Altcoins, Bitcoin, Cryptocurrency

Altcoins Jumping While Bitcoin Bears Hinting to Appear Anytime

Bitcoin hanging tight in a range under the USD 18,800 resistance levels. BTC is maintaining the USD 18,200 and USD 18,000 support levels, but some bearish signs are appearing. Bitcoin is currently (05:00 UTC) trading under USD 18,500 and it might shortly try another upside breach in the near term.

There was a strong increase in most major altcoins in the past couple of sessions. This includes Ethereum, XRP, Litecoin, EOS, XLM, LINK, BNB, TRX, Bitcoin Cash, and ADA. ETH/USD soared 7% and it is now trading well beyond the USD 600 level. XRP/USD is still climbing and it was able to rise above USD 0.650 and USD 0.675.

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Bitcoin Price

Bitcoin had more than two rejections near the USD 18,800 resistance zone. BTC adjusted below, but the bulls were able to protect the USD 18,200 and USD 18,000 support levels. The price is gaining higher and trading above USD 18,350. The first key resistance is near the USD 18,500 level, above which the price could retest the USD 18,800 resistance. Any more upsides might clear the path for a strong rally towards USD 19,500.

Ethereum Price

Ethereum climbed higher steadily above the USD 600 resistance. ETH even cleared the USD 612 resistance and it is now trading near the USD 620 level. Immediate resistance is near the USD 625 level, above which the bulls might aim for a test of USD 640 or even USD 648. If there is a downside correction, the USD 605 and USD 600 levels might provide support. The next major support might be forming near the USD 585 level.

Bitcoin Cash, Litecoin, and XRP Price

Bitcoin cash price gained over 15% and it surged above the USD 300 and USD 325 resistance levels. BCH is trading close to USD 350 and it might correct a few points. Initial support is near the USD 325 level, below which the price could test the USD 310 level. Conversely, the price could rise further above USD 350 and USD 365. Litecoin (LTC) is now trading above the USD 88.50 and USD 90.00 resistance levels. If the current price action stays intact, there are chances of a steady rise towards the USD 98.00 and USD 100.00 resistance levels. On the downside, the USD 88.50 and USD 86.50 levels might provide support. XRP price remained elevated and it rallied over 50%. There was a clear break above the USD 0.650 and USD 0.675 resistance levels. If the price breaks the USD 0.700 level, the next stop for the bulls could be USD 0.715. On the downside, there are many supports forming, starting with USD 0.675 and USD 0.662.

Other Altcoins Market Today

In the past few hours, many altcoins gained over 15%, including XLM, ZEN, NANO, BTG, SNT, XEM, OXT, MONA, QTUM, TRX, ALGO, RVN, NEO, ETC, ICX, BAT, ZRX, and ZEC. Out of these, XLM performed well and it could soon hit the USD 0.200 resistance.

Overall, bitcoin price is trading in a broad range below the USD 18,800 resistance levels. On the other hand, major altcoins are gaining pace and it seems like ETH, XRP, LTC, BCH, and XLM might continue to outperform in the near term.

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