Altcoins, Bitcoin, Cryptocurrency, News & Updates

Crypto Market Update 01/07: Bitcoin Hits New All-Time High, Ether and Alts Boosting, XRP Swelling

Bitcoin extended its rally and traded to a new all-time high over USD 37,500. Ethereum exceeded USD 1,200, and it is showing positive signs; XRP broke the USD 0.250 resistance and rallied over 30%. XLM, XEM, and ADA are up over 20%.


After a fresh bullish breakout beyond USD 35,000, the Bitcoin started a new rally. BTC broke the USD 36,000 resistance and extended its rally above USD 37,000. It traded to a recent all-time high close to USD 37,700, and it is currently (05:00 UTC) consolidating above USD 37,000.

Similarly, there was a strong upward move in most significant altcoins, including ethereum, EOS, XRP, XLM, LINK, BNB, OMG, NEO, TRX, bitcoin cash, DOT, litecoin, and ADA. ETH/USD cleared the USD 1,150 hurdle, and it even surpassed the USD 1,200 resistance. Also, XRP/USD started a strong recovery, and it cleared the USD 0.250 and USD 0.280 resistance levels.

Total Market Capitalization

Source: www.tradingview.com

Bitcoin Price

After a close above the USD 35,000 level, Bitcoin (BTC) gained bullish momentum above the USD 35,500 and USD 36,000 resistance levels. BTC rallied over 10%, and it even broke the USD 37,000 resistance. A new all-time high was formed near USD 37,700, and BTC is currently consolidating above USD 37,000. A further increase may lead BTC towards the USD 38,000 and USD 38,250 levels.

On the downside, initial support is near the USD 36,800 level. The first significant support seems to be forming near USD 36,200.

Ethereum Price

Ethereum (ETH) followed a robust bullish wave and broke a couple of essential hurdles near USD 1,150 and USD 1,180. ETH even cleared the USD 1,200 level and traded to a new multi-month high above USD 1,220. If there are more upsides, the bulls might test the USD 1,280 and USD 1,300 levels.

If there is a downside correction, ETH could find bids near the USD 1,180 and USD 1,140. The first support is now forming near the USD 1,100 level.

Bitcoin Cash, Litecoin, and Ripple Price

Bitcoin Cash (BCH) broke the USD 432 resistance to start a new increase. BCH was able to clear the USD 440 and USD 450 levels. The BCH is now trading in a bullish zone above USD 450, and it could continue to rise towards the USD 465 and USD 470 levels. Conversely, a correction might find bids near the USD 432 and USD 430 levels.

Litecoin (LTC) is rising steadily above the USD 155 and USD 160 levels. LTC seems to be facing a strong resistance near USD 170 and USD 172. A close above the USD 172 level might accelerate gains. In the stated case, the LTC could easily drift towards the USD 185 and USD 190 levels.

Ripple (XRP) started a strong recovery wave after a brief consolidation above the USD 0.212 support. The XRP rallied over 30%, and it broke many hurdles near USD 0.250 and USD 0.280. It even spiked above USD 0.300, and it seems like the XRP might correct lower in the short-term.

Other Alts Market Today

Many altcoins gained over 15%, including XLM, XEM, ADA, REN, QTUM, EOS, UMA, NEO, LINK, DCR, TRX, and BTG. Out of these, XLM retained gains, and it is trading above the USD 0.35 level.

In general, Bitcoin is extending its rally above USD 37,000. If BTC remains stable above USD 36,800 and USD 36,000, there are chances to move above USD 38,000.

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