Bitcoin started a fresh upside wave from the USD 10,800 swing low. The price broke a major resistance level at USD 11,000, which opened the doors for more gains. The market is following a positive path along with bitcoin cash. Altcoins are enjoying a decent rally and there are many coins with more than 15% gains.
Bitcoin price is up around 4.1% today and more importantly, the price broke the USD 11,000 resistance. BTC/USD is now trading in a bullish zone with supports on the downside around the USD 11,000 and 10,800 levels.
On the upside, the price is facing a short-term resistance at USD 11,250. A push above the stated level could open the doors for more gains toward the USD 11,600 level. Above USD 11,600, the next stop for buyers could be USD 12,000.
Ethereum is trading flat with no major gains. ETH/USD is moving around the USD 870 level. On the downside, a few key supports are at USD 860 and 850.
A break below the USD 850 support may spark an extended downside towards USD 810. To the topside, a push above the USD 880 level may call for a break of the USD 900 resistance.
Bitcoin Cash and Ripple
Bitcoin cash is performing well today along with bitcoin. BCH/USD is currently trading 4.2% higher to USD 1,290. It seems like the price may continue to move higher and it could break the USD 1,300 level.
Ripple is also trading flat along with Ethereum. XRP/USD is currently trading near USD 0.912 and it may make an attempt to rise towards the USD 0.95 level in the near term.
Other Altcoins Market Today
Today’s best performer so far is Nexus. NXS price rocketed by more than 140% to trade above the USD 4.60 level. There was a launch of the demo version of the Tritium wallet, which caught the market attention.
Overall, the market sentiment is positive and it seems like bitcoin price may continue to move higher towards the USD 11,500 level. Moreover, Ethereum could move above USD 900 during the coming sessions.