After a sharp disadvantage correction, bitcoin price found support near the USD 8,650 level. BTC began an upside correction and it is now (08: 30 UTC) trading near the USD 9,00 0 level. To continue higher, it needs to clear the USD 9,050 and USD 9,200 resistance levels.
On the other hand, many significant altcoins are trading in a range above key supports, consisting of ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is holding the main USD 200 and USD 198 support levels. XRP is above the USD 0.190 support and it may start recuperating towards the USD 0.200 level.
Total market capitalization
The current technical structure for bitcoin price recommends a brief-term upside correction above USD 8,850 and USD 8,900 To move into a favorable zone, the price need to break the USD 9,200 resistancearea If the bulls prosper in clearing the USD 9,200 resistance, BTC may continue to rise towards the USD 9,500 resistance.
On the disadvantage, the USD 8,850 level is a preliminary support zone. The main assistances are near USD 8,650 and USD 8,550, below which the price may continue to move down towards the USD 8,200 level.
Ethereum price is currently trading above the USD 200 support level. On the upside, ETH appears to be struggling near the USD 205 level. The main resistance on the upside is near the USD 210, above which the bulls are most likely to take control in the coming sessions.
On the other hand, a disadvantage break below the USD 200 and USD 198 support levels may put a lot of pressure on the bulls. In this case, the price might dive towards the USD 192 and USD 188 levels.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is currently trading in a range near the USD 230 level. On the upside, BCH is facing a lot of obstacles near the USD 240 level, above which the price may start a constantrise If not, there is a risk of a bearish extension towards the USD 220 support zone.
Litecoin is currently evaluating the USD 42.20 and USD 42.00 support levels. LTC might decline additional towards the USD 40.00 level, which is a vitalsupport To move into a favorable zone, the price need to break the USD 43.50 level and after that acquire traction above the USD 45.00 resistance.
XRP price is combining above the USD 0.190 and USD 0.192 support levels. The price is currently trading near USD 0.195 and it may climb towards the USD 0.200 resistance level. , if there is an effective close above USD 0..200, the bulls may try to acquire strength and press the price towards the USD 0.205 and USD 0.208 levels.
Other altcoins market today
In the past 3 sessions, a couple of smaller sized altcoins acquired more than 5%, consisting of ZIL, ENJ, THETA, HBAR, MATIC, ZRX, MANA, SNT, IOST, NEXO, LUNA, and DX. Out of these, ZIL climbed around 20% and ENJ leapt more than 15%.
In General, bitcoin price is currently fixing higher and reaching the USD 9,00 0 level. To continue higher, BTC price need to exceed the USD 9,200 obstacle. If not, there is a risk of another decline towards the USD 8,550 level.