- The price of Bitcoin has been corrected down from $ 58,500, but it remains supported.
- Ethereum topped $ 3,700, XRP is approaching $ 1.15.
- DOT rose 19% and rose above the $ 40 level.
The price of Bitcoin rose above the $ 57,500 level. BTC even broke above $ 58,000, but hit obstacles close to $ 58,500. There has been a minor downward correction and the price is currently (12:04 PM UTC) attempting a further increase.
Also, most of the major altcoins are showing positive signs. ETH is up 7% and has settled above the $ 3,600 level. XRP Still trading well below the resistance of $ 1.20. The ADA is approaching $ 2.20.
Total market capitalization
After a close above the $ 57,500 level, bitcoin price prolonged its increase. BTC broke the $ 58,000 mark before bears appeared near $ 58,500. Recently there was a minor downward correction, but the price remained well above $ 57,000. On the upside, initial resistance is near the $ 58,200 level. The next key resistance is near $ 58,500, above which the price may accelerate to $ 59,500.
If there is a prolonged downward correction, price could find bids near the $ 57,000 level. The next major support is near $ 56,500, below which the price could test $ 55,500.
Ethereum price remained high and settled above the $ 3,600 level. It has also accelerated above the $ 3,700 level and is now targeting the $ 3,750 and $ 3,800 levels.
Bearish support is near the $ 3,580 level. Major support is now forming near the $ 3,550 level.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) remained a good buyer and broke the hurdle of $ 2.15. The main hurdle is still near $ 2.20, above which the price may accelerate to the upside. The next stop for the bulls could be near the $ 2.32 level. On the downside, the bulls could remain active near the $ 2.10 level.
Litecoin (LTC) managed to go above $ 180. If there is a close above $ 180 and $ 182, there could be an attempt to break through the resistance at $ 188. If the bulls are successful, the price could rise towards the $ 200 level.
Dogecoin (DOGE) attempts a steady rise above the $ 0.232 level. The next major resistance is near the $ 0.250 level. A suitable close above the $ 0.250 level can potentially increase the chances of a move towards the $ 0.280 level in the near term.
XRP price Still trading below the $ 1.15 level. To start a stronger rise, the price must break through the $ 1.20 level. Otherwise, there could be a move towards the $ 1.05 level. Major breakdown support is forming near the $ 1.00 level.
Other altcoins market today
Many altcoins rose over 6% including TEL, DOT, KSM, VET, LINK, CRV, ATOM, CELO, FIL, HBAR, LUNA, REN, THETA, and ZIL. Of these, DOT rose 19%, bringing its weekly gains to 28%, on news from the parachaine.
To sum up, the price of bitcoin is showing positive signs above $ 56,500. There could be range moves in BTC, but the overall price action suggests a possible increase towards the $ 60,000 level.