Bitcoin Hits New ATH, Ethereum, Altcoins Strengthen, XRP Surges
Bitcoin price extended its rally and traded to a new all-time high above USD 37,500. Ethereum surpassed USD 1,200 and it is showing positive signs, XRP broke the USD 0.250 resistance and rallied over 30%. XLM, XEM, and ADA are up over 20%.
After a fresh bullish breakout above USD 35,000, bitcoin price started a fresh rally. BTC broke the USD 36,000 resistance and extended its rally above USD 37,000. It traded to a new all-time high close to USD 37,700 and it is currently (05:00 UTC) consolidating above USD 37,000.
Similarly, there was a strong upward move in most major altcoins, including ethereum, EOS, XRP, XLM, LINK, BNB, OMG, NEO, TRX, bitcoin cash, DOT, litecoin, and ADA. ETH/USD cleared the USD 1,150 hurdle and it even surpassed the USD 1,200 resistance. Also, XRP/USD started a strong recovery and it cleared the USD 0.250 and USD 0.280 resistance levels.
Total market capitalization
After a close above the USD 35,000 level, bitcoin price gained bullish momentum above the USD 35,500 and USD 36,000 resistance levels. BTC rallied over 10% and it even broke the USD 37,000 resistance. A new all-time high was formed near USD 37,700 and the price is currently consolidating above USD 37,000. A fresh increase may possibly lead the price towards the USD 38,000 and USD 38,250 levels.
On the downside, an initial support is near the USD 36,800 level. The first major support seems to be forming near USD 36,200.
Ethereum price followed a strong bullish wave and broke a couple of important hurdles near USD 1,150 and USD 1,180. ETH even cleared the USD 1,200 level and traded to a new multi-month high above USD 1,220. If there are more upsides, the bulls might test the USD 1,280 and USD 1,300 levels.
If there is a downside correction, the price could find bids near the USD 1,180 and USD 1,140 levels. The first support is now forming near the USD 1,100 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price broke the USD 432 resistance to start a fresh increase. BCH was able to clear the USD 440 and USD 450 levels. The price is now trading in a bullish zone above USD 450 and it could continue to rise towards the USD 465 and USD 470 levels. Conversely, a correction might find bids near the USD 432 and USD 430 levels.
Litecoin (LTC) is rising steadily above the USD 155 and USD 160 levels. LTC seems to be facing a strong resistance near USD 170 and USD 172. A close above the USD 172 level might accelerate gains. In the stated case, the price could easily drift towards the USD 185 and USD 190 levels.
XRP price started a strong recovery wave after a brief consolidation above the USD 0.212 support. The price rallied over 30% and it broke many hurdles near USD 0.250 and USD 0.280. It even spiked above USD 0.300 and it seems like the price might correct lower in the short-term.
Other altcoins market today
Many altcoins gained over 15%, including XLM, XEM, ADA, REN, QTUM, EOS, UMA, NEO, LINK, DCR, TRX, and BTG. Out of these, XLM retained gains and it is trading above the USD 0.35 level.
Overall, bitcoin price is extending its rally above USD 37,000. If BTC remains stable above USD 36,800 and USD 36,000, there are chances of a move above USD 38,000.