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Bitcoin price remained stable above the USD 18,800 main support level. As a result, BTC started a new hike and surpassed USD 19,000. The price is currently (13:00 UTC) trading near the USD 19,200 level and it appears that the bulls are looking at a new high above USD 19,500, approaching a new all-time high (ATH).
There has also been a recovery in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash and ADA. ETH / USD has recovered from the USD 580 support and may soon rise above USD 600. XRP / USD is up more than 12% and could clear the USD 0.700 resistance.
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Bitcoin price
After testing the USD 18,800 support, the bitcoin price started a steady rise. BTC broke the USD 19,000 and USD 19,200 levels. The next key resistance is near the USD 19,450 and USD 19,500 levels, above which the bulls could point to a new all-time high in the coming sessions.
If there is a new drop, the USD 19,000 level is immediate support. The key support is forming near the USD 18,800 level, below which there is a risk of a sharp decline.
Ethereum price
Ethereum’s price found strong support near the USD 580 level and recently recovered above USD 590. ETH is approaching the USD 600 level. A close above the USD 600 level could trigger a new rise towards the USD 615 and USD 620 levels.
Conversely, the price could fall below USD 590 again. The main support is forming near the USD 580 level. A clear break below USD 580 could cause a decline towards USD 560.
Bitcoin cash, litecoin and XRP price
The cash price of bitcoin remained stable above the USD 330 level and climbed above the USD 340 level. It looks like BCH may soon revisit the USD 350 resistance. Any further gains could drive the price towards USD 370 and USD 375 levels in the near term. On the downside, the USD 335 and USD 330 levels are important supports.
Litecoin (LTC) is recovering and is trading above the USD 86.50 level. An initial resistance is found at USD 88.50, above which there is a high possibility of a break above the USD 90.00 level. Failure to settle above the USD 90.00 level could possibly initiate a steady decline towards the USD 85.00 level.
The XRP price is up again and broke the USD 0.650 resistance. The price increased by more than 12% and broke the USD 0.680 level. The main hurdle is near the USD 0.700 level. A successful break above the USD 0.700 resistance could set the pace for a push towards the USD 0.720 and USD 0.725 levels.
More altcoin markets today
In the past few hours, many altcoins have gained over 12%, including ZIL, XLM, XVG, XEM, DGB, SNT, NANO, SC, GNT, ZRX, LRC, ICX and ZEN. Of these, the ZIL rose more than 40% and even broke the USD 0.0325 resistance level.
To sum it up, the price of bitcoin is showing positive signs above the USD 19,000 level. It appears that BTC is preparing for a rally above USD 19,500 and USD 19,600 in the coming sessions.
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