Bitcoin remained in a positive zone above the USD 7,000 pivot level. More importantly, BTC/USD made a few attempts to surpass the USD 7,300 – USD 7,350 resistance, but buyers failed so far. However, the price remains supported and it could soon make another bullish move. Major altcoins like ether, bitcoin cash and ripple remained confined in a range and it seems like they are preparing for the next move. ETH/USD must break USD 300 and BCH/USD needs to settle above USD 660 for more gains. Overall, the market sentiment remains bullish and there could be more gains in bitcoin above USD 7,300.
Total market capitalization:
Bitcoin price corrected a few points recently, but buyers protected declines below the USD 7,180 level. BTC/USD is back above the USD 7,250 support and it is currently attempting to surpass the USD 7,300 – USD 7,350 resistance. If buyers succeed, the next resistance awaits near USD 7,500.
On the other hand, if the price fails again, it could slide below the USD 7,250 support. The next major support is USD 7,100 followed by the USD 7,000 pivot zone.
Ethereum price extended its consolidation moves above the USD 280 level. ETH/USD seems to be preparing for the next ride, which could be above the USD 300 and 310 levels.
On the downside, the USD 280 level is an initial support. However, the most important support is USD 275, below which buyers are likely to struggle.
Bitcoin cash and ripple
Bitcoin cash price stayed above the USD 620 support and traded mostly in a range. BCH/USD seems to be facing key resistances at USD 650 and USD 660. Above these, the price is likely to test the USD 700 level. On the downside, below USD 620, the next supports is USD 600.
Ripple price is slowly moving down and is currently trading below the USD 0.335 level. If XRP/USD sellers push the price below the USD 0.330 support, there could be more losses in the near term towards USD 0.322.
Other altcoins market today
Today, many small cap altcoins rallied and gained more than 10%, including holo, komodo, monero, NPXS, OMG, STRAT, dropil, RDD, MITH and VET.
Overall, bitcoin buyers remain in control above the USD 7,000 pivot level. There could be a few swing moves in BTC/USD, but as long as the price is above USD 7,000, there may possibly be more upsides towards the USD 7,500 level. Similarly, ETH/USD could rise if it continues to stay above the USD 275 support.
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