Bitcoin price formed a base above the USD 31,000 and USD 32,000 levels. BTC started a decent recovery wave above the USD 33,500 resistance. It is currently (12:14 PM UTC) trading above USD 34,000 and might attempt an upside break above USD 35,000.
Similarly, most major altcoins are recovering higher. ETH traded above the USD 2,450 resistance and climbed above USD 2,500. XRP/USD is consolidating above USD 0.85 and is trying to move towards USD 0.90.
Total market capitalization
Bitcoin price
After an extended decline, bitcoin price found support near the USD 31,000 zone. BTC started a decent recovery wave and it climbed above USD 32,500, following the news that BTC will officially become legal tender in El Salvador. The bulls were able to push the price above the USD 35,000 level. The price is now showing a few positive signs, but there are still key hurdles near USD 35,500.
On the downside, an initial support is near the USD 34,000 level. The next key support is near the USD 33,500 level, below which the price might slide towards USD 32,000.
Ethereum price
Ethereum price is also recovering from the USD 2,300 zone. ETH broke the USD 2,450 resistance level and it even moved above USD 2,500. The main breakout resistance is near the USD 2,550 level, above which the price might move into a positive zone.
If not, the price could start a fresh decline below the USD 2,450 support level. The next key support is near the USD 2,380 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) started a fresh increase from the USD 320 support. BNB gained pace and it climbed above the USD 350 level. The first major resistance is near the USD 365 level, above which it could test the USD 380 resistance. On the downside, the USD 335 level is a decent support.
Litecoin (LTC) remained stable above USD 150 and it is inching higher. An immediate resistance is near the USD 165 level. A clear break above the USD 165 level could set the pace for a test of USD 180. Conversely, the price could retest the USD 140 support.
Dogecoin (DOGE) is forming a base above the USD 0.318 and USD 0.320 levels. An initial resistance is near the USD 0.335 level. The first major resistance is near USD 0.350, above which the price could rise towards USD 0.400.
XRP price is consolidating above the USD 0.850 support zone. The price is now showing a few positive signs, but it is facing many hurdles near USD 0.880 and USD 0.900. On the downside, the price might remain stable near USD 0.820.
Other altcoins market today
Many altcoins climbed over 5%, including BTG, SOL, AMP, ALGO, TFUEL, HNT, TEL, DGB, KSM, THETA, COMP, ZRX, and CRV. Out of these, AMP rallied almost 29% and it cleared the USD 0.05 level. Meanwhile, ICP, CEL, and LEO are down 6%-12%.
To sum up, bitcoin price is recovering and it cleared the USD 35,000 level. If BTC climbs above USD 35,500, it could gain stronger bullish momentum.
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Source: Cryptonews
