Bitcoin price did not stay above USD 59,000 and was corrected lower. BTC traded below the USD 58,500 and USD 58,000 support levels. Currently (04:00 UTC) it is trading above USD 57,000 and it appears to be gearing up for the next big move.
Also, most of the major altcoins are slowly gaining pace. ETH is trading above USD 2,080 with signs of further gains above USD 2,150. XRP / USD continues to outperform and is now trading above the USD 1.00 level.
Total market capitalization
After bitcoin price struggled above $ 59,000, it corrected it lower. BTC broke the USD 58,000 support zone but the bulls were active above the USD 57,200 support. It is now trading above USD 57,000 and is approaching the USD 58,000 resistance. The first major resistance is at $ 58,500, above which the price could rise towards $ 59,500 and $ 60,000.
On the flip side, the USD 57,200 and USD 57,000 levels are important supports. Further losses could require a longer decline towards USD 55,500.
Ethereum’s price also corrected lower than the all-time high of USD 2,155. ETH was trading below USD 2,100 but remained well bid near USD 2,050. There has been a fresh move above the USD 2,100 level but the bulls need to clear USD 2,120 for a new rally.
On the other hand, the USD 2,080 and USD 2,050 levels are key zones. Further losses could lead the price towards USD 2,000.
BNB, ADA, Litecoin and XRP prices
Binance Coin (BNB) hit a new all-time high, even breaking the USD 400 level. The BNB is consolidating above USD 400 and it seems that the bulls are not done yet. The next stop for them could be near the USD 422 and USD 425 levels.
Cardano (ADA) eventually gained strength above the USD 1.220 resistance. ADA even passed the $ 1.250 level and is now trading near $ 1.265. It could continue to rise towards USD 1,300 and USD 1,325. On the downside, the previous resistance at USD 1,200 is now a major support.
Litecoin (LTC) extended its rally above the USD 232 resistance and tested the USD 245 resistance. LTC is now consolidating near $ 235 and could make another attempt to clear the $ 245 and $ 250 resistance levels. If not, it could correct lower towards USD 225.
The XRP price started a sharp rise clearing many hurdles near USD 0.800 and USD 1.00. It even surged above USD 1.10 and is now trading well above USD 1.00. There could be a decline in the short term, but the bulls could remain active near USD 1.00.
Other altcoin market today
Many altcoins gained over 10%, including QTUM, HNT, BTG, KCS, OMG, XEM, Berufsbildung, EGLD, ETC, DOGE, SOL, NEAR, NEO and LINK. Of these, QTUM rose by over 40% and is now approaching the level of USD 20.0.
Overall, Bitcoin price is in a range above the USD 57,000 support. The general price move remains positive, indicating a possible rebound above the USD 58,500 resistance.
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