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The price of bitcoin has settled below the USD 18,000 resistance level. BTC extended its decline below the USD 17,500 support, but the bulls remained active above USD 17,350. The price is currently (12:45 UTC) trading well above USD 17,500, but faces hurdles near USD 17,850 and USD 18,000.
Likewise, there have been range movements in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH / USD is now trading below the USD 480 and USD 485 resistance levels. XRP / USD is somewhat holding the USD 0.290 support, but may encounter resistance near USD 0.298 and USD 0.300.
Total market capitalization
Bitcoin price
After a close below the USD 18,000 level, the bitcoin price extended its decline below the USD 17,600 and USD 17,500 levels. BTC found support near USD 17,350 and rallied above USD 17,500. Immediate resistance is near the USD 17,850 level. The main resistance for a new hike is now forming near the USD 18,000 level.
On the downside, the USD 17,500 level is an initial support. The next major support lies at USD 17,350, below which bears could aim for a test of the USD 17,000 level.
Ethereum price
The price of Ethereum traded well below USD 480 and even broke the USD 475 support. ETH found support near the USD 465 level and is back above USD 470. However, the price is facing many hurdles, starting at USD 480.
If the price stays below USD 480, it may fall below USD 470 again. The next support is near the USD 465 level. Any further losses increase the risk of a break towards the USD 455 level.
Bitcoin cash, litecoin and XRP price
The cash price of bitcoin is attempting a new wave of recovery above the USD 245 level. If BCH stabilizes above the USD 250 level, the price could steadily rise towards USD 255 or even USD 260. The next big resistance for the bulls is near the USD 265 level. On the downside, the USD 242 and USD 240 levels are important supports.
Litecoin (LTC) rose more than 10% and broke the USD 76.50 and USD 78.00 resistance levels. LTC has even tested the USD 80.00 level and there seems to be scope for additional benefits. The next major resistance for the bulls awaits around USD 82.00. In the event of a downward correction, the price may find support near USD 78.00.
The XRP price found support near USD 0.290 and avoided a sharp decline. The price is slowly rising and approaching the USD 0.295 resistance. The first major resistance is near USD 298, above which the bulls may aim for a break above the USD 0.300 resistance.
More altcoin markets today
In the past few hours, some altcoins have gained over 5%, including SUSHI, OKB, YFI, HT, WAVES, CVT, RSR, and DX. Of these, SUSHI was up 20% and broke the USD 1.40 resistance.
To sum it up, the price of bitcoin has a hard time breaking through the USD 17,850 and USD 18,000 resistance levels. As long as BTC is below USD 18,000, there is a risk of a drop towards the USD 17,000 level.
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