- The price of Bitcoin broke above the resistance of 20,500 USD.
- Ethereum jumped 13%, XRP is up more than 7%.
- SOL and UNI are up more than 12%.
Bitcoin price settled above the $20,000 pivot level. BTC picked up momentum to break above the $20,500 resistance zone. It is currently (11:26 UTC) up 5.7% and may still break above the resistance at $21,200.
Likewise, most major altcoins are gaining bullish momentum. ETH rebounded 13% and broke through the $1,200 level. XRP is targeting a move above the $0.35 resistance zone. ADA might be targeting a rally if there is a move above the $0.45 resistance zone.
Total market capitalization
After a close above the $20,000 pivot level, bitcoin price began its increase. BTC was able to clear the $20,500 resistance zone. It opened the doors for a move above USD 20,800. An immediate resistance is now near the USD 21,200 level. The next major resistance could be $21,500, above which the price could pick up some bullish momentum.
On the downside, an initial support is near the $20,500 level. The next major support is near the $20,200 area, below which the price could retrace to $20,000.
Ether price outperformed bitcoin and gained momentum above the $1,150 resistance. ETH is up 13% and there was a move above the $1200 level. The next major resistance lies at $1,250, above which the price could aim for a test of $1,320.
On the downside, the price may find support near $1,180. The next major support is near $1150, below which the price may visit the $1120 support zone.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) is showing positive signs above the $0.42 support zone. It is now approaching the resistance at $0.45. A close above the $0.45 resistance could initiate a steady rise.
BNB is gaining momentum above the $235 resistance. The price is now approaching the $242 resistance, above which the price may rise towards the $250 resistance zone.
Solana (SOL) surged over 12% and settled well above the $35 resistance level. The next major hurdle is near $38.80, above which it could test the key barrier at $40. Any additional wins might require a $42 test.
DOGE steadily rising above the $0.062 support level. It is trading above the $0.0632 level and may soon test the $0.065 resistance zone.
XRP Price rises towards the resistance zone of $0.35. If there is a clear move above $0.35, the price could accelerate higher. In this case, the price could rise towards 0.40 USD.
Market of other altcoins today
Many altcoins are currently rising, including DOT, TRX, SHIB, MATIC, AVAX, UNI, LTC, FTT, NEAR, ATOM, XMR, ALGO, and XTZ. Of these, MATIC rebounded nearly 13% and surged towards the $0.70 level.
In summary, bitcoin price is accelerating towards the resistance at $21,200. If BTC clears $21,200, it could hit the $22,000 level in the near term.