Bitcoin price remained in a positive zone after it broke the USD 36,000 zone. BTC is now consolidating and it might be preparing for a potential upside break above USD 38,000. It is currently (12:20 PM UTC) trading well above USD 36,000, with a major hurdle near USD 37,800 and USD 38,000.
Besides, most major altcoins are eyeing more upsides. ETH settled above the USD 2,550 level and it could attempt a break above the USD 2,750 resistance. XRP/USD is consolidating above the USD 1.0 level and it might test the USD 1.10 resistance.
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Bitcoin price
After a break above the USD 36,500 resistance, bitcoin price struggled to clear the USD 38,000 resistance. BTC corrected lower, but it remained well bid above the USD 36,000 zone. It is showing positive signs, with an immediate resistance at USD 37,800. The main resistance is near the USD 37,800 and USD 38,000 levels. A close above USD 38,000 might call for a test of the USD 40,000 level.
On the downside, the USD 36,000 zone is a major support. The next key support is near the USD 35,500 level.
Ethereum price
Ethereum price tested the USD 2,750 level before correcting lower. The price is now consolidating above USD 2,600. If there is a fresh increase, the price might face a strong resistance near the USD 2,750 zone. A clear break could set the pace for a larger increase towards USD 2,850 and USD 2,880.
On the downside, the USD 2,550 level is a major support. Any more losses may possibly call for a test of the USD 2,500 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is stuck near the USD 350 level. BNB is facing a major resistance near the USD 365 level. A clear break above USD 365 could open the doors for a move towards USD 385. The next key resistance is near the USD 400 level.
Litecoin (LTC) is showing positive signs near the USD 180 level. However, LTC might face a strong selling interest near the USD 195 and USD 200 levels. If the bulls push the price above USD 200, the price could surge towards USD 225.
Dogecoin (DOGE) is consolidating near the USD 0.320 level. An initial resistance is near the USD 0.335 level. The main breakout resistance is near USD 0.350, above which the price might climb towards the USD 0.400 level.
XRP price is showing positive signs above the USD 1.0 resistance zone. It might rise further, but the bears could remain active near the USD 1.10 resistance zone. Conversely, a break below USD 1.0 might call for a test of USD 0.920.
Other altcoins market today
A few altcoins climbed over 5%, including THETA, KSM, TFUEL, DGB, SHIB, XDC, MDX, VET, ZRX, and MKR. Out of these, THETA rallied over 15% and it surpassed USD 7.50.
To sum up, bitcoin price seems to be preparing for the next major move towards USD 40,000. If BTC fails near USD 38,000 one more time, it could dive to test USD 35,000.
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Source: Cryptonews
