Bitcoin price is showing positive signs above the USD 39,200 and USD 39,000 support levels. BTC is currently (12:27 UTC) consolidating and it might surge above USD 40,000 once again. A successful close above USD 40,000 and USD 40,500 could push the price higher.
Besides, most major altcoins are trading in a positive zone. ETH might climb higher if there is a close above USD 2,350. XRP surged towards USD 0.750 before correcting lower.
Total market capitalization
In the past two sessions, bitcoin price started trading in a range above the USD 39,200 support level. BTC is facing an uphill task above USD 40,000. If there is a daily close above this level and a follow up move above USD 40,500, there are chances of a sustained upward move.
On the downside, the USD 39,200 level is a key support. The next key support is near USD 39,000, below which the price might test USD 38,800.
Ethereum price is also facing an uphill task near USD 2,325 and USD 2,350. To start a steady increase, the price must settle above USD 2,350. The next major resistance for the bulls could be near the USD 2,450 level.
If there is a downside correction, the price might find bids near the USD 2,250 level. The next key support is near USD 2,200, below which the price might accelerate towards USD 2,120.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) struggled to clear the USD 1.30 resistance zone. If ADA trades below USD 1.25, there is a risk of a downside correction. The next major support is near USD 1.22, below which the price might dive towards USD 1.20. On the upside, the bears might remain active near USD 1.30.
Litecoin (LTC) is facing a strong resistance near the USD 140 and USD 142 levels. If LTC settles above the USD 142 resistance, there could be a steady rise towards the USD 150 level. If not, there could be a fresh drop towards the USD 130 level.
Dogecoin (DOGE) is struggling to stay above the USD 0.200 support level. If there is a downside break, the price might test the USD 0.188 support level. The next major support is near the USD 0.165 level. On the upside, the USD 0.220 level is a major breakout zone.
XRP price rallied above the USD 0.700 resistance. The price even spiked towards the USD 0.750 level before it started a downside correction. It is now consolidating near USD 0.700 and it might test USD 0.680. The next major support could be near the USD 0.650 level.
Other altcoins market today
A few altcoins climbed over 5%, including QNT, RUNE, AMP, LUNA, FTM, ICX, XMR, and CELO. Out of these, QNT rallied almost 37% and it broke the USD 135 level before correcting lower.
To sum up, bitcoin price is showing positive signs above USD 39,200 and USD 39,000. If BTC closes above USD 40,000 and USD 40,500, it could move higher in the near term.
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