Bitcoin price settled above the USD 58,000 level. It is currently (12:00 UTC) trading above the USD 58,500 resistance level and it seems like the bulls are aiming a test of the USD 60,000 resistance zone in the near term.
Most major altcoins are gaining bullish momentum, including ethereum, ADA, EOS, XRP, BNB, XLM, LINK, UNI, BTT, bitcoin cash, DOT, and litecoin. ETH remained in a strong uptrend and it traded to a new all-time high near USD 3,200. XRP/USD is likely approaching a major bullish break above USD 1.60.
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After a positive move above the USD 57,500 level, bitcoin price settled above USD 58,000. BTC broke the USD 58,500 resistance and it is now showing positive signs. The main hurdle on the upside is near the USD 60,000 level. A successful close above USD 60,000 is likely to trigger a sharp increase.
If there is a downside correction, the price might find support near the USD 58,000 level. The next key support is now forming near the USD 57,500.
Ethereum price is up close to 10%, and it broke many hurdles near the USD 3,000 and USD 3,120 level. ETH even spiked above USD 3,200 and it is now consolidating gains. If there are more upsides, the bulls could aim a test of USD 3,350.
On the downside, the USD 3,120 level is a decent support. The first major support is near USD 3,050, below which the price might visit the USD 3,000 support.
BNB, ADA, DOGE, and XRP price
Binance Coin (BNB) surged over 5% and it broke the USD 650 resistance. BNB traded to a new all-time high near USD 652 and it is likely to continue higher. The next stop for the bulls may possibly be near the USD 685 and USD 700 levels.
Cardano (ADA) is slowly rising and it is trading well above the USD 1.35 pivot level. The first key barrier is near the USD 1.388 level. The main resistance sits at USD 1.40, above which the price could easily rise towards the USD 1.50 resistance.
Dogecoin (DOGE) is trading above the USD 0.365 pivot level. It seems like the bulls are aiming a test of the USD 0.400 resistance level. A successful close above the USD 0.400 level could open the doors for a steady rise. If not, there could be a drop towards the USD 0.350 support.
XRP price is likely forming a major bullish breakout pattern near the USD 1.60 resistance. A proper follow up move above USD 1.60 is likely to clear the path for a run towards the USD 1.72 and USD 1.75 level. On the downside, the USD 1.50 level is a strong support.
Other altcoins market today
In the past few hours, many altcoins climbed over 8%, including WAVES, XVS, ONT, ETC, OMG, MKR, TFUEL, BSV, EGLD, SNX, HBAR, UNI, AAVE, OKB, XLM, and THETA. Out of these, WAVES surged over 50% and it cleared the USD 30 level.
To sum up, bitcoin price is rising and it may soon test the USD 60,000 resistance. If there is a downside correction, BTC could visit the USD 57,500 support.
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