Bitcoin Got Rejected From ATH Once Again, ETH Is Above $600

Bitcoin got rejected from an ATH once again but it was stopped at $19,600 while the stagnation among the altcoins will raise even more speculation if this is the calm before the storm so let’s read more in today’s Bitcoin news.

Although Bitcoin didn’t successfully break above the $19,600 region, the cryptocurrency remained above the $19,000 level as most other altcoins continued displaying an unusual lack of volatility for the second day in a row. The main cryptocurrency recovered from all the losses since the Thanksgiving crash when it dropped below $16,500 and the past week was way more bullish for the asset by painting two consecutive all-time highs on some exchanges.

However, it failed to break the $20,000 level and Bitcoin got rejected from an ATH once again, with more chances of downside movements below $18,100. Over the past few days, the asset calmed down and the coin reclaimed the $19,000 price level before starting another downfall a few hours ago. The cryptocurrency tested all previous all-time high zones near $19,000 but failed to break them and is now trading at $19,300. Despite retracing a few hundred dollars below, it is now sitting still slightly above $19,000.

The technical indicators show that the MACD is gaining momentum in the bearish zone with the hourly RSI for the pair sitting below 50 levels. The major support levels include $19,200 followed by $19,150 while the major resistance levels are set at $19,400 and $19,500.

The technical indicators suggested that the cryptocurrency still has to overcome the first resistance of $19,700 before heading to the $20,000 region once again. In case BTC improves and breaks this level, it could skyrocket to $20,350 and $20,970. On the contrary, the $18,800 and the $18,600 levels will serve as support if BTC heads south. Other altcoins experienced a volatile week as well which saw double-digit price developments in both directions. Over the past few days, most of the altcoins calmed down and displayed an unusual lack of fluctuation that actually meant anything.

One a 24-hour scale, ETH gained 1% and is traded at $600 while Cardano managed to add less than 1% and headed north to $0.16. Ripple declined by 1%, LINK also by 1% along with Polkadot. The lower-cap and mid-cap altcoins remained stagnant but NEM was the only one that increased by 20%. The other 24-hour gainers increased with single-digit percentages with Zilliqa leading with an 8% increase.