It seems like bitcoin and altcoins started a fresh rally this week. Yesterday, in a major event, Circle acquired one of the biggest cryptocurrency exchanges – Poloniex. It pushed the market sentiment in the positive zone and prices moved higher. BTC/USD surged above the USD 10,000 and 10,500 resistance levels to set the pace for more gains.
Bitcoin started a fresh upward wave and succeeded in breaking a crucial resistance zone. It is currently trading 12.4% higher from the USD 9,455 low. A break above the USD 10,500 level is a bullish signal and it seems like the price may test USD 11,000.
However, BTC/USD may face a strong selling interest near USD 11,000 since it is a major resistance zone. On the downside, supports are at USD 10,400, 10,200 and 10,000.
Ethereum struggled to catch up bitcoin, but it still trading around 5.5% higher to settle above the USD 880 level. The ETH/USD pair is now facing a key resistance near USD 900.
If the pair succeeds in moving above the USD 900 resistance, it may perhaps continue to rally towards the next major hurdle at USD 950.
Neo, Bitcoin Cash and Ripple
Neo performed really well during the past few sessions and traded up by more than 20%. It is now approaching a crucial resistance at USD 150 where it may struggle. It seems like the Ontology airdrop for Neo holders is driving the market higher.
Bitcoin cash is up 11.7% to USD 1,287. BCH/USD succeeded in clearing a strong sell wall at USD 1,250, which has opened the doors for more gains above the USD 1,300 level.
Ripple jumped 7.5% to USD 0.955, with the next major resistance at USD 1.00. Above USD 1.00, the price could move back in a positive zone.
Other Altcoins Market Today
Today’s best performer so far is Cryptonex. CNX price is up around 53% to USD 7.64. The company started hardware wallets development, which ignited an upside move in the price.
Overall, the current price structure in bitcoin and altcoins is bullish today. BTC/USD could continue to move higher and it may perhaps test the USD 11,000 resistance.