Bitcoin and Altcoins Signaling Fresh Rally
- Bitcoin price is gaining traction and it is back above USD 11,200.
- Ethereum is approaching the USD 400 resistance, XRP might breach USD 0.320.
- LINK is up more than 10% and it traded above the USD 9.400 level.
Bitcoin price is forming a strong support base above the USD 11,000 level. BTC is rising steadily and it is currently (08:30 UTC) trading above USD 11,200. If there is a clear break above USD 11,450, the price might accelerate higher towards the USD 12,000.
Similarly, most major altcoins are moving steadily in the bullish zone, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, XLM, LINK, and ADA. ETH/USD is up more than 3% and it is approaching the USD 400 resistance and breakout zone. XRP/USD is also rising and it seems like the bulls are targeting a clear break above USD 0.320.
Total market capitalization
After a successful close above USD 11,000, bitcoin price seems to be forming a strong support base. The price is gaining pace above the USD 11,100 and USD 11,200 levels. The next hurdle is near USD 11,400 and USD 11,450, above which the price might accelerate higher towards USD 11,800 or even USD 12,000.
On the downside, the USD 11,000 level is a major support. If there is a downside break, the price may perhaps retest the USD 10,800 support.
Ethereum price is moving above the USD 380 level. ETH is trading above the USD 390 level and it seems like the bulls are aiming a break above the USD 400 barrier. The next major resistance is near the USD 420 level.
On the downside, an initial support is near the USD 385 level, followed by the key USD 380 pivot and support zone.
Bitcoin cash, ADA and XRP price
Bitcoin cash price is consolidating below the USD 298 and USD 300 resistance levels. BCH is up around 2% and it might make another attempt to clear the USD 300 resistance. If the bulls are successful, the price might surge towards the USD 320 level. Conversely, the USD 282 level could provide a strong support.
ADA is still stuck below the USD 0.140 and USD 0.145 resistance levels. A clear break above the USD 0.145 range resistance could open the doors for a sharp rise above USD 0.150 and USD 0.155. Conversely, a clear break below the USD 0.130 support might put the bears in control in the near future.
XRP price is trading in a positive zone above the USD 0.300 and USD 0.305 levels. The first major hurdle is near the USD 0.320 level. A clear break above the USD 0.320 level may perhaps push the price above the USD 0.325 barrier. The next target for the bulls above USD 0.325 is seen near the USD 0.332 level.
Other altcoins market today
In the past three sessions, many small altcoins gained over 10%, including TMTG, UBT, BAND, REN, SXP, LINK, RSR, KAVA, and QTUM. Out of these, TMTG rallied 40% and UBT climbed nearly 35%.
Overall, bitcoin price is signaling more upsides above the USD 11,400 and USD 11,450 levels. If BTC fails to settle above USD 11,450 level, there could be another downward move towards the USD 11,000 support level. Conversely, the price might accelerate above USD 11,450 and USD 11,600.