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There has been no bearish break below the USD 18,500 and USD 18,200 support levels. As a result, BTC started a new rise and recovered above the USD 18,000 and USD 19,000 resistance levels. The price is currently (13:00 UTC) trading above USD 18,800 and could attempt a new rise towards USD 19,200 or higher.
Likewise, most major altcoins have initiated a wave of recovery, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH / USD broke through the USD 595 resistance and even jumped above USD 600. XRP / USD was well offered above the USD 0.600 level and rallied above USD 0.620.
Total market capitalization
Bitcoin price
After forming a support base near USD 18,500, the bitcoin price has started a wave of recovery. BTC rose above the USD 18,800 and USD 19,000 resistance levels. It even surpassed USD 19,200, but struggled to continue rising. The price is consolidating above USD 18,800, below which it could find support near USD 18,500.
If a new rise occurs, the price could gain momentum above the USD 19,000 level. The next key resistance is at USD 19,200. A clear break above USD 19,200 could call for a rally to USD 19,500.
Ethereum price
Ethereum’s price remained well offered above the USD 575 and USD 580 levels. ETH climbed above the USD 595 resistance and even attempted to settle above USD 600. However, the bulls appear to be facing strong selling interest near USD 600 and USD 605.
On the downside, the price may remain stable above the USD 580 support. A close below USD 580 could drive the price towards the USD 550 support level.
Bitcoin cash, litecoin and XRP price
The cash price of bitcoin is steadily rising towards the USD 295 and USD 300 resistance levels. To initiate a strong rally, the price must stabilize above the USD 300 resistance. Conversely, dips towards the USD 280 level could find solid buying interest. The next major support is near the USD 272 level.
Litecoin (LTC) rose more than 7% and rose sharply above the USD 86.50 resistance. LTC even broke the USD 88.50 level but struggled to break above USD 90.00. The price is trading above USD 86.50 and it looks like the bulls might make another attempt to clear the USD 90.00 resistance in the near term.
The XRP price is trading well above the USD 0.600 support level. There was a break above the USD 0.615 and USD 0.620 levels before a slight decline. The price is rising again and could clear the USD 0.620 resistance. The main resistance is now near USD 0.630, above which the price could rise towards the USD 0.655 level.
More altcoin markets today
In the past few hours, some altcoins have gained over 5%, including SUSHI, EGLD, RUNE, NEAR, KSM, ZIL, AAVE, YFI and LSK. Conversely, REP, SNT, ZEN, ETC, ALGO and DASH are down by more than 5%.
To sum it up, the price of bitcoin is showing some positive signs and could gain momentum above USD 19,000. If BTC settles above USD 19,200, it could point to a new rise towards USD 19,500 or USD 19,800.
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