Bitcoin Surpasses USD 11,800, Ethereum, Altcoins Slide
- Bitcoin price extended its rise and broke the USD 11,800 resistance.
- Ethereum failed to clear the USD 380 resistance, XRP is back below USD 0.245.
- DASH extended its rise, and FXC rallied to move into the top 100 club.
Bitcoin price remained in a positive zone above the 11,550 resistance. BTC extended its rise above the USD 11,800 resistance and it even spiked above USD 11,900. The price is currently (13:00 UTC) up 3% and it might soon attempt an upside break above the USD 12,000 resistance.
Conversely, most major altcoins trimmed gains and moved into the red zone, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD failed to settle above USD 380 and declined sharply below USD 375. XRP/USD is also declining below USD 0.245 and it might continue to move down.
Total market capitalization
In the past two sessions, bitcoin price mostly traded with a bullish bias above the USD 11,550 level. BTC extended its rise and broke the USD 11,800 resistance. The next major resistance is near the USD 12,000 level, above which the bulls might aim for a test of USD 12,000. An intermediate resistance is near the USD 12,200 level.
If there is a downside correction, the USD 11,650 level is an initial support. The main support is now forming near the USD 11,550 level (the recent breakout zone).
Ethereum price topped near the USD 385 level today and started a fresh decline. ETH broke the USD 375 support and it even spiked below USD 372. The next key support is near the USD 365 level, below which the bears might aim for a test of USD 360.
On the upside, the USD 375 level might once again act as a resistance for the bulls. The next major resistance is still near USD 380.
Bitcoin cash, chainlink and XRP price
Bitcoin cash price failed to surpass the USD 250 resistance. As a result, there was a bearish reaction below the USD 245 support. BCH is now approaching the USD 240 support level. Any further losses could open the doors for a test of USD 232. On the upside, the USD 250 level remains a major hurdle for the bulls.
Chainlink (LINK) struggled to clear the USD 10.80 resistance and reacted to the downside. The price is down 4% and it broke the USD 10.50 support level. It is approaching the USD 10.25 support level, below which the next stop for the bears could be USD 10.00. On the upside, the USD 10.50 and USD 10.60 levels are short-term barriers.
XRP price is down 2% and it is now trading below the USD 0.245 support. An initial support is near the USD 0.242 level. The main breakdown support is at USD 0.240, below which the price might test USD 0.232. On the upside, the USD 0.245 level might act as a pivot zone.
Other altcoins market today
In the past few hours, many altcoins declined over 5%, including AR, NEAR, OCEAN, UMA, NXM, THETA, BAND, COMP, UNI, AAVE, SNX, XTZ, CEL, REN, and ANY. Out of these, AR and NEAR are down 10%. DASH is one of the best performers today.
Overall, bitcoin price is gaining momentum above the USD 11,800 resistance. BTC might soon test the USD 12,000 resistance. If it fails to continue higher, there could be a sharp bearish reaction to USD 11,550.