The price of Bitcoin has started a further rise above the resistance zone of $ 33,500. BTC broke through resistance at $ 34,000, but is currently (04:35 UTC) facing resistance below $ 35,000. A daily close above $ 35,000 could start a steady increase in the short term.
Likewise, most of the major altcoins are showing positive signs. ETH has crossed $ 2,150, but it needs to clear $ 2,200 for more hikes. XRP appears to be aiming for a stronger rise above the resistance of $ 0.650.
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After a downward correction, the price of bitcoin found support near the $ 32,200 area. BTC started a further rise and broke through the resistance of $ 33,500. The price even passed the $ 34,000 area. It is now facing major resistance near the $ 35,000 area. If there is a close above $ 35,000, the price may start to rise steadily. The next key resistance could be $ 36,500.
On the downside, initial support is near the $ 34,000 level. The first key support is now near $ 33,500, below which the price could test the main weekly support at $ 32,200.
Ethereum’s price has remained well above the $ 2,050 level. ETH is now trading above $ 2,120 and $ 2,150. The first key hurdle is near the $ 2,200 level. The main weekly resistance is still near the $ 2,250 level.
On the downside, initial support is near the $ 2,120 level. The main support is near $ 2,050, below which the price could test $ 2,000.
BNB, LTC, DOGE and XRP prices
Cardano (ADA) gained momentum and managed to break through resistance at $ 1.35. The ADA is now facing resistance near 1.365, above which bulls may aim for a larger rise towards the 1.40 level. Otherwise, there is a risk of falling to the $ 1.32 level in the short term.
Litecoin (LTC) is consolidating near $ 135 and facing resistance near $ 140. The main weekly resistance is still near the $ 150 level. if there is a suitable close above $ 150, the price might start to rise sharply. Conversely, the price could revisit the support of 125 USD.
Dogecoin (DOGE) is recovering, but lacks bullish momentum for a move above $ 0.220. The next key resistance is near $ 0.232. The crucial breakout area is now near $ 0.250, above which the price could climb to $ 0.300.
The price of XRP is up 5% and it is now showing positive signs above $ 0.640. Immediate resistance is near the $ 0.650 level. A close above $ 0.650 could push the price towards $ 0.700.
Other altcoins market today
Many altcoins gained over 5% including SNX, EOS, NANO, TEL, RUNE, CRO, KCS, AAVE, AXS, GRT, MIOTA, XTZ, FTT, and COMP. Of these, SNX rose nearly 23% and broke above the $ 13.50 level, before correcting down again.
Overall, the price of bitcoin is showing positive signs above the $ 34,000 level. If BTC moves above $ 35,000, there could be a steady rise towards $ 36,500 or even $ 38,000.
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