In the past few days, Bitcoin (BTC) price has been on a continual rally. Earlier today, the price of the cryptocurrency soared high above $28,000 before correcting lower. Ethereum (ETH) too had a positive performance while breaking the $680 and $700 resistance levels. Meanwhile, XRP is still struggling for a positive performance and currently trading below the $0.300 level.
Crypto Market Update: Bitcoin (BTC) and Ethereum (ETH) Price
Bitcoin has gained bullish momentum above $27,500 and $28,000 after clearing the $27,000 level. Bitcoin’s price has traded to a record-breaking all-time high above $28,300 before retreating to a downwards correction. The price of the cryptocurrency spiked below $27,000 and tested for $26,000 support.
The cryptocurrency is currently trading above $26,800. If the bullish momentum continues, there are chances of a steady rise above the $27,400 and $27,500 levels. The next major resistance for Bitcoin sits near the $28,000 level.
Ethereum (ETH) too had a positive performance while rallying over 10% to clear the $680 and $700 resistance levels. The cryptocurrency did test the $720 zone and is currently consolidating gains. There seems to be an immediate resistance near the $720.
The upwards movement of the cryptocurrency could lead towards the $735 and $750 levels. An initial support on the downside is near the $688 level while major support sits near the $680 level.
Crypto Market Update: XRP and Altcoins
Meanwhile, the price of XRP has failed to stay above $0.320 and $0.300 support levels. The controversial altcoin is now trading below the $0.300 level with an approaching $0.280 level.
Further price loss could lead the price towards the $0.275 and $0.274 support levels. While, in the event of an extended rally, XRP’s price could test resistance at $0.32. The second major resistance sits at $0.3326.
Major altcoins are struggling to gain bullish momentum, including Litecoin, DOT, ADA, and XMR. Meanwhile, over the past few hours, a few altcoins seemed to have gained over 5%, including LINK, RUNE, DCR, UNI, ZEN, OCEAN, and KSM. Above all, LINK rallied almost 10% while breaking the $12.20 resistance.