Bitcoin price recovered above the USD 56,000 and USD 57,000 levels. BTC is currently (12:00 PM UTC) consolidating gains above USD 56,500. If the bulls gain momentum above USD 58,000, there could be a sharp upward move.
Similarly, most major altcoins are showing positive signs. ETH is facing strong resistance near USD 2,280 and USD 2,300. XRP/USD is also facing strong resistance near the USD 1.50 level.
Total market capitalization
After forming a base above USD 55,000, bitcoin price climbed above the USD 56,500 and USD 57,000 levels. BTC is now showing positive signs, with an immediate resistance near USD 57,800. The main resistance is near USD 58,000, above which the bulls might aim for a steady increase towards the USD 60,000 level.
On the downside, the USD 56,500 level is a decent support. If the bulls fail to protect USD 56,500, there is a risk of a drop towards the USD 55,000 level in the near term.
Ethereum price is holding gains above the USD 2,200 and USD 2,220 levels. On the upside, the bulls are struggling near USD 2,280 and USD 2,300. A successful close above USD 2,300 may possibly start a fresh rally. The next major resistance could be USD 2,400.
If there is a fresh decline, the bulls might remain active above USD 2,200. Any more downsides might call for a drop towards the USD 2,125 level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is consolidating above the USD 525 pivot level. On the upside, an immediate resistance is near USD 540. The first major resistance is near the USD 550 level, above which the price could surge towards USD 580. Conversely, the price could test the USD 500 support zone.
Cardano (ADA) is trading above the USD 1.250 support. On the upside, the price could face hurdles near USD 1.300 and USD 1.320. If there is a clear break above USD 1.320, the price might revisit USD 1.400. If not, it could decline towards the USD 1.15 support.
Litecoin (LTC) is showing positive signs, but it is facing resistance near the USD 278 and USD 280 levels. A successful close above USD 280 could trigger a sharp rise towards the USD 300 level. If not, the price might correct lower towards the USD 255 support zone.
XRP price is moving lower towards the USD 1.405 and USD 1.400 support levels. On the upside, an immediate resistance is near the USD 1.450 level. The main breakout resistance is now forming near the USD 1.500 level.
Other altcoins market today
Many altcoins climbed over 15%, including NEO, DOGE, SOL, HNT, KCS, ONT, XVG, VET, DGB, LUNA, UMA, MIOTA, STX, and CAKE. Meanwhile, DOGE accelerated and jumped by more than 35% in a day, hitting its new all-time high of USD 0.419 (per Coingecko) and becoming the 5th largest cryptoasset by market capitalization. It flipped USDT once again today.
To sum up, bitcoin price is showing positive signs above USD 56,500. It seems like BTC might start a steady increase and attempt an upside break above the USD 58,000 resistance.