Bitcoin price rallied above the USD 56,000 and USD 57,000 levels. BTC is currently (12:00 PM UTC) consolidating profits above USD 56,500. If the bulls gain momentum above USD 58,000, there could be a strong upward move.
Similarly, most major altcoins show positive signs. ETH faces strong resistance near USD 2,280 and USD 2,300. XRP / USD is also facing strong resistance near the USD 1.50 level.
Total market capitalization
Source: www.tradingview.com
Bitcoin price
After Bitcoin price formed a base above USD 55,000, it rose above the USD 56,500 and USD 57,000 levels. BTC is now showing positive signs with immediate resistance near USD 57,800. The main resistance is at USD 58,000, above which the bulls could aim for a steady rise to the USD 60,000 level.
On the downside, the $ 56,500 level is a decent support. If the bulls fail to protect USD 56,500, there is a risk of a short-term decline to USD 55,000.
Ethereum price
The Ethereum price is holding gains above the USD 2,200 and USD 2,220 levels. On the upside, the bulls are fighting near USD 2,280 and USD 2,300. A successful close above USD 2,300 could potentially trigger a new rally. The next big resistance could be USD 2,400.
Should it decline again, the bulls could remain active above USD 2,200. Further drawbacks could require a decline to the USD 2,125 level.
BNB, ADA, Litecoin and XRP prices
Binance Coin (BNB) is consolidating above the USD 525 pivot level. On the upside, there is immediate resistance near USD 540. The first major resistance is near the $ 550 level above which the price could move towards the $ 580 level. Conversely, the price could test the USD 500 support zone.
Cardano (ADA) is trading above the USD 1,250 support. On the upside, the price could face hurdles near USD 1,300 and USD 1,320. If there is a significant break above USD 1,320, the price could revisit USD 1,400. If not, it could fall towards the USD 1.15 support.
Litecoin (LTC) is showing positive signs but is facing resistance near the USD 278 and USD 280 levels. A successful deal above USD 280 could trigger a sharp surge towards USD 300. If not, the price could correct lower towards the USD 255 support zone.
The XRP price is moving towards the USD 1.405 and USD 1.400 support levels. On the upside, there is immediate resistance near the USD 1.450 level. The main breakout resistance is now forming near the USD 1,500 level.
Other altcoin market today
Many altcoins rose over 15%, including NEO, DOGE, SOL, HNT, KCS, ONT, XVG, Berufsbildung, DGB, LUNA, UMA, MIOTA, STX and CAKE. Meanwhile, DOGE accelerated and jumped more than 35% in one day, hitting its new all-time high of $ 0.419 (per coin checko) and becoming the fifth largest crypto asset by market cap. It flipped USDT once again today.
In summary, Bitcoin price is showing positive signs above USD 56,500. It seems like BTC could start a steady spike and try to hit an uptrend above the USD 58,000 resistance.
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