The past three sessions were super bullish and bitcoin price broke many important resistance levels, including USD 7,650 and USD 7,800. BTC/USD even surpassed USD 8,000 and USD 8,200 to post a new 2019 high close to USD 8,350. Similarly, there were significant gains in most major altcoins. Ethereum price broke the USD 200 and USD 210 resistance levels. Ripple price rallied more than 22% and traded above USD 0.380. Bitcoin cash recently surpassed the USD 400 barrier and it may continue to grind higher.
Total market capitalization
There were sharp gains in bitcoin price above the USD 7,650 and USD 8,000 resistance levels. BTC/USD is up more than 17% today (08:10 UTC) and it recently surged above the USD 8,200 and USD 8,300 levels. A new 2019 high was formed near USD 8,350 and it seems like the price is unstoppable. The next key resistance is at USD 8,400, above which the price could surge towards the USD 8,720 and USD 8,800 resistance levels.
If there is a downside correction, the recent resistances near USD 8,100 and USD 8,000 are likely to act as supports. Below USD 8,000, the price could revisit the USD 7,800 pivot level in the near term.
Ethereum price is up more than 12% and it recently broke the USD 200 and USD 205 resistance levels. ETH/USD is now trading well above the USD 210 level and it could soon test the USD 220 resistance.
On the downside, an initial support is near the USD 205 level, below which it could retest the USD 200 support. On the upside, a clear break above the USD 220 level may push the price towards USD 228.
Bitcoin cash, eos and ripple price
Bitcoin cash price surged more than 15% and broke the USD 375 and USD 390 resistance levels. BCH/USD even surged above the USD 400 level. The next key resistance is at USD 415, where sellers may emerge. On the downside, an initial support is at USD 390. The main support is at USD 382, where the bulls are likely to hold losses.
EOS recently rallied above the USD 5.80, USD 6.00 and USD 6.10 resistance levels. It tested the USD 6.20 level and it is currently correcting lower. An immediate support is at USD 5.95, below which the price might test the USD 5.80 support level.
Ripple price performed well and rallies significantly. XRP/USD is up more than 22% and it surged above the USD 0.360 and USD 0.380 resistance levels. There was even a spike above USD 0.400 and the price is currently correcting lower towards the USD 0.385 and USD 0.380 support levels.
Other altcoins market today
In the past three sessions, many small cap altcoins rallied sharply and gained more than 10%, including HOT, MIOTA, CLAM, THR, PAI, ICX, ONT, EOS, AE, AOA, NEO, INB, BTT, BTM and ETC. Out of these, HOT is up around 18% and MIOTA gained nearly 17%.
Overall, bitcoin price is gaining bullish momentum and it could continue to surge higher. The next targets could be USD 8,400 and USD 8,480. In the short term, there could be dips in BTC, but buyers are likely to remain in control.