The Bitcoin price is trading above the USD 23,000 support zone in a positive zone. BTC is currently trading above USD 23,800 (05:00 UTC) and it appears as if it could surge past USD 24,200. The USD 23,000 support might play a crucial role if there is a downside correction.
Similarly, the majority of major altcoins, including ethereum, XRP, EOS, XLM, LINK, BNB, TRX, bitcoin cash, litecoin, and ADA, show positive signs. The USD 620 support zone was tested by ETH/USD and it is now showing signs of a fresh increase. Below the main USD 0.600 resistance zone, XRP/USD is trading. BCH/USD has outperformed and is trading above USD 350 now.
Total capitalization in the market
Bitcoin prices have remained well above the USD 23,000 support zone in the last few sessions. BTC is trading above the level of USD 23,500 and in the near term it could continue to increase. Near the USD 24,000 and USD 24,200 levels, the main obstacle is. The pace for a push towards the USD 25,000 resistance could be set by closing above the USD 24,200 level.
On the downside, the initial support is close to the level of USD 23,500. The primary weekly support is now near USD 23,000, below which the price could be adjusted to USD 22,200.
Ethereum price struggled to clear the amount of USD 660 and to correct it lower. There was a dip below USD 640, but ETH found good support above USD 620. It is currently trading above USD 640, with many hurdles close to USD 655 and USD 660. The main weekly resistance is USD 675.
If there is a fresh fall, the bulls can remain active in the region of USD 630. The key weekly support seems to be close to USD 620.
Bitcoin cash, litecoin and XRP price
The price of Bitcoin cash outperformed bitcoin and ether. BCH rallied more than 15% and broke multiple barriers near USD 330 and USD 350. It is now consolidating near USD 365 and a short-term downside correction could occur. The USD 350 level could act as a decent help on the downside.
Litecoin (LTC) has settled above levels of USD 100.00 and USD 110.00. The LTC is now facing challenges near the level of USD 120.00. A close above USD 120.00 could begin a fresh rise towards the levels of USD 132.00 and USD 135.00. On the downside, near the USD 100.00 mark, the principal support zone is developing.
The XRP price decreased after the USD 0.600 resistance level failed to clear. Actually, losses are consolidated near the USD 0.550 support level, with main support close to the USD 0.540 level. Any more losses could call for a USD 0.520 support test. On the upside, the amounts of USD 0.588 and USD 0.600 are major obstacles for the bulls.
Other altcoins market today
A few altcoins, including BSV, BNB, CHSB, EOS, THETA, MAID, ZIL, ZEC, and ICX, have received over 5 percent in the past few hours. Out of these, BSV trades above the amount of USD 180.
Overall, the price of bitcoin is trading above USD 23,500 and USD 23,000 in a bullish region. There could be a short-term downside reversal, but in the coming days, the BTC could continue to grow to USD 24,200 and USD 25,000.