After forming a support base above USD 19,000, bitcoin price started a fresh increase. BTC broke the USD 19,500 resistance and it even spiked above USD 19,800. The price traded to a new yearly high above USD 19,880 and it is currently (13:00 UTC) eyeing a break above USD 20,000.
Similarly, there were a few positive moves in most major altcoins, including ethereum, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is slowly rising steadily towards the USD 595 and USD 600 resistance levels. XRP/USD is also recovering losses, but it might face hurdles near USD 0.465 and USD 0.475.
Total market capitalization
There was a strong upward move in bitcoin price above the USD 19,500 resistance. BTC even broke the USD 19,650 and USD 19,800 resistance levels. The price is showing positive signs and it could soon attempt a crucial upside break above the USD 20,000 level. If the bulls succeed, there are chances of a strong increase of 5%-8% in the coming sessions.
On the downside, the USD 19,650 and USD 19,500 levels could act as key supports if there is a downside correction in the short-term.
Ethereum price is also showing a few positive signs and trading in a bullish zone above USD 585. ETH is approaching the USD 595 and USD 600 resistance levels. A successful break and close above the USD 600 level could set the pace for a fresh increase towards USD 620 and USD 622.
On the downside, the price might remain well bid near the USD 580 and USD 575 levels. A clear break below USD 575 might call for a push towards the USD 565 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is gaining traction and it broke the USD 288 and USD 290 resistance levels. It seems like BCH could soon attempt an upside break above the USD 298 and USD 300 resistance levels. If there is a downside correction, the USD 280 and USD 278 levels might provide support.
Litecoin (LTC) is showing positive signs and it is trading above the USD 81.20 resistance. The next key resistance for LTC is near the USD 84.00 and USD 85.00 levels. A close above USD 85.00 could lead the price towards the USD 88.50 resistance. On the downside, the USD 80.00 level is a major support.
XRP price started a recovery wave after a sharp decline of 10% to USD 0.435. The price is trading above USD 0.450 and it could test the USD 0.465 resistance level. The next key resistance is near the USD 0.475 level, above which the price could revisit the USD 0.500 pivot level.
Other altcoins market today
In the past few hours, a few altcoins are rising steadily, including MAID, RUNE, QTUM, BAT, ATOM, DASH, and RSR. Conversely, YFI, MKR, ZRX, and AMPL are trading in the red zone.
To sum up, bitcoin price is gaining bullish momentum above USD 19,500 and USD 19,650. It seems like there are high chances of a clear break above USD 20,000. If BTC succeeds, there could be a rally towards USD 20,650 or USD 21,200.