There was a gentle rise in bitcoin price above the USD 19,500 resistance. BTC even traded above USD 19,800, nevertheless it did not surpass the USD 20,000 resistance. In consequence, there was a pointy bearish response and the price is at present (13:00 UTC) down over USD 1,200 from at present’s excessive.
Equally, there was a pointy decline in most main altcoins, together with ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD traded to a brand new yearly excessive at USD 635 earlier than dropping by greater than USD 50. XRP/USD is down 5% and it would proceed decrease beneath USD 0.600.
Whole market capitalization
Earlier at present, bitcoin price surpassed the USD 19,500 resistance. BTC even broke the USD 19,800 resistance and traded to a brand new yearly excessive. Nevertheless, the bulls did not clear the USD 20,000 resistance. There have been a few spikes, however later the price declined sharply beneath USD 19,500 and USD 19,000.
The price is now buying and selling effectively beneath USD 19,000 and approaching the USD 18,250 assist. The following main assist is close to the USD 18,000 stage, beneath which the price may take a look at the USD 17,800 stage.
Ethereum price gained momentum above the USD 625 and USD 630 ranges. ETH traded to a brand new yearly excessive at USD 635 earlier than it declined over USD 50. The price broke the USD 600 assist and exhibiting just a few bearish indicators.
The following main assist is close to USD 570, beneath which the price may even take a look at USD 550. On the upside, the USD 595 and USD 600 ranges may act as hurdles as soon as once more.
Bitcoin cash price adopted an analogous sample and it began a pointy drop from effectively above USD 315. BCH is down 2% and it’s buying and selling beneath the USD 290 stage. An preliminary assist is close to the USD 280 stage. The principle assist is now ready at USD 270. On the upside, the bulls may face resistance close to USD 295 and USD 300.
Litecoin (LTC) spiked above the USD 90 stage earlier at present earlier than there was a pointy bearish wave. The price broke the USD 85.00 assist and examined the USD 80.00 stage. If there are extra downsides, the price may take a look at the USD 76.50 assist stage. Conversely, the price may begin a gentle improve in the direction of the USD 84.00 and USD 85.00 ranges.
XRP price climbed above the USD 0.655 resistance, however there was no break above USD 0.700. There was a drop of over USD 0.50 and the price even broke the USD 0.620 assist. The price is now buying and selling close to the USD 0.600 assist, with a bearish angle. Extra losses may lead the price in the direction of USD 0.588.
Different altcoins market at present
Previously few hours, many altcoins declined over 5%, together with HEDG, NMR, DASH, ADA, XLM, WAVES, DGB, MIOTA, EWT, UMA, (BA)ND, OMG, and UNI. Conversely, SUSHI remained in a optimistic zone and it’s nonetheless up over 10%.
To sum up, bitcoin price reacted sharply after it did not clear the USD 20,000 resistance. BTC is now buying and selling effectively beneath USD 19,000, however dips are nonetheless engaging to the bulls within the coming classes.
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