Altcoins price analysis: strong increase in most major altcoins

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Recently there has been a strong increase in most major altcoins like ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD climbed 7% and it is now trading well above the USD 600 level. XRP/USD is still surging and it was able to climb above USD 0.650 and USD 0.675.
Ethereum price
Ethereum price climbed higher steadily above the USD 600 resistance level. Ethereum even cleared the USD 612 resistance and it is now trading near the USD 620 level. An immediate resistance level is near the USD 625, above which the bulls might want to test USD 640 or even USD 648.
If there is a downside correction, the USD 605 and USD 600 levels might provide support. The next key support might be forming near the USD 585 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price gained over 15% and it rose above the USD 300 and USD 325 resistance levels. BCH is now trading close to USD 350 and it might correct a few points. An initial support is near the USD 325 level, below which the price could test the USD 310 level. Conversely, the price could increase further above USD 350 and USD 365.
Litecoin (LTC) is currently trading above the USD 88.50 and USD 90.00 resistance levels. If the current price action stays intact, there are chances of a steady rise towards the USD 98.00 and USD 100.00 resistance levels. On the downside, the USD 88.50 and USD 86.50 levels might provide support.
XRP price remained elevated and it rallied over 50%. There was a clear break above the USD 0.650 and USD 0.675 resistance levels. If the price breaks the USD 0.700 level, the next stop for the bullish trend could be USD 0.715. On the downside, there are many supports forming, beginning with USD 0.675 and USD 0.662.
Other altcoins market today
In the past few hours, many altcoins gained over 15%, such as XLM, ZEN, NANO, BTG, SNT, XEM, OXT, MONA, QTUM, TRX, ALGO, RVN, NEO, ETC, ICX, BAT, ZRX, and ZEC. Out of these, XLM performed well and it could soon hit the USD 0.200 resistance level.
Overall, bitcoin price is trading in a broad range below the USD 18,800 resistance levels. On the other hand, major altcoins are gaining pace and it looks like ETH, XRP, LTC, BCH, and XLM might continue their strong increase in the short term.

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