In the past two sessions, bitcoin saw a bullish move above the USD 23,000 level. BTC climbed higher above the USD 23,200 and USD 23,500 resistance levels. It is currently (05:00 UTC) showing positive signs, but there are still many key hurdles on the upside near USD 23,880 and USD 24,000.
Similarly, most major altcoins started a recovery wave, including ethereum, XRP, EOS, XLM, LINK, BNB, XRP, TRX, bitcoin cash, litecoin, and ADA. ETH/USD is now back above the USD 600 and USD 605 levels. XRP/USD is up over 25% and it even spiked above the USD 0.350 resistance.
Total market capitalization
After another downside correction, bitcoin price found support and remained stable above the USD 22,700. BTC started a fresh upward move and broke the USD 23,200 and USD 23,500 resistance levels. The price is now trading in the positive zone, with an initial hurdle near the USD 23,880 level. The main resistance on the upside is still near the USD 24,000 level.
On the downside, the first major support is near the USD 23,200 level. The next major support is near the USD 23,000 level, below which the price could revisit the USD 22,700 region.
Ethereum price started a steady rise from the USD 550 support level. ETH broke the USD 595 and USD 600 resistance levels to move back into a positive zone. The price is now trading close to USD 610 and it could soon attempt a test of the key USD 620 resistance level.
An initial support on the downside is near the USD 600 level. The first major support is near the USD 595 level, below which the bulls might protect USD 588.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is up over 6% and it broke the USD 290 resistance level. BCH is now trading just above USD 295 and it is facing a strong resistance near USD 300. A close above the USD 300 and USD 302 levels may perhaps open the doors for a larger increase in the coming sessions.
Litecoin (LTC) is up over 5% and it is approaching the USD 110.00 and USD 112.00 resistance levels. If LTC surpasses USD 112.50, it could grind higher towards the USD 120.00 and USD 125.00 resistance levels. If there is a downside correction, the USD 102.00 and USD 100.00 levels might provide support.
XRP price recovered over 25% and it climbed above the USD 0.288 and USD 0.300 resistance levels. The price even surged above USD 0.320 and spiked above USD 0.350. The price is now consolidating above the USD 0.300 region and it might continue to trade in a range before the next major move.
Other altcoins market today
In the past few hours, many altcoins gained over 10%, including XLM, ENJ, THETA, ATOM, SC, CHSB, ZRX, NEO, ADA, CEL, MIOTA, LRC, NEXO, OMG, ONT, QTUM, and EOS. Out of these, XLM rallied above the USD 0.155 resistance.
Overall, bitcoin price is back in a positive zone above USD 23,500. On the upside, the bulls are facing an uphill task near the USD 23,880 and USD 24,000 levels, above which BTC could rally significantly.