Bitcoin and Altcoins Preparing For Next Move
Bitcoin price remained below the key USD 9,950 and USD 10,000 resistance levels. On the downside, there is a major support forming near the USD 9,550 level. Therefore, BTC seems to be preparing the next break either above USD 10,000 or towards USD 9,000.
Similarly, most major altcoins are likely preparing for the next key break, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is stuck between the USD 205 support and the USD 215 resistance. Besides, XPR is trading near the USD 0.205 level, with hurdles near the USD 0.208 and 0.210 levels (08:30 UTC).
Total market capitalization
In the few sessions, bitcoin price made a couple of attempts to start a strong upward move above USD 9,800 and USD 9,950. However, BTC struggled to gain momentum and it remained below the USD 9,950 and USD 10,000 resistance levels. If it continues to struggle, there is a risk of a bearish wave below the USD 9,600 and USD 9,550 support levels.
Conversely, the price might start a rally above USD 10,000 and it could surge towards the USD 10,500 level in the near term.
Ethereum price is stuck in a key range below the USD 215 resistance zone. ETH/USD must climb above USD 215 and USD 218 to start a strong increase. The next major resistance zone is near the USD 230 level, above which it could test USD 242.
On the downside, the bulls need to protect the USD 205 support. If they fail, there could be a steady decrease towards USD 200 and then towards the USD 192 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is struggling to settle above the USD 250 level and it is currently correcting lower. BCH is trading near the USD 245 level, with an immediate support near the USD 240 level. If there are more losses, the price may perhaps decline towards the USD 230 support. On the upside, a break above USD 250 and USD 255 could lead the price towards USD 265.
Litecoin is trading above the USD 45.00 pivot level. An immediate resistance is near the USD 46.50 level. If LTC price gains pace above the USD 46.50 level, it may possibly rise steadily towards the USD 48.50 and USD 50.00 levels. The main support is now forming near the USD 42.20 level.
XRP price settled above the USD 0.200 and USD 0.202 levels. However, it is facing a major hurdle near the USD 0.208 and USD 0.210 levels. It could either rise steadily above USD 0.210 or start a fresh decline towards the key USD 0.190 support.
Other altcoins market today
In the past three sessions, many smaller altcoins jumped more than 5%, including STEEM, THETA, OMG, NANO, CRPT, ICX, LEND, UBT, HBAR, ADA, ALGO, and XTZ. Conversely, ETH and DGB are gaining bearish momentum and are down more than 10%.
To sum up, bitcoin price seems to be preparing for the next crucial break below the USD 10,000 hurdle. If BTC continues to struggle below USD 10,000, there are high chances of a sharp decline towards the USD 9,200 support or USD 9,000.
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