Bitcoin price remained above the USD 9,550 level in a bullish zone. BTC expanded its rise above the USD 9,600 level and traded to a new monthly high near USD 9,650. It is currently correcting (09:00 UTC) gains and can test the USD 9,400 support zone.
Most major altcoins trade in a positive zone above key supports, including Ethereum, XRP, Litecoin, Bitcoin Cash, BNB, EOS, TRX, XLM and ADA. ETH / USD outperformed BTC and broke the USD 275 resistance. XRP / USD is trading above USD 0.202 and needs to free up USD 0.205 in the near term for more benefits.
Total market capitalization
There were further gains in the bitcoin price above the USD 9,550 resistance. BTC was trading near a new monthly high near USD 9,650 and recently started a downward correction. It traded below USD 9,550 and USD 9,500. The next big support is near the USD 9,400 level, below which there is a chance of a steady decline towards the USD 9,300 level.
On the upside, the USD 9,550 level is a first hurdle for the bulls. The biggest hurdle is now near USD 9,650, above which the price could stay higher towards USD 9,800.
Ethereum price extended its rally above the USD 270 and USD 275 levels. ETH even peaked above USD 280 before starting a downward correction. The price is now trading near USD 270 and may continue to correct lower towards the USD 262 and USD 260 levels.
To stay higher, the price needs to gain strength above the USD 272 and USD 275 levels. The next major resistance is near the USD 280 level.
Bitcoin cash, ADA and XRP price
Bitcoin cash price did not stay above the USD 240 resistance level. BCH is now trading below USD 235 and nearing the USD 230 support level. If it does not remain above USD 230 support, there is a risk of an extended drop to USD USD 222. On the upside, the USD 240 level remains a major hurdle.
ADA struggled to stay above the USD 0.125 level and fell below USD 0.124. The price is trading near USD 0.122 and may revisit USD 0.120 support. Any further losses can push the price to the $ 0.118 level.
XRP price settled above the USD 0.200 level and trading above the USD 0.202 level. On the upside, the price is struggling to clear the USD 0.205 level. If there is a clear break above USD 0.205, there is a high probability of a sharp rise above the USD 0.208 and 0.212 levels.
Other altcoins market today
In the past three sessions, three small altcoins achieved more than 10%, including FXC, DGB and ZEN. Conversely, RSR, BNT, BAND, DGTX, KAVA, QNT, LEND, WAVES, ABBC, ALGO, CEL, VLX and CHSB have decreased by more than 5%.
Overall, bitcoin price corrects gains below $ 9,550. However, BTC is still trading in a positive zone and could continue to climb towards the USD 9,650 or even USD 9,800 level. Conversely, $ 9,400 could halt the current decline in the near term.