Bitcoin price extended its rise above the USD 59,500 resistance. BTC even spiked above the USD 60,000 resistance before correcting lower. It is currently (05:30 UTC) trading well above USD 59,000 and it might climb above USD 60,000 in the near term.
Similarly, most major altcoins are signaling more upsides. ETH is up 4% and it even tested the main USD 2,000 resistance zone. XRP/USD is consolidating above USD 0.550 and it might soon attempt a break above USD 0.600.
Total market capitalization
There was a steady increase in bitcoin price above the USD 59,200 and USD 59,500 resistance levels. BTC even spiked above USD 60,000 and tested USD 60,120. It is now consolidating gains near USD 59,500, with an initial support at USD 59,200. The first major support is now forming near the USD 58,800 level.
On the upside, a daily close above the USD 60,000 level could open the doors for a move towards the USD 61,800 and USD 62,000 levels.
Ethereum price outperformed bitcoin and it gained nearly 4%. ETH broke the USD 1,950 resistance and it even spiked above the USD 2,000 resistance. The price is now consolidating gains and it seems like it could rise further towards USD 2,040 and USD 2,100.
If there is a downside correction, an initial support is seen near the USD 1,975 level. The first major support is near the USD 1,950 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) rallied over 12% and it broke many hurdles near USD 315 and USD 335. BNB even surpassed USD 340 and it might accelerate further above USD 355. The next major stop for the bulls may be USD 380. On the downside, the USD 335 and USD 322 levels are decent supports.
Cardano (ADA) is still consolidating below the USD 1.200 and USD 1.220 resistance levels. A close above USD 1.220 is a must to start a steady increase. The next major resistance sits at USD 1.300. On the downside, the USD 1.165 and USD 1.150 levels are key supports.
Litecoin (LTC) is now showing positive signs above the main USD 200 resistance level. It seems like LTC bulls are back in action and they are aiming for a rally towards USD 240. The next major target for the bulls could be USD 250. On the downside, the USD 195 level is a decent support.
XRP price is now well below the USD 0.600 resistance level. However, as long as the price is above the USD 0.550 support, there are chances of a clear break above the USD 0.600 resistance. If not, it could drop to USD 0.500.
Other altcoins market today
Several altcoins gained over 10%, including HNT, DENT, EOS, ANKR, EGLD, SC, DOGE, BTT, FTM, SNX, and MKR. Out of these, HNT rallied over 30% and it cleared the USD 14.50 level. Meanwhile, SOL, ICX, and FLOW are down by 7%-9%.
Overall, bitcoin price is gaining momentum and it might settle above USD 60,000. If not, there could be a downside correction towards the USD 58,000 support level in the near term.
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