Bitcoin Moves Higher Above USD 18K, Altcoins Up Too
- Bitcoin price is back above USD 18,000 and might continue higher.
- Ethereum might test USD 500, XRP rallied to reclaim USD 0.300.
- SUSHI extended its rally by 20%, and WAVES gained 15%.
Bitcoin price remained well supported near the USD 17,500 level. BTC started a fresh increase and it was able to climb back above USD 18,000 and USD 18,100. The price is currently (05:00 UTC) trading near USD 18,200 and it seems like the bulls are aiming for a break above the USD 18,500 resistance.
Similarly, there was an increase in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD climbed above USD 480 and USD 485 resistance levels. XRP/USD is up 4% and it is now trading above USD 0.300.
Total market capitalization
There was a fresh increase in bitcoin price from the USD 17,500 support level. BTC gained 2% and it settled above the USD 18,000 level. The price is now attempting a close above the USD 18,200 resistance. If it succeeds, there are high chances of more upsides above the USD 18,400 and USD 18,500 levels.
On the downside, the USD 18,000 level is an initial support. The first major support is now near USD 17,750, below which the price could revisit the USD 17,500 support.
Ethereum price is up 2% and it broke the USD 480 and USD 485 resistance levels. An immediate hurdle is at USD 488, above which the price might revisit the USD 495 high. The next major resistance for the bulls is near USD 500, followed by USD 508.
If there is a downside correction, the USD 480 level might provide support. Any further losses may possibly lead the price back towards the key USD 465 support zone.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is gaining traction above the USD 250 resistance. BCH is up 4% and it even surpassed the USD 255 level. It seems like the price could even surpass USD 260. The main barrier is now near USD 265. A clear break above the USD 265 level might set the pace for a move towards the USD 280 level.
Litecoin (LTC) is performing well and it is up over 11%. LTC cleared the USD 78.00 resistance and it settled above USD 80.00. The price is testing the USD 82.50 resistance. A clear break above USD 82.50 and USD 83.20 might even lead the price above the USD 85.00 level.
XRP price formed a strong support near the USD 0.290 level and started a fresh increase. The price broke the USD 0.298 and USD 0.300 resistance levels to move back into a positive zone. An immediate resistance is near USD 0.305. A successful close above USD 0.305 could open the doors for a push towards the USD 0.312 and USD 0.320 resistance levels.
Other altcoins market today
In the past few hours, many altcoins rallied over 10%, including SUSHI, WAVES, RSR, UNI, YFI, DOT, HT, LTC, SNX, and TMTG. Conversely, HEDG, XEM, and STX are down over 8%.
Overall, bitcoin price is trading above the USD 18,000 support level. If BTC settled above USD 18,200, it could continue to rise towards USD 18,500 or even USD 18,800. If not, it could retreat towards the USD 17,750 level in the near term.