The price of Bitcoin stabilized above the $ 23,000 level and it even climbed above the $ 23,500 level. However, BTC is struggling to clear the resistance levels of $ 23,880 and $ 24,000. It is currently (05:00 UTC) trimming the gains and it may even revise the $ 23,000 level.
Likewise, most of the major altcoins have struggled to continue to rise and show some bearish signs including ethereum, XRP, EOS, XLM, LINK, BNB, XRP, TRX, bitcoin cash, litecoin, and ADA. ETH / USD has crossed nearly $ 640 and is currently struggling to stay above $ 615 and $ 620. XRP / USD is gaining bearish momentum and trading below $ 0.400.
Total market capitalization
After launching a decent wave of recovery, the price of bitcoin has climbed above the resistance of $ 23,500. BTC even broke above $ 23,880, but struggled to gain ground above the $ 24,000 level. It is currently slashing gains and is trading well below $ 23,800. If it moves below $ 23,500, the next major support is near the $ 23,200 level.
Going down, the next major support is near the $ 23,000 level, below which there is a risk of a larger drop to the $ 22,500 and $ 22,250 levels.
Ethereum’s price rose above $ 630, but it failed near $ 640. As a result, there was a further decline and ETH broke through the $ 630 level. The price is now struggling to stay above $ 615. If there are more losses, the bears could test $ 600.
On the upside, the $ 628 and $ 630 levels are immediate hurdles. The main resistance is near the $ 638 and $ 640 levels.
Bitcoin cash, litecoin and XRP prices
The Bitcoin spot price is trading well below the resistance level of $ 330. BCH is testing the $ 310 level, below which it could test the main $ 300 support level. If there are more downsides, the price may possibly test the 288 USD level. On the upside, the price must accelerate above $ 325 and $ 330 for a further rise.
Litecoin (LTC) is showing positive signs and recently climbed above the resistance of $ 110.00. If LTC breaks above the $ 112.50 and $ 114.00 levels, it could easily revisit the $ 120.00 level. The next major resistance to the upside is near the $ 125.00 level.
The price of XRP is down more than 20% and it has broken many important supports near the $ 0.440 and $ 0.420 levels. It even broke the $ 0.400 support and is trading below the $ 0.388 level. If there are more downsides, the bears could test the $ 0.350 support area. On the upside, the $ 0.420 level could now prevent gains. As stated, the US Securities and Exchange Commission has filed a planned action against an XRP affiliate Ripple and two of its leaders.
The market for other altcoins today
Over the past few hours, a few altcoins have gained over 4% including BNT, XMR, LUNA, QNT, KSM, BNB, UNI, and CVT. Conversely, XLM, RSR, REP and ZRX are down more than 5%.
Overall, the price of bitcoin is reducing gains and is approaching a few important supports near $ 23,200 and $ 23,000. If BTC fails to stay above $ 23,000, it could cause a further decline. On the upside, resistance levels of $ 23,880 and $ 24,000 hold the key.