Bitcoin and Altcoins Showing Signs of Fresh Increase
- Bitcoin price is gaining pace above USD 11,500.
- Ethereum is approaching the USD 380 resistance, XRP surpassed USD 0.245.
- UMA extended its upward move and broke the USD 8.50 resistance.
Bitcoin price started a steady increase above the USD 11,350 level. BTC was able to climb above the USD 11,450 level and it is currently (12:20 UTC) trading above USD 11,500. If the bulls manage to gain strength above the USD 11,550 resistance, the price might accelerate higher.
Similarly, most major altcoins are showing early signs of a fresh increase, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is trading above USD 375 and it is approaching the USD 380 resistance. XRP/USD outperformed major coins and surpassed the USD 0.245 and USD 0.248 levels.
Total market capitalization
After forming a support base above USD 11,250, bitcoin price started a fresh recovery. BTC cleared the USD 11,450 level and it even moved above the USD 11,500 resistance. It is now facing a major resistance near the USD 11,550 level, above which the bulls might test USD 11,800 or even USD 12,000.
On the downside, an initial support is near the USD 11,350. The main support is still near the USD 11,250 and USD 11,200 levels, below which the price could nosedive.
Ethereum price settled above the USD 370 level and recently climbed above the USD 375 level. ETH is moving higher and it seems like the bulls might test the USD 380 resistance. The next major resistance is near the USD 385 level.
A failure to clear the USD 380 level might push the price back towards USD 375. The next major support is near the USD 370 level, below which the price might revisit the main USD 365 support.
Bitcoin cash, chainlink and XRP price
Bitcoin cash price is rising again and it is approaching the USD 250 resistance. A proper close above the USD 250 resistance could open the doors for a steady increase towards the USD 260 level. The key hurdle for the bulls is still near the USD 265 level. On the downside, the price might find a strong support near USD 240.
Chainlink (LINK) seems to be forming a decent support above the USD 10.40 and USD 10.50 levels. To start a steady increase, the price must clear the USD 10.80 resistance and then gain pace above the USD 11.00 level. Conversely, a downside break below the USD 10.50 support could push the price back towards USD 10.00.
XRP price is up close to 3% and it surpassed the USD 0.245 resistance level. The price is now testing the USD 0.248 resistance, but the main hurdle is near the USD 0.250 level. If there is no upside break above the USD 0.248 or USD 0.250, the price could trim gains and it might decline towards the USD 0.240 support.
Other altcoins market today
In the past few hours, a few altcoins extended gains over 5%, including UMA, OKB, OCEAN, XLM, UNI, ZIL, CVT, QNT, and LSK. Conversely, CRO, FIL, AR, GNT, HEDG, WAVES, and CEL are down more than 5%.
To sum up, bitcoin price is showing a few positive signs above the USD 11,450 and USD 11,500. However, BTC must surpass USD 11,550 for a steady increase. If not, it could restart its decline towards USD 11,200.