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Bitcoin price gained ground and remained well supported above USD 18,000. BTC scaled to USD 18,800 before earnings consolidation. The price is currently (05:00 UTC) trading well above USD 18,000 but needs to gain momentum above USD 18,500 for a new rally, possibly towards USD 19,200.
Additionally, there have been strong bullish moves in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH / USD rose above the USD 550 and USD 565 resistance levels. XRP / USD has risen more than 35% in the past two days and even broke the USD 0.450 resistance level.
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Bitcoin price
Recently, the corrected bitcoin price lower from the USD 18,800 resistance zone. However, BTC remained well supported near the USD 18,000 level. The next major weekly support appears to be forming near the USD 17,500 level. Any further losses could trigger a downward correction in the medium term.
On the upside, the price is facing some major hurdles, starting at USD 18,650. The first major resistance is near USD 18,750, followed by USD 18,800. A clear break above the weekly resistance of USD 18,800 could open the door to a push towards USD 19,200 or even USD 19,500.
Ethereum price
The price of Ethereum broke the USD 500 barrier and started a sharp rise. ETH broke the USD 550 and USD 565 resistance levels to move further into an uptrend. It tested the USD 585 level and is currently consolidating gains.
On the downside, the USD 575 and USD 565 levels represent decent support. Further losses may eventually drive price back towards the USD 550 key support zone. On the upside, the price could rise above USD 600.
Bitcoin cash, litecoin and XRP price
The cash price of bitcoin rose steadily and broke the USD 275 and USD 285 resistance levels. BCH is trading above USD 290 and it looks like the bulls are pointing to a break to the upside above the USD 298 and USD 300 levels in the near term. In the event of a downward correction, the price could find support near USD 285.
Litecoin (LTC) has traded above the USD 80.00 level and is slowly gaining pace. LTC is trading above the USD 85.00 level, with an immediate resistance at USD 88.00. A clear break above the USD 88.00 and USD 90.00 levels could open the door for a test of the important USD 100.00 barrier.
The price of XRP has outperformed Ethereum and bitcoin over the past two days, up by more than 35%. The price broke the USD 0.350 and USD 0.400 resistance levels. It even broke the USD 0.450 level and it looks like the current wave is far from over. The next big resistance is near the USD 0.500 level.
More altcoin markets today
In the past few hours, some altcoins have gained over 8%, including WAVES, NMR, ADA, YFI, BAL, REN, VET, CEL, CELO and MIOTA. Of these, WAVES rose more than 30% and broke the USD 7.80 level.
Overall, the bitcoin price is showing positive signals above the USD 18,000 support level. If BTC continues to find support, there is a chance of a break above the USD 18,800 and USD 19,000 levels.
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