Bitcoin price remained in an area below the USD 18,800 resistance level. BTC holds the USD 18,200 and USD 18,000 support levels, but there are few signs of bearish. The price is currently (05:00 UTC) trading below USD 18,500 and could attempt another uptrend soon in the near future.
In the past few sessions, there has been a sharp surge in most major altcoins including Ethereum, XRP, Litecoin, EOS, XLM, LINK, BNB, TRX, Bitcoin Cash, and ADA. ETH / USD rose 7% and is now trading well above the USD 600 level. The XRP / USD continues to rise and was able to rise above USD 0.650 and USD 0.675.
Total market capitalization
There have been more than two rejections in Bitcoin price near the resistance zone of $ 18,800. BTC corrected lower, but the bulls were able to protect the USD 18,200 and USD 18,000 support levels. Price rebounds higher and trades above USD 18,350.
The first major resistance is near the $ 18,500 level above which the price could retest the $ 18,800 resistance. Further upside moves could pave the way for a strong rally towards USD 19,500.
The price of Ethereum rose steadily above the USD 600 resistance. ETH even removed the USD 612 resistance and is now trading near the USD 620 level. Immediate resistance is near the USD 625 level above which the bulls could target a test of USD 640 or even USD 648.
On a downward correction, the USD 605 and USD 600 levels could provide support. The next big support could form near the USD 585 level.
Bitcoin Cash, Litecoin and XRP Price
Bitcoin cash price rose over 15% and topped the resistance levels of $ 300 and $ 325. BCH is trading near USD 350 and could correct a few points. Initial support is near the $ 325 level below which the price could test the $ 310 level. Conversely, the price could continue to rise above USD 350 and USD 365.
Litecoin (LTC) is now trading above the USD 88.50 and USD 90.00 resistance levels. If current price movement remains intact, there is a possibility of a steady spike towards the USD 98.00 and USD 100.00 resistance levels. On the flip side, the USD 88.50 and USD 86.50 levels could offer support.
The XRP price stayed elevated and increased by over 50%. There was a significant break above the USD 0.650 and USD 0.675 resistance levels. If the price crosses the USD 0.700 level, the next stop for the bulls could be USD 0.715. On the downside, many supports are forming starting at USD 0.675 and USD 0.662.
Other altcoin market today
In the past few hours, many altcoins have gained over 15%, including XLM, ZEN, NANO, BTG, SNT, XEM, OXT, MONA, QTUM, TRX, ALGO, RVN, NEO, ETC, ICX, BAT, ZRX and ZEC. Of these, XLM did well and could soon hit the $ 0.200 resistance.
Overall, Bitcoin price is trading well below the USD 18,800 resistance levels. On the other hand, big altcoins are gaining pace and it seems that ETH, XRP, LTC, BCH and XLM could continue to outperform in the near future.