Bitcoin price gained bullish momentum above the $ 38,500 resistance level. BTC even cleared $ 40,000 to move further into a positive zone. It is currently (04:30 UTC) consolidating gains and could resume its upward move above $ 41,000.
Also, most of the major altcoins are slowly moving higher. ETH broke through the resistance at $ 2,550 and is now facing hurdles near $ 2,650. XRP / USD is recovering and it could pick up pace if it clears $ 0.90.
Total market capitalization
After a successful break above $ 38,500, the price of bitcoin extended its upward movement. BTC even broke the $ 39,500 and $ 40,000 resistance levels. It tested the $ 41,100 zone and is currently consolidating gains. An immediate support on the downside is near the $ 40,000 level. The first major support is near the $ 39,500 level.
On the upside, the price is facing resistance near $ 40,800 and $ 41,000. The next key stop could be near the $ 42,000 level in the coming sessions.
Ethereum price started a steady rise and cleared the $ 2,500 resistance. ETH even broke above $ 2,550 and is now facing resistance near $ 2,600. The main hurdle is now near $ 2,650, above which the price could rise to $ 2,800.
If the price does not exceed $ 2,600 or $ 2,650, you could correct the gains. An initial support is near the $ 2,550 level. Major support is now forming near the $ 2,500 level.
Price of BNB, LTC, DOGE and XRP
Binance Coin (BNB) is up around 5% and is trading above the $ 365 level. On the upside, an immediate resistance is near the $ 380 level. Any further gains could open the doors for a test of the level. from 400 USD. If there is a downward correction, the price could find support near $ 365.
Litecoin (LTC) broke through the $ 172 resistance. LTC is now approaching the $ 180 resistance. If the bulls remain in action, there is a possibility of a move towards the $ 200 level. Conversely, the price could correct lower towards the $ 165 support zone.
Dogecoin (DOGE) is struggling to clear the $ 0.335 resistance level. If it breaks above $ 0.335, the next stop could be $ 0.350. On the downside, the $ 0.320 level is short-term support. The main support is now forming near the $ 0.300 level.
XRP price formed a base above $ 0.850 and recently moved higher. XRP rallied above $ 0.880 and is now climbing towards the $ 0.90 resistance zone. A clear break above $ 0.90 could carry the price towards the $ 0.950 level.
Another altcoin market today
Many altcoins made more than 8%, including AMP, DOT, RUNE, KLAY, MATIC, BAT, ENJ, SNX, LINK, FTM, SUSHI, HBAR, ATOM, OMG, and LUNA. Of these, AMP rallied over 26% and surpassed the $ 0.08 level.
Overall, the bitcoin price shows positive signs above $ 40,000. The current price action suggests more potential upside above the $ 41,000 and $ 42,000 levels.