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The price of bitcoin has remained in a positive zone and has traded above the USD 18,500 level. BTC broke the USD 18,650 and USD 18,800 resistance levels. The price is currently (05:00 UTC) up 4% and it appears that the bulls are aiming for larger rises above USD 19,000 and USD 19,200.
Similarly, most major altcoins have gained bullish momentum, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH / USD broke above USD 590 and could break above the USD 600 resistance level. XRP / USD is trading in an uptrend, but needs to rise above USD 0.655 to gain strength.
Total market capitalization
Bitcoin price
The price of bitcoin leapt above the USD 18,500 resistance levels. BTC even broke the USD 18,650 and USD 18,800 resistance levels. The current price action is such that it appears that bitcoin may break above the USD 19,000 level. The next resistance is near USD 19,200, above which the price could revisit the main resistance of USD 19,500.
If there is a downward correction, initial support is near the USD 18,650 level. The first major support is near the USD 18,500 level (the recent breakout zone).
Ethereum price
The price of Ethereum is also following a bullish path and has settled above the USD 580 resistance. ETH is trading above USD 590 and could clear the USD 600 resistance. The next resistance lies at USD 612, above which the price could retest the USD 623 high formed earlier this month.
On the downside, an initial support is near the USD 585 level. The main support for the next 2-3 sessions could be USD 580.
Bitcoin cash, litecoin and XRP price
The cash price of bitcoin broke the USD 290 resistance but struggled to gain momentum above the USD 295 level. BCH broke above USD 300 and is slowly moving lower. On the downside, the USD 285 level is a decent support, followed by the USD 278 level. On the upside, the USD 295 and USD 300 levels are major hurdles for the bulls.
Litecoin (LTC) rose 6% and broke the USD 80.00 resistance level. An immediate resistance is at USD 80.80, above which the price could steadily rise towards USD 83.50 or USD 84.20. On the downside, the USD 78.50 level is short-term support. The next key support is near the USD 76.20 level.
The XRP price traded above the USD 0.600 level and even broke the USD 0.620 resistance. However, the price is facing strong resistance near USD 0.635 and USD 0.655. A proper close above USD 0.655 is a must for further upside in the near term. If not, the price may drop towards the USD 0.580 level.
More altcoin markets today
In the past few hours, many altcoins have gained over 5%, including AAVE, SNX, AMPL, YFI, UNI, SUSHI, NEXO, FTT, DCR, ABBC, DOT, KSM, NXM, LUNA, BAL, DASH and WAVES. Of these, AAVE and SNX are up more than 12% and report higher earnings.
To sum it up, bitcoin price is gaining speed above USD 18,500 and USD 18,650. If BTC stabilizes above USD 18,800, there is a high probability of a break above the USD 19,000 and USD 19,200 levels.
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