Bitcoin (BTC) retested the USD 29.2K support zone and recovered over USD 31K. While on the flip side, Ethereum (ETH) is trading over USD 1,250, XRP is consolidating near the USD 0.255 pivot level. SC, FTM, and DOGE are up over 19%.
Bitcoin declined further under USD 30,000, but the bulls prevented heavy losses under USD 29,200. BTC started a steady recovery over USD 30,000 and USD 30,500. It is currently (13:00 UTC) trading over USD 31,000, and the bulls seem to be aiming for a test of USD 32,000.
Furthermore, most significant altcoins are recovering from significant supports. ETH/USD is back over USD 1,250, and it is now facing resistance near USD 1,300. XRP/USD found support near USD 0.244, and it is consolidating well under USD 0.265.
Total Market Capitalization
Bitcoin Price
After trading towards the USD 29,000 support, Bitcoin (BTC) started a steady recovery. BTC traded over the USD 30,000 level, and it cleared the USD 30.500 resistance levels. The price also settled over USD 31,000, and it is now facing resistance near USD 31,400. The next significant resistance is near USD 32,000, where the bears might take a stand.
On the downside, the USD 30,500 level is a short-term support. If there is a fresh decline under USD 30,000, it could be difficult for the bulls to protect USD 29,000.
Ethereum Price
Ethereum (ETH) found a strong buying interest near the USD 1,200 level. ETH recovered losses and climbed over the USD 1,250 pivot level. The price is now facing resistance near the USD 1,300 level. A successful close over the USD 1,300 level may increase the chances of a rise towards the USD 1,350 level.
If there is no upside break over USD 1,300, the price could decline towards the USD 1,250 support. The critical uptrend support is now forming near the USD 1,200 level.
Bitcoin Cash, Litecoin, and Ripple Price
Bitcoin Cash (BCH) settled under the USD 400 pivot level. BCH tested the USD 370 level, and it is currently correcting higher. On the upside, the USD 398 and USD 400 levels could prevent gains. An explicit close over USD 400 might push the price towards the USD 425 resistance level.
Litecoin (LTC) extended its decline under the USD 125 support, and it even spiked under USD 120. There was no test of the USD 112 support, and the price is currently consolidating near USD 125. If there is a break between USD 132 and USD 135, the price could start a new increase. Conversely, there is a risk of a drop to USD 112 and USD 105.
Ripple (XRP) broke the USD 0.255 support level, but losses were limited. It seems like the bears are losing steam, and there are chances of a recovery wave over the USD 0.265 and USD 0.272 levels. On the downside, the USD 0.244 and USD 0.240 levels are decent support zones.
Other Alts Market Update
A few altcoins climbed over 5%, including FTM, DOGE, 1INCH, RUNE, EGLD, BAT, XTZ, UNI, DCR, CHSB, KSM, VGX, and AAVE. Out of these, DOGE rallied over 60%.
In general, the bitcoin is recovering losses of over USD 31,000. BTC must surpass USD 32,000 and USD 32,400 to increase the chances of more upsides. If not, it could revisit USD 30,000.
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