As discussed yesterday, bitcoin price started a strong upward move after it broke the USD 12,000 resistance. BTC bulls gained strength, resulting in a surge above the USD 12,750 and USD 13,000 levels. The price tested the USD 13,250 zone and it is currently (05:00 UTC) correcting gains below USD 13,000.
Similarly, most major altcoins gained bullish momentum, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD surged above the USD 385 resistance and tested the USD 400 barrier before correcting lower. XRP/USD settled above the USD 0.252 pivot level and it even broke the USD 0.255 resistance.
Total market capitalization
In the past few sessions, bitcoin price gained bullish momentum and surpassed many hurdles such as USD 11,800, USD 12,000, and USD 12,500. BTC extended its rally above the USD 12,750 and USD 13,000 levels. It traded to a new monthly high near USD 13,250 before starting a downside correction.
There was a break below the USD 13,000 and USD 13,850 levels. However, the bulls are currently defending the USD 12,700 and USD 12,600 levels. The next major support is near USD 12,500.
Ethereum price followed bitcoin’s rise and cleared the USD 385 resistance. ETH gained over 5% and it even tested the main USD 400 resistance. However, it faced a strong selling interest near USD 400, resulting in a sharp downside correction.
The price is back below the USD 395 level, but there are many supports on the downside. The first key support is at USD 388, followed by the USD 385 pivot level.
Bitcoin cash, chainlink and XRP price
Bitcoin cash price surged over 5% and it broke the USD 260 resistance. BCH even gained pace to clear the USD 265 level. If it remains in the current trajectory, there are chances of a push towards the USD 275 and USD 280 levels. On the downside, the first key support is near the USD 255 level, followed by the USD 250 pivot level.
Chainlink (LINK) gained strength to clear the main USD 10.50 resistance level. As a result, there was a sharp push above the USD 10.60 and USD 10.80 levels. The price even spiked above the USD 11.00 level before starting a downside correction. It is trading near USD 10.80, with many support near USD 10.60 and USD 10.50.
XRP price climbed higher steadily above the USD 0.250 and USD 0.252 resistance levels. It even broke the USD 0.255 resistance and it might continue to rise towards the USD 0.260 barrier. If there is a downside correction, the USD 0.252 and USD 0.250 levels might act as buy zones in the near term.
Other altcoins market today
In the past few hours, many altcoins rallied over 8%, including RSR, LTC, AMPL, REN, QNT, SC, CVT, BCH, NEAR, MIOTA, ZEC, DX, and WAVES. Conversely, ABBC, FIL, and TMTG are down more than 8%.
Overall, bitcoin price is trading in a strong uptrend above USD 12,200 and USD 12,500. BTC might correct further or consolidate in the short-term before it starts a fresh increase towards USD 13,000 or higher.