Bitcoin Stuck In Range, Ethereum and XRP Show Positive Signs
In the past two days, bitcoin price struggled to gain momentum above the USD 15,500 and USD 15,600 resistance levels. At the same time, BTC remained well bid above the USD 15,000 and USD 15,200 support levels. The price seems to be stuck in a range and it is currently (05:00 UTC) trading near the USD 15,350 pivot zone.
Meanwhile, most major altcoins are showing positive signs, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD climbed above the USD 455 resistance and it might settle above the USD 460 resistance. XRP/USD spiked above USD 0.255 and it is showing positive signs above the USD 0.252 support zone.
Total market capitalization
After another failed attempt near the USD 15,500, level bitcoin price declined lower. BTC traded below the USD 15,350 level, but it remained well bid above the USD 15,000 support zone. The price is trading above the USD 15,200 level, with an immediate resistance at USD 15,450. The first key resistance is near USD 15,500, followed by USD 15,600.
A successful break above the USD 15,600 resistance is a must for upside continuation. If it continues to struggle near USD 15,500 and USD 15,600, there are chances of a strong decline.
Ethereum price started a steady rise after it settled above the USD 450 resistance. ETH is up over 2% and it is now trading well above USD 455. A successful close above the USD 460 resistance level may perhaps increase the chances of a break above the USD 468 and USD 470 resistance levels.
If there is a downside correction, the USD 455 level might provide support. The main support is now forming near the USD 450 level.
Bitcoin cash, chainlink and XRP price
Bitcoin cash price is down 3% and it is now trading below the USD 260 support level. BCH is holding the USD 255 support. If there are more losses, the next stop for the bears could be USD 250. On the upside, the USD 260 level is a short-term resistance. The main resistance is now near USD 265.
Chainlink (LINK) climbed steadily and it settled above the USD 12.80 and USD 13.00 resistance levels. The price is now trading above the USD 13.10 level and facing a minor hurdle near USD 13.35. The next major resistance for the bulls is near USD 13.50, above which they could target a test of USD 14.00.
XRP price managed to clear the USD 0.255 resistance, but it failed to gain strength. It is currently consolidating just below USD 0.255, with a strong support near USD 0.252. The next major support for the bulls is seen near the USD 0.250 level. On the upside, the price must gain strength above USD 0.255 and USD 0.258 for a strong increase.
Other altcoins market today
In the past few hours, many altcoins gained over 10%, including LRC, UMA, SUSHI, CELO, RSR, YFI, CHSB, KNC, STX, UNI, COMP, and AMPL. Out of these, LRC is up around 20% and it traded close to USD 0.20.
Overall, bitcoin price is stuck in a range below the USD 15,500 and USD 15,600 resistance levels. BTC seems to be preparing for the next move. It could either rally sharply above USD 15,600 or dive below USD 15,000.
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