Bitcoin price gained momentum and remained well supported above USD 18,000. BTC climbed to USD 18,800 before consolidating gains. The price is currently trading well above USD 18,000 (05:00 UTC) but needs to gain momentum above USD 18,500 for a new rally, possibly towards USD 19,200.
Most major altcoins, including Ethereum, XRP, Litecoin, EOS, XLM, LINK, BNB, TRX, Bitcoin Cash, and ADA, also saw strong uptrends. ETH / USD climbed above USD 550 and USD 565 resistance levels. XRP / USD gained over 35% in the past two days and even broke the USD 0.450 resistance level.
Total market capitalization
Bitcoin price was recently corrected lower against the USD 18,800 resistance zone. However, BTC remained well supported near the $ 18,000 level. The next big weekly support appears to be forming near the USD 17,500 level. Further losses could lead to a downward correction in the medium term.
On the upside, the price is facing some major hurdles starting at USD 18,650. The first major resistance is at $ 18,750, followed by $ 18,800. A significant break above the weekly resistance of $ 18,800 could potentially open the doors for a push towards $ 19,200 or even $ 19,500.
The price of Ethereum broke the USD 500 barrier and started a sharp rise. ETH broke the USD 550 and USD 565 resistance levels to continue on an uptrend. It has tested the USD 585 level and is currently consolidating gains.
On the flip side, the USD 575 and USD 565 levels are decent support. Further losses could potentially push the price back into the key USD 550 support zone. On the upside, the price could go above USD 600.
Bitcoin Cash, Litecoin and XRP Price
Bitcoin’s price of cash rose steadily, breaking the resistance levels of $ 275 and $ 285. BCH is trading above USD 290 and it appears that the bulls are targeting an uptrend above the USD 298 and USD 300 levels in the short term. On a downward correction, the price could find support near $ 285.
Litecoin (LTC) has settled above the USD 80.00 level and is slowly gaining pace. LTC is trading above the $ 85.00 level with an immediate resistance at $ 88.00. A sharp break above the USD 88.00 and USD 90.00 levels could open the doors for a test of the important USD 100.00 barrier.
XRP price outperformed Ethereum and Bitcoin in the past two days as it gained over 35%. The price broke the USD 0.350 and USD 0.400 resistance levels. It even broke the $ 0.450 level and it seems that the current wave is far from over. The next major resistance is near the USD 0.500 level.
Other altcoin market today
In the past few hours, some altcoins have gained over 8%, including WAVES, NMR, ADA, YFI, BAL, REN, Berufsbildung, CEL, CELO and MIOTA. Of these, WAVES rose over 30% and broke the USD 7.80 level.
Overall, Bitcoin price is showing positive signs above the USD 18,000 support level. If BTC continues to find support, there is a possibility of a break above the USD 18,800 and USD 19,000 levels.