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There has been a break to the upside in the bitcoin price above the USD 19,000 and USD 19,200 levels. BTC even rose above USD 19,400 but struggled to break out of the USD 19,500 resistance. The price is currently (13:00 UTC) trading above USD 19,200 and the bulls are pushing for a new test of USD 19,500 in the near term.
Additionally, there has been a short-term bullish move in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH / USD rose more than 3% and broke the USD 600 and USD 605 resistance levels. XRP / USD is trading above USD 0.620 but still faces strong resistance near USD 0.635.
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Bitcoin price
There was an adequate closing bitcoin price above USD 19,000. BTC extended its hike above the USD 19,200 and USD 19,300 levels. However, the bulls failed to break out of the USD 19,500 barrier. The price is showing positive signals above the USD 19,200 level, with the next key support at USD 19,000.
On the upside, the USD 19,380 and USD 19,500 levels are the key to further gains. A close above USD 19,500 could trigger a rise towards the main barrier of USD 20,000.
Ethereum price
Ethereum price gained strength after breaking the USD 600 resistance. ETH even broke the USD 605 resistance and traded towards the USD 615 and USD 620 levels. The price must break above the USD 620 level for further gains towards the USD 635 swing in the near term.
On the downside, an initial support is near the USD 605 level. The key support is now forming near the USD 600 level (the recent resistance at the breakout).
Bitcoin cash, litecoin and XRP price
The bitcoin cash price failed to follow bitcoin and ETH and remained well below the USD 298 and USD 300 resistance levels. BCH holds the USD 290 support, below which there is a risk of a major decline towards the USD 280 and USD 275 levels. On the upside, a close above USD 300 could trigger a strong rally.
Litecoin (LTC) is stable above the USD 85.00 and USD 86.50 support levels. The price is trading near the USD 88.50 pivot level and is facing strong selling interest near the USD 90.00 level. A successful close above the USD 90.00 level is a must for a sustained rise towards the USD 100.00 hurdle.
The XRP price remained below the USD 0.635 resistance. The price appears to be forming a solid support base above the USD 0.605 and USD 0.600 levels. As long as the price is above USD 0.600, there is a chance of a rally towards the USD 0.655 and USD 0.662 levels in the coming sessions.
More altcoin markets today
In the past few hours, some altcoins have gained over 5%, including XEM, ALGO, HBAR, ZIL, AMPL, ABBC, NEXO, UMA and BTG. Of these, XEM rallied above the USD 0.200 and USD 0.210 resistance levels.
To sum it up, the price of bitcoin gained pace above the USD 19,000 and USD 19,200 levels. It looks like BTC bulls might make another attempt to break out of the USD 19,500 resistance level in the short term.
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