Bitcoin Above USD 62K, Ethereum and Altcoins Remain In Uptrend
Bitcoin price gained traction and surpassed USD 62,000.Ethereum is facing resistance near USD 3,920, XRP is struggling below 1.15.STX rallied 30%, and SHIB gained 9%.
Bitcoin price started a steady increase above the USD 60,000 zone. BTC even cleared the USD 62,000 resistance to move further into a positive zone. It is currently (04:27 UTC) gaining pace and it might attempt a break above USD 62,500.
Besides, most major altcoins are showing positive signs. ETH is trading above USD 3,800 and it is facing resistance near USD 3,920. XRP is facing resistance near USD 1.12 and USD 1.15. ADA corrected lower towards USD 2.15.
Total market capitalization
After a minor downside correction, bitcoin price found support near the USD 58,500 zone. BTC formed a base and started a fresh increase above the USD 60,000 resistance. The price remained attractive and was able to surpass the USD 62,000 resistance. It is now facing resistance near the USD 62,500 level. The next major resistance is near USD 63,500, above which the price could surge towards the USD 65,000 level.
On the downside, an initial support is near USD 61,200. The next major support is near USD 60,500, below which the price might struggle to stay above USD 60,000.
Ethereum price was able to gain strength above the USD 3,800 resistance. ETH surpassed the USD 3,850 level, but it failed to stay above USD 3,900. It seems to be facing resistance near the USD 3,920 level. Any more gains could set the pace for a move towards the USD 4,000 level.
If there is a downside correction, the price might find support near the USD 3,800 level. The first key support is now forming near the USD 3,750 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) spiked above the USD 2.15 level, but it failed to clear the USD 2.20 resistance. The price is now consolidating above the USD 2.12 level. If there is an upside break above USD 2.20, the price could accelerate higher. On the downside, the bulls might remain active near USD 2.05.
Litecoin (LTC) was able to clear the USD 185 resistance zone. However, the bulls failed to gain strength above the USD 188 resistance zone. A clear break above this zone could open the doors for a larger increase. The next stop for the bulls may possibly be near USD 200.
Dogecoin (DOGE) is consolidating above the USD 0.232 level. An immediate resistance is near the USD 0.242 level. The main resistance is near USD 0.250. A clear break above this level could set the pace for a larger increase. In this case, the price might rise towards USD 0.300.
XRP price is consolidating below the USD 1.12 resistance level. The first key resistance is near USD 1.15. A clear break above the USD 1.15 level may possibly push the price towards the USD 1.20 level. On the downside, the price could find support near the USD 1.05 level.
Other altcoins market today
A few altcoins are showing positive signs, including STX, SHIB, ZEC, FTM, CELO, LEO, HNT, PERP, ONE, and KCS. Out of these, STX rallied 30% and surpassed the USD 2.75 level, before correcting lower again.
Overall, bitcoin price is gaining pace above USD 62,000. If BTC clears USD 62,500, there could be a steady increase towards USD 63,500 or even USD 64,200.