Please or Register to create posts and topics.

Bitcoin Struggling Near USD 9,000, Altcoins Show Signs of Life

After halving, bitcoin price managed to settle above the USD 8,550 pivot level. BTC even climbed above the USD 8,850 resistance, but it seems like it is facing a major resistance near the USD 9,000 zone. If there is a clear break above USD 9,000, the price could start a strong rally.
Looking at most major altcoins, there were mostly broad range moves in ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is slowly rising and might surpass the USD 192 resistance. XRP is also recovering and approaching the range resistance zone near the USD 0.200 level.

Bitcoin price

The current (08:30 UTC) technical structure for bitcoin price is positive above the USD 8,550 and USD 8,600 levels. BTC managed to climb above the USD 8,850 resistance zone, but it seems like the bulls are struggling to overcome the USD 9,000 hurdle. If they succeed, the price is likely to rally above the USD 9,200 and USD 9,250 levels in the near term.
If the price fails to continue above USD 9,000, there is a risk of a bearish reaction. An initial support is near the USD 8,720 level, below which the price could retest the USD 8,550 support.

Ethereum price

Ethereum price is slowly rising and approaching the USD 192 resistance. ETH/USD must settle above the USD 192 level to revisit the main USD 200 resistance zone. A daily close above the USD 200 level is needed for a sustained upward move.
On the downside, an initial support is near the USD 185 level. The first key support is at USD 180, below which the price might continue to move down towards the USD 175 level.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price is consolidating in a range above the USD 230 support level. On the upside, BCH is facing many hurdles near the USD 240 and USD 245 levels. If the bulls gain strength above USD 240, the price could even surpass USD 250. If not, the price could start a fresh decline towards USD 220 or even USD 212.
Litecoin is trading near the USD 42.20 level and it is struggling to settle above the USD 43.20 resistance. If LTC clears the USD 43.20 resistance, it could test the USD 45.00 barrier. Until then, the bears are likely to aim a downside break below the USD 40.00 support zone.
XRP price is showing positive signs above the USD 0.192 and USD 0.190 support levels. The price is now approaching the main USD 0.200 and USD 0.202 resistance levels. If there is a proper close above the USD 0.202 level, it could kick start a fresh uptrend wave towards USD 0.212 and USD 0.220.

Other altcoins market today

In the past three sessions, many smaller altcoins gained more than 10%, including ETN, KCS, DGB, ZIL, HYN, WAVES, BHT, GNT, KNC, SEELE, and MATIC. Out of these, ETN rallied close to 28% and KCS is up around 24%.

To sum up, bitcoin is showing a lot of positive signs above USD 8,850, but it must gain bullish momentum above USD 9,000 to increase buying interest. If not, it could retreat lower towards USD 8,550 and USD 8,400

Source: CryptoNews

Renew your post - share your thoughts - big things are going on in the crypto market!

Bitcoin Price Taps New All-Time High, Analyst Says 'Fertile Grounds for BTC to Take a Fresh Leg Up' -

The price of bitcoin has crossed a new all-time high (ATH) on Tuesday, as the leading crypto asset has jumped to $63,275 per unit during the early morning trading sessions (EST). At the time of publication, the entire market economy with over 9,203 cryptos is valued at $2.153 trillion with $164 billion in global trade volume.

Bitcoin Price Touches New Highs

Bitcoin (BTC) has finally crossed the psychological resistance at the $60k mark and even brushed past the last all-time price high. At around 5 a.m. (EST), bitcoin’s price jumped to a new ATH reaching $63,275 per BTC. At the time of writing, BTC is just under the $63k handle and has a market valuation of around $1.177 trillion today. That’s approximately 54% of the entire $2.153 trillion crypto market economy, while ethereum (ETH) captures 11.9% on Tuesday. Read more on news.bitcoin.com