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Over the past three sessions, there has been a steady rise in the bitcoin price above the USD 19,000 resistance. BTC broke the last swing high near USD 19,500 and hit a new annual high above USD 19,800. The price is currently (05:00 UTC) consolidating the gains and may attempt a move towards USD 20,000 in the near term.
Additionally, there have been positive moves in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH / USD traded above the USD 600 pivot level and even traded close to USD 620 before correcting to the downside. XRP / USD is trading well above USD 0.620 but is facing hurdles near USD 0.655 and USD 0.662.
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Bitcoin price
After a successful close above USD 19,000, the bitcoin price extended its rise above the USD 19,200 resistance. BTC managed to gain strength above the USD 19,500 resistance and even climbed above USD 19,800. No USD 20,000 resistance test has been made and the price is currently correcting gains.
Initial bearish support is near the USD 19,200 level. The first major support is near the USD 19,000 pivot level, below which the price could test the key USD 18,800 support zone.
Ethereum price
Ethereum’s price followed bitcoin and traded above the USD 600 resistance. ETH also traded above USD 615 but failed to break out of the recent annual high of USD 623. The price is currently correcting the gains and could test the USD 602 and USD 600 levels.
On the upside, the USD 615 and USD 620 levels are key barriers. A clear break above the USD 620 level could call for a new 2020 high above the USD 625 level in the near term.
Bitcoin cash, litecoin and XRP price
The cash price of bitcoin rose 7% and broke the main resistance of 300 USD. BCH is trading above the USD 310 level, with immediate resistance at USD 318 and USD 320. Any further gains could drive the price towards the USD 335 level. On the downside, the previous resistance at USD 300 could act as a support.
Litecoin (LTC) has grown by over 10% and has overcome many hurdles near USD 86.50 and USD 88.00. LTC even jumped above USD 90.00. The next key resistance is near USD 92.00, above which the price could rise towards the USD 98.00 and USD 100.00 levels. On the downside, the USD 86.50 level may provide support.
The XRP price gained bullish momentum above USD 0.640 and even rallied above the USD 0.655 resistance. The price is showing positive signals, but a close above USD 0.655 and USD 0.662 is a must for a move towards the USD 0.688 and USD 0.700 levels in the coming sessions. On the downside, the USD 0.620 level is a strong support.
More altcoin markets today
In the past few hours, many altcoins have risen by more than 5%, including BTT, MANA, NEXO, SUSHI, ZEN, TRX, LUNA, HOT, XEM and ANT. Of these, BTT rallied nearly 20% and MANA gained 10%.
Overall, the price of bitcoin is showing positive signs above USD 19,000 and USD 19,200. That said, it will not be easy for BTC to clear the USD 19,800 and USD 20,000 resistance levels in the short term.
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