Bitcoin and Altcoins Regain Strength and Bullish Momentum
- Bitcoin price started a steady increase above USD 18,000 and USD 18,250.
- Ethereum gained 8% and surpassed USD 580, XRP is trading above USD 0.600.
- AAVE, SNX, and KSM are up over 10%.
Bitcoin price gained bullish momentum after it broke the USD 17,800 and USD 18,000 resistance levels. BTC even climbed above the USD 18,250 and USD 18,500 levels. The price is currently (05:00 UTC) consolidating gains, with key hurdles near USD 18,680 and USD 18,800.
Similarly, there was a steady rise in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD performed well and it surpassed the USD 565 and USD 580 resistance levels. XRP/USD is also showing positive signs above the USD 0.600 and USD 0.612 levels.
Total market capitalization
After forming a support base, bitcoin price started a fresh increase above the USD 17,800 and USD 18,000 resistance levels. BTC even gained pace and surpassed the USD 18,500 resistance. An immediate resistance is near the USD 18,680 level, above which the bulls might attempt a crucial upside break above the USD 18,800 resistance level. The main weekly resistance sits at USD 19,500.
An initial support on the downside is near the USD 18,250 level. The first major support is near the USD 18,000 level, but the main weekly support is now forming near the USD 17,450 level.
Ethereum price remained stable above USD 500 and USD 520. As a result, ETH started a fresh increase above the USD 550 and USD 565 resistance levels. The price even cleared the USD 580 level and it could soon make an attempt to surpass USD 600. The main weekly resistance is near USD 620.
If there is a downside correction, the USD 565 level might provide support. The next major support for ether is seen near the USD 550 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is up 6% and it is now trading above the USD 280 resistance. BCH is trading just above USD 290, with a key hurdle near the USD 300 level. A successful break above the USD 300 level could lead the price towards the USD 330 level. On the downside, the USD 280 and USD 265 levels are important supports.
Litecoin (LTC) is gaining bullish momentum and it is trading well above USD 75.00. The price is up 8% and it is approaching the USD 80.00 resistance levels. To continue higher, the price must clear the USD 80.00 and USD 80.80 levels. The next key resistance is near the USD 85.50 level.
XRP price broke the USD 0.598 and USD 0.600 resistance levels to move back into a positive zone. The price is now trading above USD 0.620 and facing hurdles near USD 0.635. The first key resistance is near the USD 0.655 level, above which the bulls might aim a test of the USD 0.700 level. The main weekly support is now forming near the USD 0.550 level.
Other altcoins market today
Some altcoins gained over 10%, including AAVE, SNX, KSM, AMPL, SUSHI, YFI, and DCR. Out of these, AAVE rallied almost 20% and it broke the USD 75.00 resistance.
Overall, bitcoin price is back in a positive zone above USD 18,000 and USD 18,250. To continue higher, it must gain strength above USD 18,800. If not, there is a risk of a fresh decline to USD 17,450 in the near term.