Bitcoin price settled above the USD 39,500 level. BTC is currently (04:42 UTC) eyeing more gains above USD 40,000 and USD 40,500 that could set the pace for a larger increase towards USD 42,000.
Besides, most major altcoins are rising steadily. ETH must settle above USD 2,325 and USD 2,350 for upside continuation. XRP holds its gains after it surged over 10% and broke the USD 0.70 barrier yesterday.
Total market capitalization
Bitcoin price
After a minor drop, bitcoin price started a fresh increase above the USD 39,000 level. BTC even broke the USD 39,500 resistance. However, the price is struggling to settle above USD 40,000. A close above USD 40,000 could set the pace for a larger increase in the near term. The next major resistance is seen near the USD 42,000 level.
On the downside, the USD 39,400 level is a short-term support. The next key support is near USD 38,800, below which the price might test USD 38,000.
Ethereum price
Ethereum price is stable above the USD 2,200 support level. However, ETH is facing a major hurdle near USD 2,325 and USD 2,350. To continue higher, the price must settle above USD 2,350. In this case, the price might accelerate higher towards the USD 2,450 level.
If there is no upside break, the price might correct lower below USD 2,250. The first key support is near USD 2,200. A close below USD 2,200 could set the pace for a larger decline.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is consolidating above the USD 1.250 pivot level. On the upside, ADA is facing resistance near USD 1.30. The next key resistance is near USD 1.32, above which the bulls might test USD 1.40. Conversely, the bulls might remain active near USD 1.22 and USD 1.20.
Litecoin (LTC) is struggling to settle above the USD 142 resistance level. If LTC breaks this level, it might test USD 150. Any more gains could set the pace for a steady move towards the USD 165 level. On the downside, the price might find bids near USD 130.
Dogecoin (DOGE) is consolidating above the USD 0.200 level. If DOGE gains pace above USD 0.212, it could start a stronger recovery. If not, there is a risk of a break below the USD 0.200 and USD 0.188 support levels. The next major support is near the USD 0.165 level.
XRP price started a strong rally above the USD 0.650 level yesterday. XRP is still up over 10% and it even broke the USD 0.700 resistance. The current price action suggests chances of more upsides above USD 0.712 and USD 0.720.
Other altcoins market today
A few altcoins gained over 5%, including RUNE, LUNA, QNT, HNT, AMP, LEO, FTM, and ICX. Out of these, RUNE rallied over 31% and it even surpassed the USD 5 level.
Overall, bitcoin price is trading in a positive zone above the USD 39,500 level. If BTC gains pace above USD 40,000, the bulls might test USD 42,000 in the near term.
_____
Source: Cryptonews
