There were mostly range moves in bitcoin price below the USD 8,000 resistance level. BTC/USD made a couple of attempts to gain strength above the USD 8,000 and USD 8,050 resistance levels, but it mostly struggled. It is currently (08:00 UTC) consolidating above the USD 7,820 and USD 7,700 support levels. Ethereum price is placed above the USD 250 support and it seems like ETH/USD could slowly climb above USD 260 or even USD 265. Similarly, ripple price is moving higher and it is about to trade above the USD 0.400 resistance. A convincing break above the USD 0.405 resistance will most likely open the doors for more gains.
Total market capitalization
After bitcoin price failed to settle above the USD 8,000 resistance, it corrected lower. BTC/USD declined below USD 7,950 and USD 7,900. It tested the USD 7,800 level and it remains well supported on the downside. Below USD 7,800, the next key supports are near USD 7,720 and USD 7,700.
On the upside, the price must gain momentum above the USD 8,000 and USD 8,050 resistance levels to continue higher. The next immediate resistance is at USD 8,200, above which the price may test USD 8,320.
Ethereum price mostly trading with a positive bias and remained well supported above the USD 250 level. ETH/USD is currently up more than 2% and it recently traded above the USD 255 level.
On the upside, an immediate resistance is at USD 260, above which the price could continue to climb towards the USD 265 level.
Bitcoin cash, eos and ripple price
Bitcoin cash price is currently consolidating above the USD 400 support area. BCH/USD tested the USD 415 resistance, but it failed to gain momentum. On the downside, a break below the USD 400 support might start a fresh downward move towards the USD 385 or USD 375 support levels. On the upside, a close above USD 415 is needed for more gains.
EOS was also seen trading in a tight range above the USD 6.20 support area. The main supports on the downside are USD 6.05 and USD 6.00. On the upside, a clear break above the USD 6.30 and USD 6.35 resistance could open the doors for more gains.
Ripple price found support near the USD 0.385 level and it recently moved higher. XRP/USD is about to move above the USD 0.400 resistance and it seems like the price might even surpass USD 0.405 and continue higher in the near term.
Other altcoins market today
In the past three sessions, a few small cap altcoins gained momentum and are up more than 10%, including BSV, DGB, BTG, ENJ, LINK, BCD, BNB and ZIL. Out of these, BSV is up around 75% and DGB gained nearly 16%.
To sum up, bitcoin price seems to be consolidating below USD 8,000 and USD 8,050. A successful close above the USD 8,050 resistance is likely to open the doors for more upsides towards USD 8,320 or USD 8,500 in the coming days.
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