In the past three sessions, bitcoin price traded in a tiny range below the USD 19,350 and USD 19,500 resistance levels. BTC also remained well supported near USD 18,800 and USD 19,000. The price is currently (05:00 UTC) showing no signs of a bullish break and it could retest the USD 19,000 support.
Similarly, there was no breakout in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is facing a strong barrier near the USD 600 and USD 602 levels. XRP/USD struggled to clear the USD 0.620 resistance and it is sliding towards the USD 0.600 support.
Fewer people are depositing $BTC to exchanges. Fewer people are depositing #stablecoins to exchanges.
— Ki Young Ju 주기영 (@ki_young_ju)
Total market capitalization
Recently, bitcoin price attempted to gain strength above USD 19,350, but it failed. BTC struggled to even test the USD 19,500 resistance and trimmed gains. The price is trading below USD 19,350 and it could revisit the USD 19,000 support. The next major support area sits near the USD 18,800 level.
To start a steady increase, the price must first surpass the USD 19,350 resistance. The main resistance is still near USD 19,500, above which the bulls might take control.
Ethereum price is struggling to clear the USD 600 resistance. ETH is slowly moving lower and trading below USD 595. The first key support is near the USD 585 level, below which the price may perhaps slide towards the USD 565 support zone.
On the upside, the price must settle above the USD 600 and USD 602. If it succeeds, the bulls might aim for a strong upward move towards the USD 620 and USD 625 levels in the short-term.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price moving lower and approaching the USD 280 support zone. If BCH slides below the USD 280 support, there is a risk of a larger decline towards the USD 265 support. Conversely, a fresh increase towards the USD 292 and USD 295 levels might face resistance. The main resistance sits at USD 300.
Litecoin (LTC) struggled to clear the key USD 86.50 resistance and trimmed gains. LTC is now trading well below USD 85.00 and it could revisit the USD 81.20 support. Any further losses could push it towards the USD 80.00 support. To the upside, the price could gain strength if it clears USD 85.50 and USD 86.50.
XRP price failed to clear the USD 0.620 resistance level. There was a minor bearish reaction and the price traded below USD 0.610. It is approaching the USD 0.600 support, below which the price could decline steadily towards the USD 0.580 and USD 0.575 levels.
Other altcoins market today
In the past few hours, a few altcoins started a decent increase, including SNX, AMPL, HT, FIL, OKB, LSK, and UNI. Out of these, SNX gained 5% and it might test the USD 5.50 resistance zone.
Overall, bitcoin price is still stuck in a crucial range below the USD 19,500 resistance. If BTC continues to struggle, there is a major risk of a sharp decline below the USD 19,000 and USD 18,500 levels.