· 2 min read

Bitcoin and Altcoins Bulls Defending Crucial Breakdown Supports

Bitcoin bulls defended the key USD 10,000 support zone once again. Ethereum is facing an uphill task near USD 350, XRP must break USD 0.244 for a decent recovery. BNB outperformed major altcoins and traded above the USD 23.50 resistance.

Bitcoin price is trading in a crucial range below the USD 10,400 and USD 10,500 resistance levels. BTC bears made another attempt to clear the USD 10,000 support. However, the bulls defended losses below USD 10,000 and the price is currently (08:30 UTC) trading well above the USD 10,000 support.

Similarly, most major altcoins are consolidating above crucial breakdown supports, including ethereum, XRP, litecoin, bitcoin cash, EOS, XLM, LINK, TRX, and ADA. BNB remained well bid and it gained over 6% today. ETH/USD tested the USD 330 support and it might retest the USD 350 resistance. XRP/USD is slowly rising, but it must gain pace above USD 0.244 to start a decent recovery.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

It seems like bitcoin price is finding a strong buying interest near the USD 10,000 support. BTC bears made another attempt to clear the USD 10,000 and USD 9,850 support levels, but they failed. The price is currently recovering and moving higher in the range towards the USD 10,300 level. The main resistance on the upside is still near the USD 10,400 and USD 10,500 levels.
On the downside, a daily close below USD 10,000 and USD 9,850 might confirm a breakdown and the price could continue lower.

Ethereum price

Ethereum price is trading above the USD 320 and USD 330 levels. ETH is currently trading near USD 340 and it seems like the bulls might attempt to clear the USD 350 resistance.
If they succeed, the price might continue to rise towards the USD 365 and USD 370 levels. Conversely, the price might revisit the USD 310 and USD 300 support levels.

Bitcoin cash price failed to continue higher above USD 235 and it declined towards USD 222. The main support is still near USD 220, below which the price might accelerate lower towards the USD 200 support. On the upside, BCH may perhaps face hurdles near USD 235 and USD 240 in the near term.
Chainlink (LINK) is consolidating the recent rise near the USD 12.00 level. The price seems to be facing a major resistance near USD 13.00, above which it could start another strong rally. The next key resistances are near USD 14.50 and USD 15.00. Conversely, a clear break below USD 11.20 might lead the price towards the USD 10.00 support.
XRP price is holding the USD 0.232 support and it is trading above the USD 0.235 level. The price is approaching USD 0.240, but the main breakout zone is near USD 0.244. A clear break above USD 0.244 could start a decent recovery wave towards the USD 0.255 and USD 0.262 levels.

Other altcoins market today

In the past three sessions, a few small altcoins declined over 5%, including HYN, SUSHI, YFII, BTS, SRM, BAND, OCEAN, AR, KSM, ANT, EWT, NXM, LEND, and NEO. Out of these, HYN is down close to 30%, SUSHI weakened over 15%.

Overall, bitcoin bulls are putting up a strong fight near the USD 10,000 and USD 9,850 levels. As long as there is no daily close below USD 10,000, BTC could start a steady recovery wave in the coming sessions.

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