Altcoins, Bitcoin, Cryptocurrency

Crypto Market Update 12/28: Bitcoin staying strong while Ethereum rallying beyond 700

Bitcoin is trading above USD 26,500 and USD 27,000. Ethereum rallied 10% and broke USD 700; XRP is struggling to stay above USD 0.300. LINK, RUNE, and DCR are gaining bullish momentum.


In the past few days, bitcoin continued in a positive zone above the USD 25,000 level. BTC even surged above USD 26,500 and traded to a new all-time high above USD 28,300 before correcting lower. BTC is currently (05:00 UTC) consolidating near USD 27,000, and it could continue more elevated in the near term.

On the contrary, some major altcoins struggle to gain bullish momentum, including XRP, litecoin, DOT, ADA, and XMR. ETH/USD outperformed and broke the USD 680 and USD 700 resistance levels. XRP/USD is struggling to remain in a positive zone, and it is now trading below USD 0.300.

Total market capitalization

Source: www.tradingview.com

Bitcoin Price

After clearing the USD 27,000 level, Bitcoin (BTC) gained bullish momentum above USD 27,500 and USD 28,000. BTC traded to a new all-time high above USD 28,300 before starting a downside correction. It spiked below USD 27,000 and tested the USD 26,000 support.

It is currently rising and trading above USD 26,800. If the bulls remain in action, there are chances of a steady rise above the USD 27,400 and USD 27,500 levels. The next significant resistance is still near the USD 28,000 level.

Ethereum Price

Ethereum (ETH) outperformed and rallied over 10% to clear the USD 680 and USD 700 resistance levels. ETH tested the USD 720 zone, and it is currently consolidating gains. Immediate resistance is near the USD 720, above which ETH could surge towards the USD 735 and USD 750 levels.

Initial support on the downside is near the USD 688 level. The first significant support is near the USD 680 level, below which the bulls might protect USD 650.

Bitcoin Cash, Litecoin, and Ripple Price

Bitcoin Cash (BCH) remained well bid above the USD 320 pivot level. BCH gained traction above USD 330, and it is showing positive signs above the USD 340 level. BCH could continue to rise if it clears the USD 350 level. The next significant resistance is still near the USD 350 level.

Litecoin (LTC) spiked above the USD 125 and USD 130 resistance levels before starting a downside correction. LTC traded below USD 130, and it is currently approaching the USD 125 support level. The next significant support is near the USD 122 and USD 120 levels. Any more losses could lead the LTC towards the USD 115 level.

Ripple (XRP) failed to stay above the USD 0.320 and USD 0.300 support levels. XRP is now trading well below the USD 0.300 level. XRP is now approaching the USD 0.280 level. Any more losses could lead the price towards the USD 0.275 and USD 0.274 support levels.

Other Alts Market today

A few altcoins gained over 5% in the past few hours, including LINK, RUNE, DCR, UNI, ZEN, OCEAN, and KSM. Out of these, LINK rallied almost 10%, and it broke the USD 12.20 resistance.

In general, bitcoin is trading beyond the USD 26,500 and USD 26,800 levels. BTC might continue higher if it clears the USD 27,250 and USD 27,500 resistance levels. On the downside, the USD 26,500 and USD 26,000 levels are decent supports.

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