Bitcoin and Ethereum Stuck in Range, Altcoins Rebound

Bitcoin price failed to stay above $ 59,000 and corrected lower. BTC traded below the $ 58,500 and $ 58,000 support levels. It is currently trading above $ 57,000 (04:00 UTC) and is apparently bracing for the next major move.

ETH is trading above $ 2,080, with signs of more gains above $ 2,150. XRP / USD continues to outperform and is now trading above the $ 1.00 level.
Most of the major altcoins are slowly accelerating.

After struggling above $ 59,000, the price of bitcoin corrected lower. BTC broke the $ 58,000 support zone, but the bulls were active above the $ 57,200 support. It is now trading above $ 57,000 and approaching the $ 58,000 resistance. The first key resistance is near $ 58,500, above which the price could rally towards the $ 59,500 and $ 60,000 levels.
On the downside, the $ 57,200 and $ 57,000 levels are important supports. Any other loss could require a prolonged drop to $ 55,500.

Ethereum price also corrected lower from the all-time high of $ 2,155. ETH was trading below $ 2,100, but had a good offer near $ 2,050. There was a further rally above the $ 2,100 level, but the bulls need to clear $ 2,120 for a further rally.
On the downside, the $ 2,080 and $ 2,050 levels are key zones. Any further losses could drive the price to the $ 2,000 level.

Many altcoins got over 10%, including QTUM, HNT, BTG, KCS, OMG, XEM, VET, EGLD, ETC, DOGE, SOL, NEAR, NEO, and LINK. Of these, QTUM rallied over 40% and is now approaching the $ 20.0 level.

Overall, the bitcoin price is stuck in a range above the $ 57,000 support. The overall price action remains positive, suggesting a possible further rally above the $ 58,500 resistance.

 

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