Altcoins, Bitcoin, Cryptocurrency

Crypto Market Update 01/06: Bitcoin Traded to a new ATH, Ethereum and Alts having a fresh rally

Bitcoin (BTC) gained bullish momentum and traded to a new ATH over USD 35,500. Ethereum is higher 10% and trading above USD 1,100, XRP is trying to clear USD 0.235. XLM and ADA are up over 20%.

After clearing the USD 32,500 resistance, Bitcoin started a fresh surge. It is up over 12% and it broke the USD 34,000 resistance. BTC broke the USD 35,000 resistance, traded to a new ATH near USD 35,750, and it is currently (05:00 UTC) consolidating gains.

Furthermore, there was a sharp upward move in most major altcoins, including ethereum, EOS, XLM, LINK, BNB, OMG, NEO, TRX, bitcoin cash, DOT, litecoin, and ADA. ETH/USD gained 10% and it broke the USD 1,080 resistance zone. Conversely, XRP/USD is still struggling to recover and it is trading well below USD 0.250.

Total Market Capitalization


Bitcoin Price

After a successful close above USD 32,500, Bitcoin (BTC) gained bullish momentum above the USD 33,200 and USD 33,500 resistance levels. BTC rallied over 12% and it even broke the USD 35,000 resistance. A new all-time high was formed near USD 35,750 and BTC is currently consolidating around USD 35,000. If there are more upsides, BTC could continue to rise towards the USD 36,000 and USD 36,800 levels.

On the downside, initial support is near the USD 34,500 level (the previous swing high zone). The next major support seems to be forming near USD 33,800.

Ethereum Price

Ethereum (ETH) followed bitcoin and gained pace above the USD 1,000 and USD 1,020 resistance levels. ETH even cleared USD 1,100 and it is showing bullish signs. A close above the USD 1,140 and USD 1,150 levels might clear the path for a move towards the USD 1,200 and USD 1,220 levels.

If there is a downside correction, ether could find bids near the USD 1,080 and USD 1,050 levels. The main support is now forming near the USD 1,000 level.

Bitcoin Cash, Litecoin, and Ripple Price

Bitcoin Cash (BCH) remained stable above USD 400 and it started a steady increase above the USD 420 resistance. BCH is trading above the USD 425 level and it could attempt a break above the USD 432 resistance. If there is a close above USD 432, the next key stop for the bulls may possibly be near the USD 450 level.

Litecoin (LTC) is up over 8% and it broke the USD 158 and USD 160 resistance levels. LTC is now trading comfortably above USD 160 and it might extend its rise towards the USD 168 and USD 170 levels. Any more gains might lead the LTC towards the USD 185 level.

Ripple (XRP) is underperforming and it is struggling to gain momentum above USD 0.235. The main breakout resistance is still near the USD 0.250 level. As long as XRP is below USD 0.250, there is a risk of a larger decline in the coming sessions.

Other Alts Market Today

Also, many altcoins are up over 10%, including XLM, ADA, SNX, MKR, HEDG, SUSHI, GRT, SNT, EGLD, ICX, KNC, QNT, LRC, DOGE, MAID, and BNT. Out of these, XLM is up over 30% and it is trading above USD 0.200.

In general, Bitcoin is gaining pace above the USD 34,800 and USD 35,000 levels. If the current trend remains intact, BTC could continue to rise towards the USD 36,000 and USD 36,500 levels.

Leave a Comment

Leave a Reply