Bitcoin price remained well bid above USD 53,200, resulting in a strong increase. BTC broke the main USD 55,000 and USD 55,500 resistance levels. It is currently (12:40 UTC) well above USD 56,000 and it might accelerate higher if there is a break above USD 57,000.
Similarly, most major altcoins are showing positive signs. ETH is also gaining momentum above USD 1,710 and it is approaching the USD 1,750 resistance. XRP/USD is back above USD 0.550 and it could rise further above USD 0.565.
Total market capitalization
After another failed attempt to break USD 53,200, bitcoin price started an upward move. BTC broke the USD 55,500 resistance zone and it is now above the USD 56,000 zone. The price is showing positive signs and it might continue higher if there is a clear break above USD 57,000.
On the downside, the price might remain well bid above USD 56,000. If there is a bearish break below USD 56,000, the price might remain stable above USD 55,500.
Ethereum price also started a fresh increase above the USD 1,700 and USD 1,710 levels. ETH is now approaching the USD 1,750 resistance. A clear break above USD 1,750 could open the doors for a sustained upward move towards the USD 1,800 and USD 1,810 levels.
If there is a fresh decline, the price could find bids near USD 1,710. The key breakdown support is now forming near the USD 1,650 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is gaining pace and it is trading above the USD 262 and USD 265 resistance levels. BNB is now approaching the USD 272 resistance. If there is a clear break above USD 272, the bulls might aim for a strong increase in the coming sessions.
Cardano (ADA) is recovering higher and it is trading above the USD 1.120 resistance. It seems like ADA could test the USD 1.200 resistance. If the price settles above USD 1.200, the bears might lose control. If there is a fresh decline, the bulls might remain active near USD 1.120.
Litecoin (LTC) is approaching the USD 200 resistance zone. LTC might climb higher if there is a clear break above USD 200 and USD 205. On the downside, losses might be limited below USD 190. The main support is still near the USD 180 level.
XRP price is rising again and it is back above the USD 0.550 level. An immediate resistance is near the USD 0.565 level, above which the price might gain momentum towards USD 0.580. The main hurdle is still near the USD 0.600 level.
Other altcoins market today
Several altcoins climbed over 10%, including ANKR, ONE, FIL, CRV, MVL, THETA, WAVES, ICX, CRO, ONT, ENJ, QTUM, and CAKE. Out of these, FIL is gaining pace and it is trading above USD 90.00.
To sum up, bitcoin price is trading above USD 55,500 and USD 56,000. If BTC clears the USD 57,000 resistance, it could accelerate towards the USD 58,000 and USD 58,500 levels.