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Bitcoin and Altcoins Might Gain Bullish Momentum

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In the past few hours, there were many swing moves in bitcoin above the USD 3,880 resistance. BTC even fell sharply below USD 3,850, but downsides were limited. The price is currently (UTC 08:20 AM) trading with a positive bias above the USD 3,880 level and it seems like buyers are eyeing an upside break above USD 3,900 and USD 3,950. Ethereum price retested the USD 130 support and bounced back above USD 132. ETH/USD is moving higher and it may clear the USD 135 resistance in the near term. Ripple price is currently consolidating above USD 0.311 and it might rise towards the USD 0.314 and 0.315 resistance levels.

Bitcoin price
After a sharp dip below the USD 3,850 support, bitcoin price bounced back. BTC/USD is trading above the USD 3,850 support, with a positive angle. The current technical structure is positive and it seems like there are high chances of an upside break above the USD 3,900 and USD 3,920 resistance levels.
The next key resistances are at USD 3,950 and USD 4,000. If there is a downside correction below the USD 3,850 support, the price could revisit the USD 3,800 support level.


Ethereum price
Ethereum price also followed a similar pattern and declined sharply below the USD 131 and 130 levels. Later, ETH/USD recovered and settled above USD 132.
The price is trading higher, with signs of an upside break above the USD 134 and USD 135 resistance levels. If buyers fail again, the price will likely revisit the USD 130 support area in the coming sessions.

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Bitcoin cash, eos and ripple price
Bitcoin cash price increased steadily above the USD 130 and USD 131 resistance levels. BCH/USD is currently trading above USD 132 and it could rise towards the USD 134 and USD 135 resistance levels. On the downside, the USD 130 level is the key support.
EOS is again attempting to clear the USD 3.60 resistance level. If it succeeds, the next stop for buyers could be USD 3.70 or USD 3.75. On the downside, the main supports are near USD 3.55 and USD 3.50.
Ripple price is trading flat above the USD 0.310 and 0.311 levels and facing a lot of hurdles near the USD 0.312, USD 0.314 and USD 0.315 levels. If there is a downside break below the USD 0.310 support, XRP could decline towards the USD 0.305 support.


Other altcoins market today
In the past two sessions, many small cap altcoins extended gains and moved up by more than 8%, including CRO, LSK, DGTX, QTUM, MCO, WAN, XVG, XEM, DCR and PPT. Out of these, CRO rallied more than 50% and LSK is up close to 20%.

The overall technical formation is suggesting gains in bitcoin as long as there is no daily close below USD 3,800. On the upside, BTC must gain strength above the USD 3,900, USD 3,950 and USD 4,000 resistance levels to continue higher.

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