Bitcoin Aims Higher While Ethereum and Altcoins Rise
- Bitcoin price is eyeing an upside break above USD 20,500.
- Ethereum may rise further above USD 1700, XRP may soon test USD 0.35.
- SOL, NEAR and EOS are up over 6%.
Bitcoin price is still trading below the central resistance zone of USD 20,500. BTC is currently (11:20 UTC) consolidating near the USD 20,000 pivot zone. To start a new rally, the price must exceed USD 20,200 and USD 20,500.
Also, most major altcoins are slowly moving higher. ETH made up above USD 1650 and may rise further above USD 1700. XRP is looking for more gains above the USD 0.35 resistance. ADA is showing positive signs above the USD 0.50 resistance.
Bitcoin price
In recent sessions, bitcoin price has been trading in an area above the USD 19,500 resistance. Recently, BTC struggled to gain bullish momentum above the USD 20,000 resistance. The first key resistance is near the USD 20,200 zone. The main obstacle remains near the USD 20,500 level, above which the price could start a strong upward movement.
If there is no upside break above the USD 20,500 level, the price may react to the downside. On the downside, an initial support is near the USD 19,650 level. The next major support is still near the USD 19,500 zone, below which the price could fall sharply.
Ethereum price
Ethereum price outperformed bitcoin with a strong move above the USD 1,620 resistance. The price even cleared the USD 1,650 level. It is now showing positive signs and may test the USD 1700 level. The next major resistance is near USD 1,720, above which the price may rise towards USD 1,800.
On the downside, an initial support is now near the USD 1,620 level. The next major support is USD 1,600, below which there is a danger of a sharp downside correction.
ADA, BNB, SOL, DOGE and XRP price
Cardano (ADA) accelerated higher above the $0.48 resistance. The price gained momentum for a move above the USD 0.50 resistance. If the bulls remain in action, it could soon test $0.52.
BNB is eyeing an upside break above the USD 282 zone. The next major resistance is near USD 288, above which the price could rise towards USD 300.
Solana (SOL) is up over 6% and is trading above the $33.00 zone. An immediate resistance is near the USD 33.50 level, above which the price could even clear USD 35.
DOGE is trading in an area above the USD 0.062 level. The first major resistance is near the USD 0.0650 level, above which it could rise towards USD 0.0680.
XRP price is slowly moving higher above the USD 0.335 resistance zone. Next resistance is near USD 0.35. A close above USD 0.35 could pump the price towards the USD 0.40 level.
Other altcoins market today
Many altcoins are steadily rising, including DOT, MATIC, SHIB, AVAX, ETC, UNI, NEAR, BCH, EOS, AAVE, EOS and GRT. Out of these, ETC is still showing bullish signs above the USD 40 level.
To summarize, bitcoin price is showing signs of an upside break above the USD 20,200 and USD 20,500 levels. If the bulls succeed, BTC could start a decent move up.
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