24 Nov 2020 · 2 min read

Ethereum, Altcoins Correct Gains As Bitcoin Inches To All-Time High

Bitcoin price broke the USD 18,800 resistance and climbed to a new 2020 high. Ethereum is consolidating above USD 585, XRP rallied above USD 0.750 before correcting to USD 0.600. XLM gained 37%, TRX up by 11%.

Bitcoin price remained well supported and it managed to clear the 18,800 resistance level. BTC even surpassed USD 19,000 and traded to a new 2020 high. The price is currently (13:00 UTC) consolidating near USD 19,000 and it seems to be preparing for more gains.
Most major altcoins rallied significantly before correcting lower, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD settled above USD 600, but the price is struggling to gain pace above USD 620. XRP/USD surged above USD 0.700 and USD 0.750 before it crashed below USD 0.650.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

Finally, bitcoin price surpassed the USD 18,700 and USD 18,800 resistance levels. BTC even broke the USD 19,000 level and it seems like the bulls are aiming more upsides above the USD 19,200 level. The next key resistance sits near the USD 19,500 level.
If there is a downside correction, the previous resistance near USD 18,800 could act as a strong support. The next major support seems to be forming near the USD 18,500 level.

Ethereum price

Ethereum price topped near the USD 620 level and corrected lower. ETH is now consolidating near the USD 595 level and it might start a downside correction. However, the bulls might remain active near the USD 585 and USD 580 levels.
On the upside, an initial resistance is near the USD 612 level. The main resistance is near the USD 620 level, above which the price might accelerate higher towards USD 635.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price surged above the USD 350 resistance level. BCH traded as high as 370 before correcting lower below USD 350. The price even broke the USD 340 level and it tested the USD 330 level. The next major support is near the USD 320 and USD 315 levels. On the upside, the price might face hurdles near USD 350.
Litecoin (LTC) failed to hold gains above the USD 90.00 level and corrected lower. LTC is now trading below the USD 88.00 level and it might continue to move down. The next key support for the bulls is near the USD 86.50 level. To start a fresh increase, the price must settle above USD 90.50 and USD 91.20.
XRP price surged over 50% earlier today and it broke many hurdles near USD 0.600. The price even broke the USD 0.700 level and traded close to the USD 0.780 zone. Recently, there was a sharp pullback and the price declined below the USD 0.700 level. The price even tested the USD 0.600 level and it is currently consolidating in a range.

Other altcoins market today

In the past few hours, a few altcoins gained over 20%, including XLM, XVG, BTG, OXT, and DASH. Conversely, SUSHI, NMR, OKB, and QNT are down over 8%.

To sum up, bitcoin price is showing positive signs above the USD 19,000 level. If BTC gains pace above USD 19,200, there are chances of more upsides above the USD 19,400 and USD 19,500 levels.
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