Bitcoin price remained stable above the main support level of USD 18,800. As a result, BTC started a new surge and surged above USD 19,000. The price is currently trading (13:00 UTC) near the USD 19,200 level and it appears that the bulls are targeting a new high above USD 19,500 and approaching a new all-time high (ATH).
There was also a rebound in most of the major altcoins including Ethereum, XRP, Litecoin, EOS, XLM, LINK, BNB, TRX, Bitcoin Cash, and ADA. ETH / USD bounced back from the USD 580 support and could soon rise above USD 600. XRP / USD is up over 12% and could offset the USD 0.700 resistance.
Total market capitalization
After testing the $ 18,800 support, Bitcoin price rose steadily. BTC has broken the USD 19,000 and USD 19,200 levels. The next major resistance is near the USD 19,450 and USD 19,500 levels above which the bulls could target new all-time highs in the upcoming sessions.
If it drops again, the $ 19,000 level is an immediate support. The main support is forming near the $ 18,800 level, below which there is a risk of a sharp decline.
Ethereum price found strong support near the USD 580 level and recently rebounded above USD 590. ETH is approaching the USD 600 level. A closing price above the USD 600 level could trigger another spike towards the USD 615 and USD 620 levels.
Conversely, the price could drop below USD 590 again. The main support is forming near the USD 580 level. A significant break below USD 580 could mean a decline towards USD 560.
Bitcoin Cash, Litecoin and XRP Price
Bitcoin cash price remained stable above the $ 330 level and rose above the $ 340 level. It looks like BCH may revisit the USD 350 resistance soon. Further gains could push the price towards USD 370 and USD 375 in the short term. On the flip side, the USD 335 and USD 330 levels are important supports.
Litecoin (LTC) is rebounding and trading above the USD 86.50 level. Initial resistance is at $ 88.50, above which there is a high chance of a break above the $ 90.00 level. If you are not above the $ 90.00 level, this could potentially result in a steady decline towards the $ 85.00 level.
XRP price is rising again, breaking the $ 0.650 resistance. The price has increased over 12% and has hit the $ 0.680 level. The main hurdle is near the USD 0.700 level. A successful break above the USD 0.700 resistance could set the pace for a surge towards the USD 0.720 and USD 0.725 levels.
Other altcoin market today
In the past few hours, many altcoins have gained over 12%, including ZIL, XLM, XVG, XEM, DGB, SNT, NANO, SC, GNT, ZRX, LRC, ICX and ZEN. Of these, ZIL rose over 40% and even broke the USD 0.0325 resistance level.
In conclusion, Bitcoin price is showing positive signs above the USD 19,000 level. It seems like BTC is gearing up for a rally above USD 19,500 and USD 19,600 in the next few sessions.