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Over the past couple of days, bitcoin price has struggled to gain momentum above the USD 15,500 and USD 15,600 resistance levels. At the same time, BTC remained well offered above the USD 15,000 and USD 15,200 support levels. The price appears to be locked in a range and is currently (05:00 UTC) trading near the USD 15,350 pivot zone.
Meanwhile, most of the major altcoins are showing positive signs, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH / USD has risen above the USD 455 resistance and could trade above the USD 460 resistance. XRP / USD has risen above USD 0.255 and is showing positive signals above the USD 0.252 support zone.
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Bitcoin price
After another failed attempt near USD 15,500, the price of the tier bitcoin fell. BTC traded below the USD 15,350 level but remained well offered above the USD 15,000 support zone. The price is trading above the USD 15,200 level, with an immediate resistance at USD 15,450. The first key resistance is near USD 15,500, followed by USD 15,600.
A successful break above the USD 15,600 resistance is a must for the continuation to the upside. If it continues to struggle near USD 15,500 and USD 15,600, there is a chance of a sharp decline.
Ethereum price
The price of Ethereum began a steady rise after stabilizing above the USD 450 resistance. ETH was up over 2% and is now trading well above USD 455. A positive close above the USD 460 resistance level could possibly increase the chances of a break above the USD 468 and USD 470 resistance levels.
In the event of a downward correction, the USD 455 level may provide support. The main support is now forming near the USD 450 level.
Bitcoin cash, chainlink and XRP price
The cash price of bitcoin fell 3% and is now trading below the USD 260 support level. BCH holds the USD 255 support. If there are more losses, the next stop for the bears could be USD 250. On the upside, the USD 260 level is a short-term resistance. The main resistance is now near USD 265.
Chainlink (LINK) climbed steadily and traded above the USD 12.80 and USD 13.00 resistance levels. The price is now trading above the USD 13.10 level and is facing a minor hurdle near USD 13.35. The next big resistance for the bulls is near USD 13.50, above which they could point to a test of USD 14.00.
The XRP price managed to break out of the USD 0.255 resistance but failed to gain strength. It is currently consolidating just below USD 0.255, with strong support near USD 0.252. The next major support for the bulls is seen near the USD 0.250 level. On the upside, the price must strengthen above USD 0.255 and USD 0.258 for a sharp rise.
More altcoin markets today
In the past few hours, many altcoins have gained over 10%, including LRC, UMA, SUSHI, CELO, RSR, YFI, CHSB, KNC, STX, UNI, COMP and AMPL. Of these, LRC has risen by around 20% and is trading close to USD 0.20.
Overall, the bitcoin price is locked in a range below the USD 15,500 and USD 15,600 resistance levels. BTC appears to be preparing for the next move. It could sharply rise above USD 15,600 or fall below USD 15,000.
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