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Bitcoin gained traction and exceeded the resistance of $ 6,400. Ripple outperformed other major Altcoins such as Ethereum, EOS, bitcoin liquidity and litecoin. If BTC / USD trades above $ 6,770, there may be a sharp rise in short-term buying interest.
Key Takeaways:
- Bitcoin's price is slowly moving higher and currently exceeds $ 6,400.
- Ethereum is traded with bullish moves above the $ 200 support area.
- The price scrap has increased significantly and has tested the resistance area of $ 0.5000
- EOS could continue to rise towards the $ 6.50 level in the short term.
- BOB and VIBE have gained over 150% in the last 7 days.
Bitcoin Price Analysis
Bitcoin's price seems to provide a solid base of support above the $ 6,100 level. The BTC / USD pair made some attempts to break the $ 6.130 and $ 6.120, but buyers defended losses very aggressively.
Bitcoin Price Chart: Click to Enlarge
hour chart, the price was clearly a very good offer above the $ 6,100 level. The recent low was around $ 6,120 before the price started an upward move.
Exceeded $ 6,280 and $ 6,350 resistance levels. There was also a close above the fiber retracement level of 23.6% from the last major decline, from $ 7.420 up to $ 6.120 in low fluctuation. More importantly, there was a closing above the $ 6,400 level and the simple 21-minute (4-hour) average.
The price recently surpassed the $ 6.550-70 zone, but failed to clear the resistance zone by $ 6.640. There appears to be a rising channel with resistance near $ 6,650 on the same chart.
If the price were to break the resistance of the channel, there could be more gains above the $ 6700 level. The next resistance is close to the $ 6,770 level, which is the 50% fiber retracement level of the last big decline from $ 7,420 up to $ 6,120 down.
The $ 6,770 level is a crucial obstacle for buyers and it will not be easy for bitcoins to exceed $ 6,770 and $ 6,800. Above these, it is likely that the price will revisit the $ 7,000 zone.
On the other hand, if there is a downward correction, the price could find support near the $ 6,400 and $ 6,360 levels. The most important barriers for sellers are close to $ 6.150 and $ 6.120.
Price Analysis of Ethereum
The price of Ethereum started a decent recovery from the low of $ 166. The ETH / USD rose slowly and steadily and broke some major resistance such as $ 180, $ 185. and $ 200
Chart of the price of Ethereum: Click to Enlarge
-or chart, the price gained traction above the level of $ 190 and subsequently stabilized above the $ 200 level and the simple moving average 21 (4 hours). There was also a close above the 23.6% fiber retracement level of the last slide from the low of the swing $ 304 to $ 166.
At present, the price is traded close to an important bearish trend line with resistance at $ 230 on the same chart. Above the trendline, the 50% fiber retracement level of the last slide from the low of $ 304 high to $ 166 is $ 234.
Therefore, the $ 230-234 zone is a crucial obstacle for buyers. If they manage to overcome the resistance of $ 234, the price could rise sharply above the $ 240 level. The next major resistance is close to the $ 270 level, which was previously a support, and now coincides with the Fib 76 retracement level. , 4% of the last slide.
The downside, if the price corrects down, the 21 SMA and it is likely that the $ 210 level will act as a support. As long as the price is traded above $ 210 and $ 200, it could break $ 234 to stay in a positive zone.
Ripple Price Analysis
The price of ripple was one of the best in terms of rallies over 40% during the last sessions against the US dollar. XRP / USD broke a significant resistance zone near the $ 0.2800 level, opening the door for further gains. [19659001] 
Ripple Price Chart: Click to enlarge
Looking at the 4 hour chart, the price formed a support base near the $ 0.2525 level. The sellers lost control and later the price started a solid upward move. It broke the resistance of $ 0.2800 and the simple moving average at 21 (4 hours).
During the rise, there was a break above a bearish trend line at $ 0.2810 on the same chart. He cleared the path for buyers to take control and the price has gathered beyond the resistance levels of $ 0.3000 and $ 0.3500.
The price even broke the resistance of $ 0.4000 and $ 0.4500 and reached a maximum of 0.5026. At the moment, the price is correcting lower and could test the fiber retracement level of 23.6% of the last wave, from $ 0.2679 down to $ 0.5026 at the top.
If there is an extended downward correction, the price could test the $ 0.4000 support for the area. It is also higher than the 50% Fibra retracement level of the last wave, from $ 0.2679 down to $ 0.5026 up. The current price action is very bullish above $ 0.4000.
A boost above the $ 0.5000 level will likely require additional gains towards $ 0.5500 and $ 0.5800 in the short term.
EOS Price Analysis
The EOS price remained good an offer above the support area of $ 4.50 compared to the US dollar. Sellers have made a couple of attempts to break support levels $ 4.50 and $ 4.60, but have failed. As a result, there was a base formed near the $ 4.60 level and the price started an upward move.
EOS Price Chart: Click to enlarge
Looking at the 4 hour chart, the price probably formed a double bottom pattern near the $ 4.60 level . The buyers were able to break the resistance of $ 5.50 and the moving average to 21 simple (4 hours).
In addition, there was a break above 23.6% of the Fib retracement level of the main slide from $ 6.80 swing to $ 4.60 low swing. More importantly, the price has exceeded a bearish trend line with resistance at $ 5.55 on the same chart.
At present, the price is trading close to the Fib 50% retracement level of the main slide from the $ 6.8 lowest altalone to $ 4.60 low swing. If there is a downward correction, the price could find support near the $ 5.50 level, which was a resistance first.
On the upside, a break above the $ 6 level is very likely in the short term. Above this, the EOS price could test the $ 6.30 and $ 6.50 levels.
Top Gainers
During the last 7 days, many small-cap altcoins gained traction and gathered over 100%, including BOB, VIBE, BTT and TPAY (trading volume over $ 50K). Furthermore, CRW, SXUT, EARTH, XET and GCR recorded a rally of over 80%.
Overall, the current price action is positive for bitcoin above the $ 6,400 level. If the BTC / USD continues to hold the Pivot level of $ 6,150, there may be greater gains of $ 6,770 and $ 7,000, which could help altcoins like Ethereum, EOS, litecoin, ripple, neo, bitcoin money, binary currency and XLM.
market data are provided by TradingView, Bitfinex.
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