Bitcoin price recovered from the USD 53,200 zone and climbed above the USD 54,500 and USD 55,000 resistance levels. It is currently (12:30 PM UTC) consolidating, with major hurdles near USD 57,200 and USD 58,000.
Similarly, there was a steady rise in most major altcoins, including ethereum. ETH recovered above USD 1,800, but it failed to surpass USD 1,820. XRP/USD is gaining momentum and it might revisit USD 0.500.
Total market capitalization
After a sharp downside correction, bitcoin price found support near USD 53,200. BTC started a steady recovery and it climbed above the USD 55,000 level. The price is now consolidating and is facing hurdles on its road to USD 56,500. The first key resistance is near the USD 57,200.
The key breakout resistance is near USD 58,000, where the bears might appear. If there is a fresh decline, the bulls might take a stand near the USD 54,000 level.
Ethereum price recovered sharply from USD 1,710 and it broke the USD 1,780 resistance. ETH even spiked above USD 1,800, but it faced sellers near USD 1,820. The price is retreating, but it might find bids near USD 1,740 and USD 1,725.
On the upside, a daily close above USD 1,800 could possibly start a fresh increase. The next key resistance sits near USD 1,850, above which it might grind higher towards the USD 1,920 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is back above the USD 250 level, but it is struggling to gain bullish momentum. BNB seems to be facing resistance near USD 262 and USD 265. A clear break above USD 265 might push the price towards USD 288. Conversely, the price could resume its decline towards USD 225 and USD 220.
Cardano (ADA) is consolidating above the USD 1.000 support zone. If ADA settles above USD 1.050, there could be a move towards the USD 1.110 level. The key level for a sustained upward move is near USD 1.120. On the downside, the USD 1.000 level holds the key in the near term.
Litecoin (LTC) is attempting to recover above USD 200 and USD 205. A convincing follow up move above USD 205 might clear the path for a test of USD 220. If not, the price might decline towards the USD 180 and USD 172 levels in the coming sessions.
XRP price outperformed bitcoin and ethereum, with a strong spike above USD 0.465 and USD 0.480. However, a close above the USD 0.500 is a must for a sustained upward move. The next key resistance is near USD 0.550.
Other altcoins market today
A few altcoins climbed over 10%, including ORBS, SC, RVN, LUNA, ONT, RSR, NEXO, ICX, VGX, XEM, and DGB. Conversely, HOT, CHZ, HBAR, MATIC, and CAKE are down over 5%.
To sum up, bitcoin price is trying to recover losses by moving above USD 55,000. However, BTC is likely to face a strong selling interest near the USD 57,200 and USD 58,000 levels.