Bitcoin price gained strength and it was able to clear the key USD 35,000 resistance level. It opened the doors for more upsides and BTC even cleared the USD 36,000 resistance. It is currently (05:00 UTC) up almost 8%, with immediate hurdles near USD 37,000 and USD 37,200.
Similarly, most major altcoins are showing positive signs. ETH/USD outperformed with a break above the USD 1,450 and USD 1,500 resistance levels. XRP/USD is now consolidating above USD 0.350 and USD 0.365.
Total market capitalization
After a successful break above the USD 35,000 resistance, bitcoin price started a steady increase. BTC broke the USD 35,800 and USD 36,000 resistance levels to move further into a positive zone. The first key resistance is near the USD 37,000 level. The next key hurdle sits at USD 37,200, above which the price could revisit the USD 38,000 level.
On the downside, the USD 36,200 level is a short-term support. The next major support is at USD 35,800, below which the price could test the USD 35,000 support zone.
Ethereum price is up over 12% and it broke many important resistances near USD 1,450 and USD 1,500. ETH even cleared the USD 1,550 level and traded to a new all-time high. The current price action suggests there are chances of more gains above the USD 1,575 and USD 1,580 levels.
If there is a downside correction, an initial support is near the USD 1,520 level. The first major support sits at USD 1,500, where the bulls could remain active.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is up 5% and it is approaching the USD 440 resistance level. The next key resistance is at USD 450. A clear break above USD 450 might accelerate gains. In this case, BCH might climb above the USD 465 resistance level. On the downside, the USD 435 level is now a decent support in the short-term.
Litecoin (LTC) rallied over 12% and it even broke the main USD 150 resistance. LTC is showing positive signs and it might continue higher towards the USD 160 and USD 162 levels. If there is a downside correction, the USD 145 level might provide support.
XRP price is stable above the USD 0.350 and USD 0.365 support levels. On the upside, an initial resistance is near the USD 0.392 level. The main resistance is now forming near the USD 0.400 level. A daily close above USD 0.400 might set the pace for a larger increase towards USD 0.440 or USD 0.465.
Other altcoins market today
Many altcoins gained over 10%, including FTM, UMA, SC, LUNA, QNT, RSR, MKR, CHSB, MANA, HEDG, BTT, FTT, KSM, and YFI. Out of these, FTM surged 45% and it traded above the USD 0.140 level.
Overall, bitcoin price is gaining momentum and it could accelerate above USD 37,000 and USD 37,200. If there is a fresh decline, BTC bulls might protect USD 35,000.