RATE Group | Bitcoin Starts Upside Correction, Altcoins Trade Sideways
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Bitcoin Starts Upside Correction, Altcoins Trade Sideways

26 May Bitcoin Starts Upside Correction, Altcoins Trade Sideways

Posted at 11:18h in Bitcoin News by

After a sharp downside correction, bitcoin price found support near the USD 8,650 level. BTC started an upside correction and it is now (08:30 UTC) trading near the USD 9,000 level. To continue higher, it must clear the USD 9,050 and USD 9,200 resistance levels.
On the other hand, most major altcoins are trading in a range above key supports, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is holding the main USD 200 and USD 198 support levels. Similarly, XRP is above the USD 0.190 support and it might start recovering towards the USD 0.200 level.

Total market capitalization

Bitcoin Starts Upside Correction, Altcoins Trade Sideways 101
Source: www.tradingview.com

Bitcoin price

The current technical structure for bitcoin price suggests a short-term upside correction above USD 8,850 and USD 8,900. To move into a positive zone, the price must break the USD 9,200 resistance area. If the bulls succeed in clearing the USD 9,200 resistance, BTC might continue to rise towards the USD 9,500 resistance.
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