Bitcoin Holds Strong At USD 19,000, Altcoins Fluctuate
After a minor decline, bitcoin price remained stable above the USD 19,000 level. BTC is slowly rising and it is currently (13:00 UTC) trading above the USD 19,200 level. The bulls need to gain strength above USD 19,400 and USD 19,500 to start a strong increase.
Besides, most major altcoins are trading above key supports, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD stayed above USD 575 and climbed above USD 585. Conversely, XRP/USD is extending its decline below the USD 0.488 and USD 0.485 support levels.
Total market capitalization
In the past two sessions, bitcoin price mostly traded in a range above the USD 19,000 support. BTC remained well bid above USD 19,000 and it recently recovered above USD 19,200. An immediate resistance is near the USD 19,380 level. The main hurdle is still near the USD 19,450 and USD 19,500 levels.
If there is a fresh decline, the USD 19,050 and USD 19,000 levels are decent supports. A clear break below the USD 19,000 level could initiate a dip towards the USD 18,500 support level.
Ethereum price is trading with a positive bias above the USD 575 and USD 580 support levels. ETH broke the USD 585 level, but it is still facing a strong resistance near the USD 595 and USD 600 levels. A successful close above USD 600 is needed for a sustained upward move.
If the bulls fail to clear USD 595, the price could dip below USD 580. The first key support is near the USD 575 level, below which the price could test the USD 565 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price outperformed bitcoin and ether, with a strong upward move above the USD 275 and USD 280 resistance levels. BCH is up over 7% and it even traded close to the USD 290 level. The main resistance sits at USD 295 and USD 300, above which the bulls might test the USD 320 level.
Litecoin (LTC) is consolidating above the USD 80.00 level. LTC climbed above USD 81.20, opening the doors for a push towards the USD 83.50 and USD 84.00 levels. If there is a clear break above USD 84.00, the price might rise towards the USD 86.50 level. Conversely, a break below USD 80.00 may possibly increase selling pressure in the short-term.
XRP price is down 3% and it extended its decline below the USD 0.485 support level. There is a major support lined up at USD 0.475, below which the price could dive towards the USD 0.450 support. Any more losses could lead XRP towards USD 0.425. On the upside, the USD 0.500 level is a major resistance.
Other altcoins market today
In the past few hours, a few altcoins gained traction, including ZIL, ALGO, DOT, ANT, UNI, BAND, and RUNE. Out of these, ZIL is up 7% and it is trading above the USD 0.034 resistance.
To sum up, bitcoin price is stable above the USD 19,000 level. Having said that, BTC must clear the USD 19,450 and USD 19,500 resistance levels to start a strong increase in the coming sessions.
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