Last week, the bitcoin price started a downward correction and traded below support levels of USD 3,880 and USD 3,750. BTC / USD tested the next major support at $ 3,500 and then returned. The price is currently consolidating above the 3,700 USD and it looks like it could move slowly towards USD 3,880 and USD 4,000 in the short term. The price of Ethereum has recently gathered above the resistance of USD 125 and 130. The ETH / USD could gain ground if the buyers cancel the UD 140 resistance. The price of the ripple has shrunk from the minimum of USD 0.450 and stood below USD 0.400. However, the price is finding strong bids close to USD 0.345 and could recover over USD 0.380 and USD 0.400.
Total market capitalization
After testing the $ 3,500 support, the bitcoin price has recovered over 3,600 USD and 3,700 USD. BTC / USD is currently trading (UTC 08:20 AM) in a range above the support of USD 3,700, with immediate resistance at USD 3,780. If there is a break above $ 3,780 and 3,800 USD, the price could accelerate gains to the weekly resistance level of USD 4,000.
On the downside, initial support is USD 3,700, below which the next support is USD 3,620. The main weekly support is $ 3,500, below which sellers could direct the $ 3,200 support area.
The price of Ethereum has formed a solid support near the USD 115 – USD 120 area and subsequently met above USD 125. ETH / USD even broke the resistance at USD 130, but struggled to gain momentum compared to the resistance of USD 140.
Buyers must exceed the USD 140 level to test weekly resistance at USD 150. On the downside, the first support is USD 130, below which the main weekly support is USD 125. If there is a push below USD 125, the price may return to a bearish zone.
Price in cash and Bitcoin ripple
Bitcoin money has been settled above the USD 150 support. BCH / USD must break resistance levels of USD 165 and USD 175 to challenge the USD 200 barrier in the coming days. Bitcoin SV is struggling to contain earnings above USD 90 and is currently down 2% to USD 85. If BCHSV continues to fall, you can check the support level of USD 80 or USD 75.
The price of the ripple was clearly traded below the USD 0.450 swing. The XRP / USD tested USD 0.325 support and subsequently recovered over USD 0.350. The next key resistance for buyers is close to the levels of 0.380 USD and 0.392 USD.
Other altcoin markets today
Recently, some small capitalization altcoins have gained bullish momentum and are trading over 8%, including MGO, DCN, IOST, KMD and MOAC. Of these, MGO gained over 17% to 0.51 USD and the DCN rose by around 14%.
Overall, the bitcoin price is trading above the key support of USD 3,500. If BTC / USD breaks resistance levels of USD 3,800 and USD 3,880, it could clear the USD 4,000 barrier. Likewise, ethereum and ripple are exchanged on crucial media and can extend gains in the next sessions.