Bitcoin price gained bullish momentum above the USD 56,500 and USD 57,000 resistance levels. BTC is currently (04:25 UTC) consolidating near USD 58,000 and it could extend gains. A break above USD 60,000 could possibly start a stronger rally in the near term.
Besides, most major altcoins are showing signs of more gains. ETH extended its rally and it cleared the main USD 3,000 barrier. XRP/USD settled above USD 1.50 and it might continue higher.
Total market capitalization
After a close above USD 55,500, bitcoin price extended its rise. BTC cleared the USD 56,500 and USD 57,000 resistance levels. BTC is now struggling to clear the USD 58,500 resistance. If it clears the USD 58,500 barrier, there could be an increase towards the USD 60,000 resistance level. Any more gains might open the doors for a move towards the USD 64,500 level.
Conversely, the price could correct below USD 57,500. The first key support is at USD 56,500, below which the price might test the weekly support at USD 55,000.
Ethereum price remained elevated and it extended its rally above the USD 2,800 level. ETH even broke the USD 3,000 level and it traded to a new all-time high above USD 3,050. It seems like the bulls are in action and they are eyeing more upsides above the USD 3,100 level.
On the downside, the USD 3,000 level is a short-term support. The first major support is near USD 2,920, followed by the USD 2,850 level.
BNB, ADA, DOGE, and XRP price
Binance Coin (BNB) settled above the USD 600 level. BNB even climbed above USD 625 and it is now consolidating gains. If there is a clear break above USD 632, the bulls could aim for USD 650 or even USD 665. The next key stop for them might be USD 700.
Cardano (ADA) is gaining pace above the USD 1.30 and USD 1.32 support levels. ADA is facing hurdles near USD 1.355, above which the price could revisit USD 1.40. Any more gains could lead the price towards the USD 1.50 resistance level.
Dogecoin (DOGE) recovered above the USD 0.355 and USD 0.365 resistance levels. It is now facing a strong resistance near the USD 0.400 level. A successful close above the USD 0.400 level could set the pace for a strong increase towards the USD 0.500 level.
XRP price extended its upward move above the USD 1.45 and USD 1.50 resistance levels. The price is now facing resistance near USD 1.60. The next key barrier is near the USD 1.70 level, above which the bulls might test the USD 2 level.
Other altcoins market today
Many altcoins gained over 8%, including XVS, MKR, UNI, HNT, BAKE, LUNA, TFUEL, WAVES, CAKE, RVN, CHSB, ONT, HBAR, XLM, and NEO. Out of these, XVS rallied almost 30% and it broke the USD 130 level.
Overall, bitcoin price is showing positive signs above the USD 57,500 and USD 56,500 levels. A clear break above USD 58,500 could clear the path for a move towards USD 60,000 or even USD 62,000.