Bitcoin and Ethereum Look for Direction, LUNA and RUNE Accelerate
Bitcoin price is facing a major resistance near USD 39,500 and USD 40,000.Ethereum might face hurdles near USD 2,650, XRP is still struggling near USD 0.80.LUNA and RUNE gained over 7%.
Bitcoin price remained supported near the USD 37,500 zone. BTC is moving higher and even surpassed USD 39,000 before correcting lower. It is currently (12:03 PM UTC) trading above USD 38,900, and the bulls might face hurdles near the range resistance at USD 40,000.
Similarly, most major altcoins are moving higher in a range. ETH must clear the USD 2,650 resistance to gain pace. XRP is facing a major hurdle at USD 0.80. ADA is moving higher and might surpass USD 0.825.
Total market capitalization
After a fresh decline, bitcoin price found support near the USD 37,500 zone. BTC is moving higher and there was a brief move above the USD 39,000 level. If the price gains pace above USD 39,500, the bulls might attempt a move above USD 40,000. A close above this level is needed for a steady increase.
If there is no clear move, the price may perhaps start another decline to USD 38,000. The next key support is near the USD 37,500 level, followed by USD 37,200.
Ethereum price was stable near the USD 2,500 zone. ETH is correcting losses and attempting a move above USD 2,600. The next key hurdle stands near USD 2,650, above which the price may possibly gain bullish momentum.
If there is no clear break above USD 2,650, the price might move down. An initial support is near USD 2,500. The range support is near USD 2,450, below which the price might tumble.
ADA, BNB, SOL, DOGE, and XRP price
ADA was able to recover above the USD 0.80 pivot zone. An immediate resistance is near the USD 0.820 level. The main resistance is near the USD 0.85 level, above which the price might gain bullish momentum.
BNB declined below the USD 365 support, but there was no test of USD 350. The price is now recovering and trading near USD 370. The first major resistance is near USD 375, above which the price might rise to USD 388.
Solana (SOL) is consolidating above the USD 80 level. To start a steady increase, the price must clear the USD 85 resistance. Conversely, the price might slide and test the USD 72 support.
DOGE is attempting a recovery wave above the USD 0.115 level. The main hurdle is still near the USD 0.120 level. A close above USD 0.120 could set the pace for a fresh increase.
XRP price made another attempt to clear the USD 0.80 resistance but failed. If the bulls remain in action and the price stays above USD 0.75, there could be a stronger move above USD 0.80.
Other altcoins market today
Several altcoins are moving higher, including LUNA, EGLD, RUNE, ZEC, GRT, OKB, AR, TFUEL, and XDC. Out of these, LUNA is up 7% and is trading above USD 93, increasing its weekly gains to almost 18%. RUNE jumped 8%, neared USD 7, and is now up more than 50% in a week.
To sum up, bitcoin price is showing positive signs above USD 38,500. However, BTC is still in a range and must clear USD 40,000 to start a steady increase.