Bitcoin And Altcoins Could Correct Before Fresh Increase

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bitcoin and altcoins prices

There were mainly variety relocations in bitcoin price listed below the USD 4,000 resistance level. BTC/USD recuperated from the USD 3,900 support, but it had a hard time to break the USD 3,980 and USD 4,000 resistance levels.

It seems like there could be a small decline towards the USD 3,920 and USD 3,900 supports before the price attempts to break the USD 4,000 resistance. Similarly, there were a couple of bearish relocations in ethereum and ripple, but both rebounded and challenged key resistances at USD 150 and USD 0.330 respectively.

Total market capitalization

Total market capitalization
Source: coinmarketcap.com

Bitcoin price

There was another effort by bitcoin price to acquire strength above the USD 4,000 resistance. However, BTC/USD stopped working near USD 4,020 and later fixed lower. It moved below the USD 3,960 support and it seems like there might be an extended disadvantage correction towards the USD 3,920 and uSD 3,900 support levels.
On the benefit, the USD 3,980 level is a preliminary resistance followed by USD 4,000. An effective hourly and 2-hour close above the USD 4,000 resistance is needed for purchasers to acquire bullish momentum in the near term.

Ethereum price

Ethereum price recovered above the USD 145 level, with a bullish angle. However, ETH/USD seems to be facing a strong resistance (UTC 08:10 AM) near the USD 148 and USD 150 levels.
A clear break above the USD 150 resistance will most likely clear the course for more gains towards the USD 156 and USD 160 levels. On the disadvantage, a preliminary support is at USD 145, listed below which the price might test the USD 142 support.

Bitcoin cash, eos and ripple price

Bitcoin Cash price is correcting lower from the USD 148 resistance area. BCH/USD declined below USD 145 and it appears like the price may check the USD 140 support in the near term. On the advantage, the damaged USD 145 level will probably serve as a resistance, followed by USD 148.

EOS performed well recently and gained more than 6%. The price went beyond the USD 2.75 resistance and tested the USD 2.85 level, where sellers emerged.

Ripple price stayed above the USD 0.315 support and recovered above the USD 0.325 resistance. However, XRP/USD dealt with a strong resistance near the USD 0.330 level and it is presently declining towards the USD 0.325 and USD 0.322 support levels.

Other altcoins market today

In the previous few hours, lots of small cap altcoins traded higher between 6%-25%, including BRIX, REPO, MCO, ONT, TOMO, FAIRY, STRAT, DGB and FCT. Out of these, REPO acquired more than 20% and MCO is up near to 15%.

Overall, bitcoin price is well supported above the USD 3,900 level, with a bullish angle. However, BTC/USD must break the USD 4,000 level to climb even more higher. If buyers continue to struggle, there might be a short-term pullback in bitcoin and altcoins in the coming sessions.

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