Bitcoin price extended its upward move above the USD 37,500 resistance. BTC even cleared the USD 38,000 resistance zone. It tested USD 39,500 and is currently (12:30 PM UTC) consolidating gains above the USD 38,000 level.
Besides, most major altcoins are also gaining bullish momentum. ETH is up 5% and it even tested the USD 2,880 resistance level. XRP/USD is rising too and it could gain pace if there is a break above USD 1.10.
Total market capitalization
After a follow through above USD 36,500, bitcoin price was able to clear the USD 37,500 and USD 38,000 resistance levels. It even surpassed USD 39,000, but there was no test of the USD 40,000 barrier. The price tested USD 39,500 and it is now consolidating gains. An immediate support on the downside is near USD 38,000. The first major support is now forming near USD 37,500.
On the upside, an initial hurdle is near the USD 39,500 level. The main resistance is now forming near USD 40,000, above which the price could surge towards USD 42,000.
Ethereum price also gained pace after it broke the USD 2,750 resistance. ETH even cleared the USD 2,800 level and it tested the USD 2,880 resistance. The price is now correcting lower and it is trading below USD 2,820. If there are more losses, the price could test USD 2,750.
On the upside, the price is facing hurdles near the USD 2,850 and USD 2,880 levels. The main resistance is near the USD 3,000 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is trading above the USD 400 level. BNB is showing positive signs and it is trading near USD 420. If there are more gains, the price might climb towards USD 450. If there is a dip, the price could find bids near USD 400.
Litecoin (LTC) is rising and it is approaching the USD 195 and USD 200 resistance levels. A close above the USD 200 level could clear the path for further gains in the near term. On the downside, the price might remain stable near USD 180.
Dogecoin (DOGE) failed to clear the USD 0.445 and USD 0.450 resistance levels. The price is now correcting lower and it is approaching the USD 0.400 level. If there are more losses, the price could test the USD 0.380 support zone in the near term.
XRP price is slowly rising and it is testing the USD 1.05 resistance. The key breakout resistance is near the USD 1.10 level, above which the price might accelerate higher. On the downside, the price could find support near USD 1.00 or USD 0.980.
Other altcoins market today
Many altcoins climbed over 10%, including OKB, MIOTA, FTM, ALGO, KSM, GRT, ATOM, SOL, ZIL, WAVES, DOT, XMR, DGB, and THETA. Out of these, OKB is up 30% and it broke the USD 18.00 level before correcting lower again.
To sum up, bitcoin price is showing positive signs above the USD 38,000 level. If BTC remains stable, it could rise towards the USD 40,000 resistance in the next few sessions.