In the past few days, we saw bearish moves in bitcoin below USD 10,200. BTC/USD even spiked below the USD 10,000 support on a couple of times. However, the bulls managed to protect any nasty drops below the USD 10,000 level. As a result, there was a fresh recovery initiated recently, and the price climbed above the USD 10,150 and USD 10,250 resistance levels. Similarly, there were positive moves in major altcoins, including ethereum, ripple, BCH, litecoin, XLM and EOS. ETH/USD is recovering and it could attempt to surpass the USD 185 resistance. Besides, XRP/USD might revisit the key USD 0.262 resistance in the near term.
Total market capitalization
After forming a support base near USD 10,000, bitcoin price started an upside correction. BTC/USD broke the USD 10,250 resistance level and even climbed above the USD 10,400 level. However, the price is yet to settle above the USD 10,500 and USD 10,550 resistance levels.
If there is a successful close above USD 10,550, the price could grind higher towards the USD 10,800 level. If not, there is a risk of a fresh decline below the USD 10,250 support level.
Ethereum price is forming a support base near the USD 175 level and recently there was an upside correction. However, ETH/USD is still facing hurdles near the USD 185 and USD 186 levels. If there is a break above USD 186, the price could accelerate towards the USD 194 and USD 198 levels.
On the downside, there is a decent support base forming near the USD 175 level. Therefore, a downside break below USD 175 might start another decrease and the price might drop to USD 170 or even USD 165.
Bitcoin cash, eos and ripple price
Bitcoin cash price is struggling to gain momentum above the key USD 300 and USD 305 resistance levels. If there is an upside break above USD 305, the price could test the USD 320 resistance. On the downside, the main supports are near USD 285 and USD 280.
EOS performed well in the past few sessions and remained stable at the USD 3.650 and USD 3.600 support levels. As long as the price is above the USD 3.650 support, there are chances of more upsides above the USD 3.850 and USD 3.900 resistance levels in the coming sessions.
Ripple price is still trading in a bearish zone below the USD 0.260 and USD 0.262 resistance levels. However, it seems like XRP/USD is preparing for a decent rise above the USD 0.260 level. The bulls need to surpass USD 0.262 and USD 0.265 for continuing gains.
Other altcoins market today
In the past three sessions, a few small capitalization altcoins recovered and gained more than 5%, including ATOM, MAID, KCS, XZC, SNX, LAMB, ONT, DRG and NEW. Out of these, ATOM is up around 25% and MAID climbed close to 10%.
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Overall, bitcoin price is showing a few bullish signs above the USD 10,150 pivot level. However, BTC/USD must surpass the USD 10,500 and USD 10,550 resistance levels for upside continuation. If not, it could revisit the main USD 9,850 support area.