Bitcoin and Altcoins Approaching Make-or-Break Levels Again
- Bitcoin price is approaching the key USD 11,000 resistance zone.
- Ethereum is now trading above USD 360, XRP might test USD 0.245.
- DGB, REN, and MKR climbed around 15% today.
Bitcoin price is showing early signs of an upside break above the USD 10,800 resistance. BTC is currently (08:30 UTC) consolidating near USD 10,800 and it seems like the bulls are working on an upside break above the USD 10,950 and USD 11,000 resistance levels in the next 2-3 sessions.
Similarly, most major altcoins are trading near important levels, including ethereum, XRP, litecoin, bitcoin cash, EOS, XLM, LINK, BNB, TRX, and ADA. ETH/USD is slowly rising and approaching the USD 365 resistance level. XRP/USD managed to stay above USD 0.240 and it might revisit the main USD 0.245 resistance zone.
Total market capitalization
In the two sessions, bitcoin price followed a bullish path above the USD 10,650 support. BTC broke the USD 10,800 resistance and it is showing positive signs. However, the bulls are still facing a heavy resistance near USD 10,950 and USD 11,000, above which the price might accelerate higher.
If there is no upside break above USD 11,000, there could be a fresh downward move. The first major support is near the USD 10,650, followed by the key USD 10,550 support.
Ethereum price is slowly rising from the USD 355 support, similar to bitcoin. ETH broke the USD 360 resistance and it seems like the bulls might push the price above the USD 365 resistance. The next major resistance could be USD 375.
If they fail to clear the USD 365 resistance, there might be a bearish reaction. The main support on the downside is still near the USD 355 level, below which it could dive towards the USD 335 level.
Bitcoin cash, chainlink and XRP price
Bitcoin cash price is attempting an upside break above the USD 230 resistance. The next key resistance is near the USD 235 level, above which the price may perhaps rise steadily towards the USD 250 resistance. If there is no clear break above the USD 235 resistance, it could move down in the range and revisit the USD 220 support.
Chainlink (LINK) is recovering from the USD 9.50 zone and it is now trading above the USD 10.00 level. The price is consolidating near USD 10.20 and it seems like the bulls might attempt a clear break above the USD 10.50 resistance. If they fail, there is a risk of a fresh decline below the USD 10.00 support.
XRP price spiked below USD 0.240, but it managed to recover higher. The price is currently trading near the USD 0.242 pivot level and it might rise towards the key USD 0.245 resistance zone. A clear break above the USD 0.245 resistance might open the doors for a larger increase in the near term.
Other altcoins market today
In the past three sessions, many altcoins gained over 10%, including DGB, REN, MKR, XMR, BTT, ZEC, CEL, ZIL, ALGO, OCEAN, and YFII. Out of these, DGB rallied close to 20% and it surpassed the USD 0.0275 resistance.
Overall, bitcoin price is moving higher towards the main USD 10,950 and USD 11,000 resistance levels. If BTC settles above USD 11,000, it could open the doors for a sharp increase in the near term.