Bitcoin and Altcoins Consolidate, Litecoin Rallies 10%
- Bitcoin price is facing hurdles near USD 17,850 and USD 18,000.
- Ethereum is stuck below USD 480 and USD 485, XRP might struggle to climb above USD 0.298.
- LTC tested USD 80.00.
- SUSHI, OKB, and YFI are up more than 10%.
Bitcoin price settled below the USD 18,000 resistance level. BTC extended its decline below the USD 17,500 support, but the bulls remained active above USD 17,350. The price is currently (12:45 UTC) trading well above USD 17,500, but it is facing hurdles near USD 17,850 and USD 18,000.
Similarly, there were range moves in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is now trading below the USD 480 and USD 485 resistance levels. XRP/USD is somehow holding the USD 0.290 support, but it could face resistance near USD 0.298 and USD 0.300.
Total market capitalization
After a close below the USD 18,000 level, bitcoin price extended its decline below the USD 17,600 and USD 17,500 levels. BTC found support near USD 17,350 and it recovered above USD 17,500. An immediate resistance is near the USD 17,850 level. The main resistance for a fresh increase is now forming near the USD 18,000 level.
On the downside, the USD 17,500 level is an initial support. The next major support sits at USD 17,350, below which the bears might aim for a test of the USD 17,000 level.
Ethereum price settled well below USD 480 and it even broke the USD 475 support. ETH found support near the USD 465 level and it is back above USD 470. However, the price is facing a lot of hurdles, starting with USD 480.
If the price remains below USD 480, it could decline again below USD 470. The next support is near the USD 465 level. Any further losses increase the risk of a break towards the USD 455 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is attempting a fresh recovery wave above the USD 245 level. If BCH settles above the USD 250 level, the price could rise steadily towards USD 255 or even USD 260. The next major resistance for the bulls is near the USD 265 level. On the downside, the USD 242 and USD 240 levels are important supports.
Litecoin (LTC) is up more than 10% and it broke the USD 76.50 and USD 78.00 resistance levels. LTC even tested the USD 80.00 level and it seems like there are chances of more upsides. The next major resistance for the bulls awaits near USD 82.00. If there is a downside correction, the price might find support near USD 78.00.
XRP price found support near USD 0.290 and it avoided a major decline. The price is slowly rising and it is approaching the USD 0.295 resistance. The first major resistance is near USD 298, above which the bulls might aim for a break above the USD 0.300 resistance.
Other altcoins market today
In the past few hours, a few altcoins gained over 5%, including SUSHI, OKB, YFI, HT, WAVES, CVT, RSR, and DX. Out of these, SUSHI rallied 20% and it broke the USD 1.40 resistance.
To sum up, bitcoin price is finding it hard to surpass the USD 17,850 and USD 18,000 resistance levels. As long as BTC is below USD 18,000, there is a risk of a drop towards the USD 17,000 level.