After trading to a new all-time high of over USD 36,000, bitcoin price started a downside correction. It declined over USD 1,500, but the bulls remain in action. The price is currently (13:00 UTC) trading above USD 34,000 and it could attempt another surge towards USD 36,000.
Most major altcoins are gaining bullish momentum, including ethereum, EOS, XLM, LINK, BNB, OMG, NEO, TRX, bitcoin cash, DOT, litecoin, and ADA. ETH/USD gained 10% and it might continue higher towards the USD 1,200 level. XRP/USD is still stuck in a range below the USD 0.235 and USD 0.250 resistance levels.
Total market capitalization
After a rejection above USD 35,500, bitcoin price started a downside correction. BTC broke the USD 35,000 and USD 34,000 levels. However, the price remained well bid above the USD 33,500 level. It is rising and trading above the USD 34,000 level. An immediate resistance is near the USD 35,000 level.
A clear break and close above USD 35,000 could open the doors for a fresh surge. The next key resistance could be near USD 35,500 and USD 35,750.
Ethereum price outperformed bitcoin and it even broke the 1,150 resistance level. ETH traded to a new multi-month high at USD 1,165 and it is currently consolidating gains. The current price action suggests that the price might continue to rise towards the USD 1,180 and USD 1,200 levels.
If there is a fresh decline, the USD 1,100 level might act as a support. The main support seems to be forming near the USD 1,080 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is consolidating gains above the USD 425 and USD 430 levels. If BCH remains stable above USD 425, there are chances of a steady push towards the USD 445 and USD 450 levels. A close above the USD 450 level might call for a push towards the USD 475 level. On the downside, the price might remain stable near USD 425, below which it could revisit USD 400.
Litecoin (LTC) is up over 5% and is trading above the USD 160 level. If LTC remains above USD 155, it could continue to rise. The next key resistance is near the USD 168 level. If there are more upsides, the bulls might test the USD 175 level. On the downside, the USD 155 and USD 150 levels are important supports.
XRP price is stable above the USD 0.212 and USD 0.220 levels. It seems as the price might break above the USD 0.235 level which could lead the price towards the USD 0.250 level. A clear break above the USD 0.250 level could set the pace for a push towards USD 0.300.
Other altcoins market today
In the past few hours, many altcoins are up over 10%, including XLM, ADA, XEM, GRT, OCEAN, FTT, ZIL, VET, SUSHI, ZRX, ZEN, NXM, HEDG, AMPL. Out of these, XLM surged over 100% and it seems like the bulls are eyeing a test of USD 0.365 and USD 0.400.
To sum up, bitcoin price remains elevated and it could continue to rise towards USD 35,500 and USD 35,750. If the bulls remain active above USD 35,500, there are chances of a new all-time high above USD 36,000.