Bitcoin and Altcoins Respond To Key Uptrend Support

Bitcoin price was unable to rally above the USD 17,350 and USD 17,500 resistance levels. BTC is showing some negative signs, but is still well above the USD 16,500 and USD 16,250 support levels. The price is currently trading around USD 17,000 (13:00 UTC) and is attempting to trade higher towards USD 17,350.

Most major altcoins have seen a slight decline towards major supports, including Ethereum, XRP, Litecoin, EOS, XLM, LINK, BNB, TRX, Bitcoin Cash, and ADA. ETH / USD is trading above USD 500 but faces hurdles near USD 525 and USD 530. XRP / USD retested the USD 0.500 support level and bounced back above USD 0.540.

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Bitcoin price

Bitcoin price fell again after being rejected near the USD 17,350 level. There was a pause below the USD 17,000 level. However, the bulls were able to protect the USD 16,500 support zone. The price rebounded and is trading near USD 17,000. On the upside, initial resistance is at USD 17,200. The first major resistance for the bulls is at USD 17,350.

Initial support on the downside is near the USD 16,800 level. The first major support is near the $ 16,500 level, below which the major support of $ 16,250 could be questioned.

Ethereum price

Ethereum price is facing strong resistance near the USD 530 level and could struggle to gain momentum. If ETH removes the USD 530 resistance, it could steadily rise towards the USD 550 and USD 555 resistance levels in the coming sessions.
Conversely, there is a risk of another break below the USD 502 and USD 500 support levels. The main support is near the USD 480 level, below which the price could fall towards the USD 450 level.

Bitcoin Cash, Litecoin and XRP Price

Bitcoin cash price is trading above the USD 260 support level. Immediate resistance is near the USD 270 level. To start a decent uptrend, BCH needs to break above the USD 275 and USD 280 resistance levels. If not, the price could drop further below $ 250 and $ 240.
Litecoin (LTC) failed to break the $ 75.00 level and fell below $ 70.00. On the downside, the $ 65.00 level acts as a strong support. The next major buy zone is near the USD 62.00 and USD 60.00 levels. On the upside, the price needs to gain bullish momentum above USD 75.00 to trigger a strong bullish wave.
XRP price saw some swing moves but remained stable above the $ 0.500 level. The price is now trading above USD 0.540 and encountering resistance near USD 0.565. A significant break above USD 0.565 could lead XRP towards the USD 0.592 and USD 0.600 resistance levels.

Other altcoin market today

In the past few hours, some altcoins rose over 5%, including SUSHI, YFI, XLM, NANO, CEL, KSM, WAVES, NEXO, STX and VET. Conversely, SC, ZEN, EWT, ZIL, EOS, BSV and CRO have all decreased by over 5%.

In conclusion, Bitcoin price is consolidating in a wide range above the USD 16,500 support. BTC could move in a range either above USD 17,500 or towards USD 15,800 in the next 2-3 days before the next move.

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Bitcoin and Altcoins respond to the support of the Key Uptrend 102