Bitcoin price has settled well above the USD 56,000 level. BTC is currently (12:00 PM UTC) showing positive signs and it might gain momentum above USD 58,000.
Besides, most major altcoins are trading in a strong uptrend. ETH is rising and it might accelerate higher above USD 3,500. XRP/USD is correcting gains, but it could remain well bid above USD 1.62. Also, ADA is gaining pace and it rallied over 25% to clear USD 1.65.
Total market capitalization
In the past two sessions, bitcoin price remained well bid above the USD 56,000 and USD 56,500 levels. BTC is rising steadily and it might settle above USD 58,000. The main target for the bulls could be USD 60,000. Any more gains could open the doors for a push towards the USD 62,000 resistance zone in the near term.
If there is a downside correction, the price could find support near the USD 57,200 level. The key support is now forming near the USD 56,000 level.
Ethereum price tested the USD 3,400 support zone and started a fresh increase. ETH is trading well above the USD 3,450 level and it is aiming for a fresh rally above USD 3,500. A daily close above USD 3,500 could spark another upward move in the near term.
On the downside, the USD 3,450 level is a short-term support. The key support is now near USD 3,400, below which the price might dive towards the USD 3,250 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is attempting an upside break above the USD 650 resistance level. If BNB settles above the USD 650 level, it could start a steady increase. The next major hurdle is near the USD 680 level. Any more gains could set the pace for a move towards the USD 700 level.
Litecoin (LTC) is consolidating below the USD 350 resistance level. If LTC gains pace and settles above USD 350, it might jump above the USD 365 level. In this case, the price could rise towards the USD 388 and USD 390 levels.
Dogecoin (DOGE) is correcting gains and it is down over 10%. DOGE is approaching the USD 0.60 support level. A downside break below USD 0.60 might open the doors for a move towards the USD 0.50 support zone in the near term.
XRP price rallied and it even spiked above the USD 1.70 level. It is now correcting gains and trading below USD 1.70. An immediate support is near the USD 1.65 level. The key support for the current move is near the 1.62 level.
Other altcoins market today
Many altcoins climbed over 12%, including TEL, BTG, ETC, QTUM, EOS, 1INCH, ADA, XEM, BCH, ZIL, AVAX, SUSHI, and XVG. Out of these, ETC surged over 30% and it cleared the USD 100 level.
To sum up, bitcoin price is showing positive signs above USD 57,500. If BTC settles above USD 58,000, it could move higher towards the USD 60,000 level.