Analysis shows that Bitcoin price has remained in a bullish zone above USD 13,500 and USD 13,650. Altcoins show positive signs, as Ethereum recovered above USD 395 and tested USD 400 and XRP is struggling to clear the USD 0.242 resistance level.
After a short-term downside correction, bitcoin price gained strength above the USD 13,500 resistance level. Bitcoin is now (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 $14,000 level.
Similarly, a recovery has been seen in most major altcoins like 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 level. XRP/USD is trading above USD 0.240, but it struggles to gain strength above USD 0.242.
After spiking above the USD 14,000 level, BTC price corrected lower. However, BTC remained well bid above the USD 13,500 and USD 13,650 levels. It is now trading with a positive angle, with an immediate resistance level near the USD 13,800 level. The next major resistance is near the USD 13,850 level, above which the price could accelerate higher towards the $14,000 level.
On the downside, the $13,650 level is an initial support. The main weekly support is forming near the USD 13,500 level, below which it could drop towards USD 13,200 or even USD 13,000.
Ethereum price found a support level near the $372 and it has 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 strength above USD 400. To continue higher, the price must settle above USD 400 and USD 405.
If there is a downside correction, the $392 level is an initial support. The key weekly supports are near the USD 380 and USD 372 levels.
Bitcoin cash, Chainlink and XRP price
Bitcoin cash price is increasing again and it is trading well above the USD 260 and USD 262 levels. It is showing positive signs near USD 260, but it might face hurdles near the $270 level. A successful close above the USD 270 level could push it towards the USD 280 and USD 285 levels.
Chainlink (LINK) started a strong recovery 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 key 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 level 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 major 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.
Our last articles: