Bitcoin price gained momentum, breaking through the USD 23,500 resistance level and approaching USD 23,800. It is currently (11:45 UTC) trading near USD 23,650, up nearly 7% in a day and 22% in a week.
Similarly, other major altcoins are looking for more gains. ETH has returned to near USD 1,600 and may soon test the USD 1,650 resistance. XRP may soon rise to the USD 0.40 resistance level. ADA is aiming for the USD 0.55 resistance level.
After forming a base above USD 22,500, bitcoin price began a new upward trend and surpassed the USD 23,500 resistance. An immediate resistance is now near the USD 24,000 level.
RELATED: DOGE WAS THE MOST LOVED COIN
The next major resistance level could be USD 24,200, after which the price could rise to USD 25,000.On the downside, an initial support is near USD 23,200. The next major support is near USD 23,000, below which the price could correct to USD 22,500.
The price of Ethereum has formed a support base above the USD 1,500 level. ETH began a new uptrend and was able to break through the USD 1,550 resistance and approach USD 1,600, potentially testing USD 1,650 next. ETH is now up 3% in a single day and 53% in a week. The next major resistance level is USD 1,700, above which the price may begin to move towards USD 1,800. On the downtrend, an initial support level is located near USD 1,550. The next significant support is near USD 1,500, below which the price may correct lower towards USD 1,450.