Bitcoin price is trading above the USD 57,000 support zone. BTC has already tried to settle above USD 58,000 and it seems like it could make another try. Currently (12:30 p.m. UTC) it is trading in an area above the main support zone of USD 57,000.
Similarly, most of the major altcoins have an upward pause in mind. ETH is nearing the $ 1,800 level and could gain momentum if there is a break above $ 1,820. Conversely, XRP / USD rebounded and broke many hurdles near USD 0.550.
Total market capitalization
For the last two sessions, Bitcoin price has mostly traded in an area above the USD 57,000 support zone. BTC is still struggling to settle above USD 58,000. A successful close above USD 58,000 and a follow-up step above USD 58,500 could set the pace for a sharp increase. In that case the price could test USD 60,000.
On the other hand, USD 57,200 and USD 57,000 are important supports. A significant break below USD 57,000 could require a decline to the USD 55,000 level.
The price of Ethereum is picking up pace and is approaching the USD 1,800 resistance. ETH could gain momentum above the USD 1,800 and USD 1,820 levels. In this case, the price may even clear the USD 1,850 resistance zone.
Should it decline again, the $ 1,750 level could provide strong support. The next major support is near the USD 1,710 level.
BNB, ADA, Litecoin and XRP prices
Binance Coin (BNB) is showing positive signs above the USD 265 level. If the BNB clears the USD 272 and USD 275 resistance levels, the price could gain momentum for a boost above USD 280. The next major resistance is near the USD 288 level. On the downside, the USD 250 level is an important support.
Cardano (ADA) consolidates above the USD 1,150 level. ADA could accelerate higher if there is a significant break above USD 1.220. The next major resistance is near the USD 1.332 level. On the flip side, the price could remain stable above the $ 1.112 level.
Litecoin (LTC) is still struggling to gain momentum above the $ 200 level. If there is a daily close above USD 205 there is a possibility of pressure towards the USD 225 level. On the other hand, the bulls could remain active near the USD 180 level.
The XRP price outperformed Bitcoin and Ethereum as it gained over 12%. The bulls pushed the price above the USD 0.545 and USD 0.550 levels. The next major resistance is at USD 0.580, above which the price could test USD 0.600. On the downside, the price could find buyers near USD 0.550.
Other altcoin market today
Several altcoins rose over 8% including DENT, THETA, SOL, BTT, ONE, TFUEL, KSM, CHSB, CAKE, HBAR, FTM, NPXS and STX. Of these, DENT rose by over 50% and could continue to rise.
In summary, the Bitcoin price holds the main support zone of USD 57,000. However, BTC has to settle for a sustained upward move above USD 58,000 and USD 58,500.
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