Bitcoin Eyes Fresh ATH, Altcoins Hold Gains, XRP Rallies
Bitcoin price is back above USD 19,000 and it is eyeing an upside break above USD 19,500. Ethereum might reclaim USD 600, XRP rallied 12% and climbed towards USD 0.692. ZIL and XLM surged over 40%.
Bitcoin price remained stable above the main USD 18,800 support level. As a result, BTC started a fresh increase and climbed above USD 19,000. The price is currently (13:00 UTC) trading near the USD 19,200 level and it seems like the bulls are eyeing a fresh high above USD 19,500, moving closer to a new all-time high (ATH).
There was also a recovery in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD recovered from the USD 580 support and it could soon climb above USD 600. XRP/USD is up over 12% and it might clear the USD 0.700 resistance.
Total market capitalization
After testing the USD 18,800 support, bitcoin price started a steady increase. BTC broke the USD 19,000 and USD 19,200 levels. The next key resistance is near the USD 19,450 and USD 19,500 levels, above which the bulls might aim for a new all-time high in the coming sessions.
If there is a fresh decline, the USD 19,000 level is an immediate support. The key support is forming near the USD 18,800 level, below which there is a risk of a sharp decline.
Ethereum price found a strong support near the USD 580 level and it recently recovered above USD 590. ETH is approaching the USD 600 level. A close above the USD 600 level could spark a fresh increase towards the USD 615 and USD 620 levels.
Conversely, the price could decline again below USD 590. The main support is forming near the USD 580 level. A clear break below USD 580 might stage a drop towards USD 560.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price remained stable above the USD 330 level and it climbed above the USD 340 level. It seems like BCH might soon revisit the USD 350 resistance. Any further gains could lead the price towards the USD 370 and USD 375 levels in the near term. On the downside, the USD 335 and USD 330 levels are important supports.
Litecoin (LTC) is recovering and trading above the USD 86.50 level. An initial resistance sits at USD 88.50, above which there are high chances of a break above the USD 90.00 level. A failure to settle above the USD 90.00 level may perhaps start a steady decline towards the USD 85.00 level.
XRP price is again surging and it broke the USD 0.650 resistance. The price is up over 12% and it cleared the USD 0.680 level. The main hurdle is near the USD 0.700 level. A successful break above the USD 0.700 resistance could set the pace for a push towards the USD 0.720 and USD 0.725 levels.
Other altcoins market today
In the past few hours, many altcoins gained over 12%, including ZIL, XLM, XVG, XEM, DGB, SNT, NANO, SC, GNT, ZRX, LRC, ICX, and ZEN. Out of these, ZIL climbed over 40% and it even broke the USD 0.0325 resistance level.
To sum up, bitcoin price is showing positive signs above the USD 19,000 level. It seems like BTC is setting up for a rally above USD 19,500 and USD 19,600 in the next few sessions.