Bitcoin and Ethereum Hold Key Support, Altcoins Surge – Cryptonews
Bitcoin price started a downside correction from well above USD 40,000. BTC declined below the USD 39,200 support level, but it was well bid above USD 37,500. It is currently (05:00 UTC) trading above USD 38,000, but it is facing hurdles near USD 39,200.
Similarly, ethereum corrected more than USD 200 from the USD 1,760 high, but it found a strong support near USD 1,500. Besides, most other major altcoins are showing positive signs. XRP/USD is stable above USD 0.400, but it is facing resistance near USD 0.440.
Total market capitalization
After a downside correction, bitcoin price found support near USD 37,500. BTC recovered above USD 38,000 and it is showing a few positive signs. The price is now trading well above USD 38,000, with an immediate resistance near the USD 39,200 level. A clear break above the USD 39,200 zone could open the doors for a fresh test of USD 40,000.
An initial support is near the USD 38,000 level. The first major support sits at USD 37,500, below which the price might test the main weekly support at USD 35,500.