Bitcoin price is trading in a bullish zone above the USD 39,000 and USD 39,200 levels. BTC is currently (04:36 UTC) trading below USD 40,000. If there is a stronger downside correction, the price might find support near USD 39,200.
Besides, most major altcoins are gaining pace. ETH surged over 5% and it even broke the USD 2,400 level. XRP restarted its increase and it even surpassed the USD 0.750 resistance.
Total market capitalization
In the past three sessions, bitcoin price mostly consolidating gains above the USD 39,000 zone. BTC climbed higher above the USD 40,000 level, but it is struggling to gain bullish momentum. The current price action is still positive and it seems like the bulls might soon aim for more gains above USD 40,500. The next major resistance is seen near the USD 42,000 level.On the downside, the USD 39,200 level is an immediate support. The next key support is near USD 39,000, below which the price might start a substantial decline.
Ethereum price remained stable above the USD 2,250 level and it broke the main USD 2,325 resistance. As a result, there was a strong upward move above the USD 2,400 resistance. The price even tested USD 2,450 and it is now consolidating gains.If there is a downside correction, the price might find support near USD 2,380. The first major support is now forming near USD 2,350.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is up over 2% and it broke the USD 1.30 resistance. It seems like the price might soon clear USD 1.32. In this case, the price could continue to rise towards the USD 1.35 level. The next major resistance is near the USD 1.40 level. On the downside, the price might find bids near USD 1.25.Litecoin (LTC) managed to clear the USD 140 and USD 142 resistance levels. The next key stop for the bulls could be USD 150. Any more gains may possibly set the pace for a move towards USD 165. If there is a downside correction, the price might find bids near USD 135.Dogecoin (DOGE) is recovering above USD 0.205. It is approaching the USD 0.212 resistance. The main resistance is still near USD 0.220. A close above USD 0.220 might increase the chances of a move towards the USD 0.250 level.XRP price corrected lower, but it remained well bid near USD 0.690. As a result, there was a fresh increase above USD 0.700 and USD 0.720. The price even climbed above USD 0.750. Any more gains could lead the price towards the USD 0.800 level.
Other altcoins market today
Many altcoins gained over 8%, including QNT, SOL, ONT, RUNE, SNX, DASH, FTM, SC, MKR, ZRX, UNI, OMG, CRV, AAVE, BAT, and KSM. Out of these, QNT rallied 17% and surpassed the USD 130 level before correcting lower again.
Overall, bitcoin price is holding gains above the USD 39,200 level. If BTC remains stable and settles above USD 40,000, the next stop could be USD 42,000 in the near term._____