Bitcoin Above USD 58K, Ethereum and Altcoins Gain Momentum
- Bitcoin price gained pace and surpassed the USD 58,000 level.
- Ethereum cleared the USD 3,600 resistance, XRP eyes the USD 1.20 resistance.
- WAVES, DOT, and TEL are up by 15%-26%.
Bitcoin price formed a base above the USD 55,000 level. BTC started a fresh increase and cleared the USD 57,500 resistance. It is currently (04:25 UTC) trading above USD 58,000 and it could continue to gain pace in the near term.
Besides, most major altcoins are also gaining pace. ETH is up almost 4% and it cleared the USD 3,600 resistance zone. XRP is also rising, but it is still well below the USD 1.20 resistance. ADA is aiming an upside break above the USD 2.20 resistance.
Total market capitalization
After a fresh increase above USD 56,500, bitcoin price gained bullish momentum. BTC broke the USD 57,200 and USD 57,500 resistance levels. It is now trading above the USD 58,000 level and is showing positive signs. On the upside, an initial resistance is near the USD 58,500 level. The next key resistance is near USD 59,000, above which the price might rise towards USD 60,000.
On the downside, an initial support is near USD 57,500. The next major support is near USD 57,200, below which the price could revisit USD 56,500.
Ethereum price also followed bitcoin and was able to clear the USD 3,550 resistance level. ETH even surpassed the USD 3,600 level and is showing positive signs. If there is a clear break above USD 3,660, the price could continue to gain pace for a move towards the USD 3,750 level.
If there is no upside break above USD 3,660, the price could correct lower. An initial support on the downside is near the USD 3,600 level. The first key support is now forming near the USD 3,550 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) started a fresh increase above the USD 2.10 and USD 2.12 levels. The price is now trading above USD 2.15 and it could rise steadily towards the USD 2.20 level. Any more gains could set the pace for a move towards the USD 2.32.
Litecoin (LTC) is back above the USD 175 resistance. LTC is now trading near USD 180 and it could gain pace in the near term. The main hurdle is near the USD 185 and USD 188 levels. The next major hurdle for the bulls is near the USD 200 level.
Dogecoin (DOGE) remained well bid above the USD 0.220 level. It is now gaining momentum above the USD 0.232 level. If it clears the USD 0.235 resistance, there could be a steady increase. In this case, the price might rise towards the USD 0.250 level.
XRP price is trading above the USD 1.12 level. An initial resistance is near the USD 1.15 level. The main breakout zone is still near the USD 1.20 level. Any more gains could set the pace for a larger increase towards the USD 1.32 level.
Other altcoins market today
Many altcoins are up over 5%, including TEL, DOT, WAVES, CRV, KSM, VET, XLM, PERP, XDC, UNI, LINK, and ALGO. Out of these, TEL rallied 26% and surpassed the USD 0.022 level.
Overall, bitcoin price is gaining pace above USD 57,500. If BTC clears USD 58,500, there could be a move towards the USD 59,500 and USD 60,000 levels in the near term.