Bitcoin Inches Higher, Ethereum and Altcoins Accelerate

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  • Bitcoin prices could continue to rise towards USD 40,000.
  • Ethereum settled above USD 2,300 resistance. XRP could test USD 0.700.
  • The BTT, RUNE and VET are up 22%-47%.

The Bitcoin price surged above the USD 35,000 support. BTC traded as close to USD 40,000. Before it recovered its gains, BTC also traded near USD 40,000. It is currently consolidating at USD 38,500 at 12:29 UTC and could accelerate further.

Similar bullish signs are being seen in major altcoins. ETH trades above the USD 2,300 resistance area. XRP could rise to the USD 0.700 resistance area.

Bitcoin price

The bitcoin price failed to break the USD 40,000 barrier after a strong rally that was fuelled by Amazon-related speculation. BTC began a downward correction below USD 39,000. The USD 38,500 level is where it is consolidating. The USD 38,000 level is the initial support for the downside. The USD 37.800 level is the first major support. Below that, the price could reach USD 37,000.

Surprisingly, a resistance level is close to USD 39,200. Above which, the price could revert to the USD 40,000 zone.

Ethereum price

Ethereum price gained pace after it broke the USD 2,250 resistance zone. ETH now trades above USD 2,300. The USD 2,350 mark is the first major barrier. The USD 2,420 resistance level could be tested if the bulls continue to act.

A downside correction could lead to bids at USD 2,280. The USD 2,250 level is the next major support.

ADA, LTC and DOGE prices

Cardano (ADA) is up 10% and it is showing positive signs above the USD 1.30 level. The USD 1.38 level could see ADA continue to rise. The USD 1.40 level is the main breakout area. The downside is that the USD 1.30 level might be stable.

Litecoin (LTC) is trading above the USD 135 level. It now faces a major obstacle near the USD 140 level. If the USD 140 level is reached, it could signal a shift towards the USD 150 level. The downside is that the price could remain steady at the USD 130 level.

Dogecoin (DOGE) broke the USD 0.220 resistance. The bulls seem to be gaining strength above USD 0.220. The price could reach the USD 0.25 mark if they continue to be active. The USD 0.200 level, on the other hand, is a solid support.

XRP price is accelerating higher above the USD 0.635 and USD 0.655 resistance levels. The USD 0.680 level is the immediate resistance. The USD 0.700 level is the next major resistance. Bulls may face resistance there.

Altcoins are also available today

Altcoins rose by more than 15% including AMP and RUNE. AMP still holds gains above the USD 0.070 mark.

Bitcoin price is showing bullish signs at USD 37,200 to USD 38,000. For further gains, however, it is necessary to close above USD 40,000.

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