Recently, there was a strong recovery wave in bitcoin price above the USD 7,000 resistance area. BTC/USD climbed above the USD 7,200 resistance and recently surged above USD 7,400. The price even spiked above USD 7,600 and it is currently (09:00 UTC) correcting gains.
Likewise, there was a strong upward move in major altcoins, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD is broke the key USD 150 resistance area and tested the USD 155 hurdle. XRP/USD is now trading above the USD 0.220 resistance and it could rise further above USD 0.225.
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After an upward move, bitcoin price settled above the USD 7,000 resistance area. BTC/USD is now trading above the USD 7,400 resistance and it is correcting gains. An initial support is near the USD 7,400 level, below which it could test the main USD 7,320 support area.
On the upside, the main resistances are near the USD 7,550 and USD 7,650 levels. A clear break above the USD 7,650 resistance area may perhaps set the tone for a decent upward move. The next key resistances are near USD 7,850 and USD 8,000.
Ethereum price bounced back above USD 150 resistance and it even tested the USD 155 resistance area. ETH/USD is now trading above USD 152, with supports near USD 150 and USD 148.
On the upside, the first key resistance is near the USD 155 level, above which there are high chances of more upsides above the USD 158 and USD 160 levels. Any further gains could lift the price towards USD 165.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is trading above the USD 200 and USD 205 resistance levels. BCH/USD is now trading above USD 220, but it is struggling to rise above the USD 225 resistance area. A clear break above USD 225 may perhaps lead the price towards the USD 240 level.
Litecoin is slowly rising towards the USD 47.50 and USD 48.00 resistance levels. Having said that, a clear break…