Bitcoin and Altcoins Holding Key Uptrend Support
- Bitcoin price is showing positive signs, but facing hurdles near USD 11,550.
- Ethereum is holding the USD 380 support level, XRP is correcting lower.
- ABBC started a strong increase above USD 0.40 and rallied 25%.
Bitcoin price is still trading in a range below the USD 11,500 and USD 11,550 resistance levels. BTC might start a fresh increase as long as it is above the USD 11,250 and USD 11,200 support levels. The price is currently (13:00 UTC) showing signs of exhaustion, but the bulls might protect USD 11,200 or USD 11,000.
In the past two sessions, there was a minor dip in a few major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, and ADA. ETH/USD moved lower from the USD 390 resistance, but it is holding USD 380. XRP/USD down 2% and it is approaching the USD 0.250 support. Bitcoin cash price remained well bid, but it is correcting lower towards the USD 252 and USD 250 levels.
Total market capitalization
There were range moves in bitcoin price above the USD 11,200 and USD 11,250 support levels. BTC is now facing an immediate resistance near USD 11,480. A clear break above the USD 11,480 level might increase the chances of a break above the USD 11,550 resistance level.
Conversely, there could be a sharp bearish reaction below the USD 11,250 and USD 11,200 support levels. The main breakdown support is still near USD 11,000.
Ethereum price retested the USD 378 and USD 380 support levels. ETH is currently consolidating above USD 380, with an immediate resistance near the USD 385 level. The first major resistance is near USD 390, followed by USD 392 and USD 395.
On the downside, the price might decline towards the USD 365 support if there is a break below the USD 378 support level.
Bitcoin cash, chainlink and XRP price
Bitcoin cash price corrected lower after a 5% rise above the USD 255 resistance. BCH is now facing resistance near USD 260, but the next major resistance for a sustained move higher is near the USD 265 level. If there is a downside correction, the USD 250 level is a short-term support. The main support for the bulls is now forming near USD 240.
Chainlink (LINK) failed to stay above the USD 11.20 support. It even corrected below the USD 11.00 support and tested the USD 10.75 level. If there are more losses, the next stop for the bears might be USD 10.50. On the upside, the previous support near the USD 11.20 level may now act as a resistance for the bulls.
XRP price made a few attempts to clear the USD 0.260 resistance level and it recently started a fresh decline. The price broke the key USD 0.255 support and even tested USD 0.252. The next major support is near the USD 0.250 level, below which the price might test the USD 0.245 support zone.
Other altcoins market today
In the past few hours, a few altcoins climbed over 5%, including ABBC, HYN, RSR, OCEAN, and QNT. Conversely, AR, YFI, STORJ, CRO, AVAX, ZIL, SOL, UMA, and BAND are down more than 5%.
Overall, bitcoin price is holding the main USD 11,250 and USD 11,200 support levels. On the upside, a clear break above the USD 11,550 resistance level could start a fresh upward move towards USD 11,800 or even USD 12,000.