Bitcoin gained friction and prevailed well supported over USD 18,000. BTC soared towards USD 18,800 before compounding gains. The price is currently (05:00 UTC) trading well above USD 18,000, but it must gain momentum over USD 18,500 for a new rally, probably towards USD 19,200.
There were influential bullish movements in most significant altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD rose beyond USD 550 and USD 565 resistance levels. XRP/USD rallied over 35% in the past two days, and it even broke the USD 0.450 resistance level.
Total market capitalization
Lately, the bitcoin price was adjusted below the USD 18,800 resistance zone. Nevertheless, BTC continued well supported near the USD 18,000 level. The next significant weekly support seems to be forming near the USD 17,500 level. Any further losses could spark a medium-term downside correction. On the upside, the price is facing a few major hurdles, starting with USD 18,650. The first significant resistance is near USD 18,750, followed by USD 18,800. A clear break above the USD 18,800 weekly resistance may open the doors for a push towards USD 19,200 or even USD 19,500.
Ethereum breached the USD 500 barrier and started a strong surge. ETH broke the USD 550 and USD 565 resistance levels to move further into an uptrend. It tested the USD 585 level, and it is currently consolidating gains. On the downside, the USD 575 and USD 565 levels are decent support. Any further losses may lead the price back towards the critical USD 550 support zone. On the upside, the price might rally above USD 600.
Bitcoin Cash, Litecoin, and XRP Price
Bitcoin cash soared higher firmly, and it breached the USD 275 and USD 285 resistance levels. BCH is trading above USD 290, and it seems like the bulls are aiming for an upside break above the USD 298 and USD 300 levels in the near term. If there is a downside correction, the price might find support near USD 285. Litecoin (LTC) settled above the USD 80.00 level, and it is slowly gaining pace. LTC is trading above the USD 85.00 level, with an immediate resistance at USD 88.00. A clear break above the USD 88.00 and USD 90.00 levels could open the doors for a test of the all-important USD 100.00 barrier.XRP price outperformed Ethereum and bitcoin in the past two days, as it rallied over 35%. The price broke the USD 0.350 and USD 0.400 resistance levels. It even broke the USD 0.450 level, and it seems like the current wave is far from over. The next significant resistance sits near the USD 0.500 level.
Other altcoins market today
A few altcoins gained over 8% in the past few hours, including WAVES, NMR, ADA, YFI, BAL, REN, VET, CEL, CELO, and MIOTA. Out of these, WAVES surged over 30%, and it broke the USD 7.80 level.
Overall, the bitcoin price is showing positive signs above the USD 18,000 support level. If BTC continues to find support, there are chances to break above the USD 18,800 and USD 19,000 levels.