Bitcoin price remained stable above the USD 56,500 pivot level. As a result, BTC started a fresh increase and it cleared the USD 58,500 resistance. It is currently (04:30 UTC) trading USD 59,000 and the bulls may soon attempt an upside break above USD 60,000.
Besides, most major altcoins are showing positive signs. ETH is rising and it traded to a new record high above USD 4,000. XRP/USD is also rising and it might aim for a strong move above USD 1.60.
Total market capitalization
After another test of USD 56,500, bitcoin price started a fresh increase. BTC broke the USD 58,000 and USD 58,500 resistance levels. The price is now approaching the key weekly barrier at USD 60,000. A successful break above the USD 60,000 level could open the doors for a strong increase. The next key resistance is near USD 61,200, above which the price might rise to USD 63,000.
If there is a downside correction, the USD 58,500 level might provide support. The main weekly support is now forming near the USD 56,500 level.
Ethereum price outperformed bitcoin and it climbed above the USD 3,850 and USD 3,950 resistance levels. ETH even cleared USD 4,000 and it traded to a new all-time high above USD 4,050. The next target for the bulls could be near the USD 4,120.
On the downside, the price might remain stable above the USD 4,000 level. The next key support is near the USD 3,950 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is up over 5% and it is trading well above the USD 665 level. BNB is approaching the USD 685 resistance level. A clear break above the USD 685 level could open the doors for a break above the USD 700 level. On the downside, the USD 650 level is a major support zone.
Litecoin (LTC) is up over 15% and it is now trading above the USD 400 level. LTC tested the USD 412 zone and it might accelerate further higher. An immediate resistance is near the USD 425 level. Any more gains could clear the path for a move towards the USD 450 level.
Dogecoin (DOGE) corrected sharply from well above USD 0.650. DOGE declined below the USD 0.50 level before it found support near USD 0.418. It is now recovering and trading above USD 0.50. If there is a break above USD 0.55, the price could revisit USD 0.60.
XRP price started a fresh increase above the USD 1.55 resistance level. It is now approaching the USD 1.60 level and it might rally further. The next major resistance is near the USD 1.68 and USD 1.70 levels.
Other altcoins market today
Several altcoins gained over 10%, including TEL, HT, FTM, OKB, RSR, XVS, DCR, ADA, ZIL, ONE, LINK and LSK. Out of these, TEL surged 50% and it cleared the USD 0.055 level.
Overall, bitcoin price is rising steadily and it is approaching USD 60,000. If BTC settles above USD 60,000, it could start another upward move in the near term.