Bitcoin Inches Higher, Ethereum and Altcoins Accelerate
Bitcoin price started a strong surge above the USD 35,000 resistance. BTC even traded close to USD 40,000 before it corrected gains. It is currently (12:29 UTC) consolidating above USD 38,500 and it might accelerate higher.
Similarly, most major altcoins are showing bullish signs. ETH is now trading above the USD 2,300 resistance zone. XRP might rise towards the USD 0.700 resistance zone.
Total market capitalization
After a strong rally, fuelled by Amazon-related speculation and a short squeeze, bitcoin price struggled to surpass the USD 40,000 resistance. BTC started a downside correction below the USD 39,000 level. It is now consolidating above the USD 38,500 zone. An initial support on the downside is near the USD 38,000 level. The first major support is now forming near the USD 37,800 level, below which the price could test USD 37,200.On the upside, an immediate resistance is near USD 39,200, above which the price might revisit the USD 40,000 resistance zone.
Ethereum price gained pace after it broke the USD 2,250 resistance zone. ETH is now trading above USD 2,300. The first key barrier is near the USD 2,350 level. If the bulls remain in action, the price might test the USD 2,420 resistance level in the near term.If there is a downside correction, the price could find bids near the USD 2,280 level. The next major support is near the USD 2,250 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is up 10% and it is showing positive signs above the USD 1.30 level. ADA might continue higher towards the USD 1.38 level. The main breakout zone is now near the USD 1.40 level. On the downside, the price might remain stable near the USD 1.30 level.Litecoin (LTC) is trading above the USD 135 level. It is now facing a major hurdle near the USD 140 level. A close above the USD 140 level could set the pace for a move towards the USD 150 level. On the downside, the price might remain stable near the USD 130 level.Dogecoin (DOGE) broke the USD 0.220 resistance. It seems like the bulls are gaining strength above the USD 0.220. If they remain in action, the price could test the USD 0.25 level in the near term. On the downside, the USD 0.200 level is a decent support.XRP price is accelerating higher above the USD 0.635 and USD 0.655 resistance levels. An immediate resistance is near the USD 0.680 level. The next major resistance on the upside is near the USD 0.700 level, where the bulls might face resistance.
Other altcoins market today
Many altcoins climbed over 15%, including AMP, RUNE, BTT, VET, ZIL, HOT, HBAR, AAVE, FTM, MATIC, SUSHI, QTUM, and LINK. Out of these, AMP is still holding gains above the USD 0.070 level.
To sum up, bitcoin price is showing bullish signs above USD 37,200 and USD 38,000. However, a close above USD 40,000 is a must for further gains._____