02 Dec 2020 · 2 min read

Bitcoin and Altcoins Show Signs of Fresh Increase

Bitcoin price recovered above the USD 18,800 resistance, and is showing positive signs. Ethereum is struggling to settle above USD 600, XRP is facing resistance near USD 0.625. SUSHI, EGLD, and RUNE are showing signs of upside continuation.

There was no bearish break below the USD 18,500 and USD 18,200 support levels. As a result, BTC started a fresh increase, and it 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 it could attempt a fresh increase towards USD 19,200 or higher.

Similarly, most major altcoins started a recovery wave, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD surpassed the USD 595 resistance and it even spiked above USD 600. XRP/USD remained well bid above the USD 0.600 level and it recovered above USD 0.620.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After forming a support base near USD 18,500, bitcoin price started a recovery wave. BTC climbed above the USD 18,800 and USD 19,000 resistance levels. It even broke USD 19,200, but struggled to continue higher. The price is consolidating above USD 18,800, below which it might find support near USD 18,500.
If there is a fresh increase, 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 may possibly call for a surge towards USD 19,500.

Ethereum price

Ethereum price remained well bid above the USD 575 and USD 580 levels. ETH climbed above the USD 595 resistance and it even made an attempt to settle above USD 600. However, the bulls seem to be facing a strong selling interest near USD 600 and USD 605.
On the downside, the price might remain stable above the USD 580 support. A close below USD 580 might lead the price towards the USD 550 support level.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price is rising steadily towards the USD 295 and USD 300 resistance levels. To start a strong increase, the price must settle above the USD 300 resistance. Conversely, dips towards the USD 280 level could find a solid buying interest. The next major support sits near the USD 272 level.
Litecoin (LTC) is up over 7% and it climbed sharply above the USD 86.50 resistance. LTC even broke the USD 88.50 level, but it struggled to surpass USD 90.00. The price is trading above USD 86.50 and it seems like the bulls might make another attempt to clear the USD 90.00 resistance in the near term.
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 minor decline. The price is again rising and it 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.

Other altcoins market today

In the past few hours, a few altcoins gained over 5%, including SUSHI, EGLD, RUNE, NEAR, KSM, ZIL, AAVE, YFI, and LSK. Conversely, REP, SNT, ZEN, ETC, ALGO, and DASH are down over 5%.

To sum up, bitcoin price is showing a few positive signs and it might gain momentum above USD 19,000. If BTC settles above USD 19,200, it could aim for a fresh increase towards USD 19,500 or USD 19,800.
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