Bitcoin price remained well supported near the USD 17,500 level. BTC started a new surge and was able to climb back above USD 18,000 and USD 18,100. The price is currently trading near USD 18,200 (05:00 UTC) and it appears that the bulls are aiming for a break above the USD 18,500 resistance.
Similarly, there has been a surge in most major altcoins, including Ethereum, XRP, Litecoin, EOS, XLM, LINK, BNB, TRX, Bitcoin Cash, and ADA. ETH / USD climbed above the USD 480 and USD 485 resistance levels. XRP / USD is up 4% to trade above USD 0.300.
Total market capitalization
Bitcoin price rose again from USD 17,500. BTC gained 2% and was above the $ 18,000 level. The price is now trying to close above the USD 18,200 resistance. If this succeeds, there is a high likelihood of further upward movement above the USD 18,400 and USD 18,500 levels.
On the downside, the USD 18,000 level is an initial support. The first major support is now at $ 17,750, below which the price could revisit the $ 17,500 support.
The price of Ethereum is up 2% and has broken the USD 480 and USD 485 resistance levels. An immediate hurdle is at $ 488, above which the price could hit the $ 495 high again. The next major resistance for the bulls is at $ 500, followed by $ 508.
On a downward correction, the USD 480 level could provide support. Further losses could potentially push the price back towards the key USD 465 support area.
Bitcoin Cash, Litecoin and XRP Price
Bitcoin’s cash price is gaining traction above the $ 250 resistance. BCH is up 4% and even surpassed the $ 255 level. It seems like the price could even top USD 260 The main obstacle is now at USD 265. A significant break above the USD 265 level could set the pace for a move towards USD 280.
Litecoin (LTC) is doing well, up over 11%. LTC cleared the USD 78.00 resistance and was above USD 80.00. The price tests the USD 82.50 resistance. A sharp break above USD 82.50 and USD 83.20 could even cause the price to be above USD 85.00.
XRP price formed strong support near the USD 0.290 level and started a new spike. The price broke the USD 0.298 and USD 0.300 resistance levels to return to a positive zone. Immediate resistance is at USD 0.305. A successful close above USD 0.305 could open the doors for an uptrend towards the USD 0.312 and USD 0.320 resistance levels.
Other altcoin market today
In the past few hours, many altcoins have gained over 10%, including SUSHI, WAVES, RSR, UNI, YFI, DOT, HT, LTC, SNX and TMTG. Conversely, HEDG, XEM and STX are down over 8%.
Overall, the Bitcoin price is above the USD 18,000 support level. If BTC settled above USD 18,200, it could continue to climb towards USD 18,500 or even USD 18,800. If not, it could move back to the USD 17,750 level in the short term.