Bitcoin, Ethereum and Altcoins Target Additional Gains

  • 20 November 2020, Friday, 10:06

Bitcoin price remained in a bullish zone above the USD 18,000 support area. There were a couple of swing moves in BTC, but it struggled to clear the USD 18,350 and USD 18,500 resistance levels. The price is currently (13:00 UTC) trading well above USD 18,000 and it seems like the bulls aim for a clear break above USD 18,500. Also, there was a strong upward move in most major coins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD broke the USD 500 resistance and it even climbed above USD 505. XRP/USD is up 6% and it surpassed the USD 0.312 resistance level.

Total market capitalization

Bitcoin price

There were mostly positive moves in bitcoin price above the USD 18,000 support. BTC made a couple of attempts to gain bullish momentum above USD 18,300 and USD 18,350, but it struggled. The price is stuck in a range and it seems like the bulls might make another attempt to clear the USD 18,350 and USD 18,500 resistance levels. If they fail, there is a risk of a sharp downside correction below USD 18,100 and USD 18,000. The next major support is near USD 17,750, below which the price could revisit the USD 17,500 support.

Ethereum price

Ethereum price surged and broke the USD 498 and USD 500 resistance levels. ETH even cleared the USD 505 level and tested USD 510. The price is trading above USD 500 and it seems like the price might continue to rise towards the USD 512 and USD 518 levels. If there is a downside correction, the USD 502 and USD 500 levels might provide support. Any further losses may possibly lead the price towards the USD 485 support zone.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price is holding the USD 250 support level. BCH is now struggling to gain pace above USD 250. A successful break and close above the USD 250 level could open the doors for more upsides above USD 260 and USD 262. The next key resistance is near the USD 265 level. Litecoin (LTC) is consolidating gains above the USD 80.00 support level. On the upside, the USD 82.50 level is an initial hurdle. The first major resistance is now near USD 83.50, above which the price might rally above USD 85.00. On the downside, a clear break below USD 80.00 may perhaps push the price towards USD 78.00. XRP price surged over 5% and it broke the USD 0.305 and USD 0.310 levels. The price even traded above USD 0.312 and it is now consolidating gains. The next major resistance sits at USD 0.315. On the downside, the price might find a strong buying interest near 0.305.

Other altcoins market today

In the past few hours, many altcoins rallied over 15%, including SUSHI, WAVES, CRV, RSR, UNI, CVT, DOT, TMTG, and SNX. Out of these, WAVES surged close to 30% and it surpassed the USD 6.80 level.

To sum, bitcoin price is holding the key USD 18,000 support level. The current price action suggests that BTC might clear the USD 18,350 and USD 18,500 resistance levels in the near term. __

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