the $ 1.25 resistance. Immediate resistance is near the $ 1.30 level. A proper break above $ 1.30 could set the pace for a move towards $ 1.35. If not, the price could retest the USD 1.20 support zone in the near future.
Litecoin (LTC) is up nearly 5% to beat the USD 132 resistance. The price is now trading near $ 135 and could test the $ 140 resistance. Further gains could open the doors for a move towards the USD 150 level. On the downside, the $ 130 level is decent support.
Dogecoin (DOGE) is back above the $ 0.20 level but lacks upward momentum. Immediate resistance is near $ 0.212. The first major resistance is near USD 0.220, above which there is a chance of a move towards USD 0.250.
XRP price gained traction, breaking the $ 0.632 resistance zone. The price is now approaching the $ 0.650 resistance. If the bulls manage to clear $ 0.650, they could aim for a test of $ 0.680. The next major resistance is at $ 0.700.
Different Altcoins Market Today
In the past few hours, many altcoins have gained over 10%, including AXS, ANKR, OKB, BTT, HT, MIOTA, LUNA, TEL, HBAR, FLOW, ICP and SC. Of these, AXS gained almost 24% and exceeded the USD 45.00 level. At the time of writing, there are no coins in red among the top 100 crypto assets by market capitalization.
Overall, Bitcoin price is picking up pace and could rise above $ 40,000. If not, there is a risk of moving towards the USD 37,800 support zone.
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