Bitcoin and Altcoins Target Additional Gains
- Bitcoin price extended its rise above USD 18,800.
- Ethereum is climbing towards USD 600, XRP is showing positive signs above USD 0.620.
- AAVE is gaining momentum and it could test USD 80.00.
Bitcoin price remained in a positive zone and it settled above the USD 18,500 level. BTC broke the USD 18,650 and USD 18,800 resistance levels. The price is currently (05:00 UTC) up 4% and it seems like the bulls are aiming more upsides above USD 19,000 and USD 19,200.
Similarly, most major altcoins gained bullish momentum, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD surpassed USD 590 and it might clear the USD 600 resistance level. XRP/USD is trading with a bullish bias, but it must surpass USD 0.655 to gain strength.
Total market capitalization
Bitcoin price jumped above the USD 18,500 resistance levels. BTC even broke the USD 18,650 and USD 18,800 resistance levels. The current price action is such that bitcoin looks like it could clear the USD 19,000 level. The next resistance is near USD 19,200, above which the price could revisit the main USD 19,500 resistance.
If there is a downside correction, an initial support is near the USD 18,650 level. The first major support is near the USD 18,500 level (the recent breakout zone).
Ethereum price is also following a bullish path and it settled above the USD 580 resistance. ETH is trading above USD 590 and it might clear the USD 600 resistance. The next resistance sits at USD 612, above which the price might retest the USD 623 high formed earlier this month.
On the downside, an initial support is near the USD 585 level. The main support for the next 2-3 sessions could be USD 580.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price broke the USD 290 resistance, but it struggled to gain momentum above the USD 295 level. BCH topped below USD 300 and it is slowly moving lower. On the downside, the USD 285 level is a decent support, followed by the USD 278 level. On the upside, the USD 295 and USD 300 levels are important hurdles for the bulls.
Litecoin (LTC) is up 6% and it surpassed the USD 80.00 resistance level. An immediate resistance is at USD 80.80, above which the price might rise steadily towards USD 83.50 or USD 84.20. On the downside, the USD 78.50 level is a short-term support. The next key support is near the USD 76.20 level.
XRP price settled above the USD 0.600 level and it even surpassed the USD 0.620 resistance. However, the price is facing a major resistance near USD 0.635 and USD 0.655. A proper close above USD 0.655 is a must for more upsides in the near term. If not, the price could decline towards the USD 0.580 level.
Other altcoins market today
In the past few hours, many altcoins gained over 5%, including AAVE, SNX, AMPL, YFI, UNI, SUSHI, NEXO, FTT, DCR, ABBC, DOT, KSM, NXM, LUNA, BAL, DASH, and WAVES. Out of these, AAVE and SNX are up over 12% and signaling more gains.
To sum up, bitcoin price is gaining pace above USD 18,500 and USD 18,650. If BTC steadies above USD 18,800, there are high chances of a break above the USD 19,000 and USD 19,200 levels.