Bitcoin Remains In Uptrend, Altcoins Show Positive Signs
- Bitcoin price remained in a bullish zone above USD 13,500 and USD 13,650.
- Ethereum recovered above USD 395 and tested USD 400, XRP is struggling to clear the USD 0.242 resistance.
- OCEAN and AAVE are up over 10%.
After a short-term downside correction, bitcoin price regained strength above the USD 13,500 resistance. BTC is currently (05:00 UTC) trading well above USD 13,650 and it might continue higher above USD 13,800 and USD 13,850. The main hurdle for more upsides is near the USD 14,000 level.
Similarly, there was a recovery wave in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is recovering higher and it could even settle above the USD 400 resistance. XRP/USD is trading above USD 0.240, but it is struggling to gain momentum above USD 0.242.
Total market capitalization
After spiking above the USD 14,000 level, bitcoin price corrected lower. However, BTC remained well bid above the USD 13,500 and USD 13,650 levels. BTC is trading with a positive angle, with an immediate resistance near the USD 13,800 level. The next key resistance is near the USD 13,850 level, above which the price could accelerate higher towards the USD 14,000 level.
On the downside, the USD 13,650 level is an initial support. The main weekly support is forming near the USD 13,500 level, below which it could decline towards USD 13,200 or even USD 13,000.
Ethereum price found a support near the USD 372 level and it started a fresh upward move. ETH broke the USD 385 resistance level and even traded above USD 395. The price is now struggling to gain pace above USD 400. To continue higher, the price must settle above USD 400 and USD 405.
If there is a downside correction, the USD 392 level is an initial support. The main weekly supports are seen near the USD 380 and USD 372 levels.
Bitcoin cash, chainlink and XRP price
Bitcoin cash price is rising again and it is trading well above the USD 260 and USD 262 levels. BCH is showing positive signs near USD 260, but it might face hurdles near the USD 270 level. A successful close above the USD 270 level could open the doors for a push towards the USD 280 and USD 285 levels.
Chainlink (LINK) started a strong recovery wave from the USD 10.80 support zone. The price is back above USD 11.20 and it is trading above the USD 11.50 level. The first major resistance is near the USD 11.80 level, above which the bulls could attempt a clear break above the USD 12.00 hurdle.
XRP price found support near USD 0.235 and recovered back above the USD 0.240 level. The price is now struggling near the USD 0.242 level, but the main weekly resistance is near USD 0.245. A successful break above USD 0.245 is needed for a push above USD 0.250 and USD 0.252.
Other altcoins market today
In the past few hours, a few altcoins gained over 5%, including OCEAN, AMPL, AAVE, OMG, COMP, ZRX, YFI, NEO, ADA, RSR, UNI, ALGO, and KSM. Out of these, OCEAN rallied over 15% and it broke the USD 0.500 resistance zone.
Overall, bitcoin price is trading in an uptrend above the USD 13,650 and USD 13,500 support levels. If BTC gains strength above USD 13,850, it could surge above USD 14,000 and USD 14,200.