Bitcoin is struggling with the $13K level after a dip to $12,720. Most major altcoins have lost some value, apart from Chainlink price, which continues heading north.

Following the past days of notable price developments within the cryptocurrency market, most assets have calmed. Bitcoin remains just shy $13K, while some of the major altcoins have even retraced slightly.

Bitcoin struggles at $13K

The past seven days were impressive for Bitcoin. After a brief dip to $11,400 last week, the leading cryptocurrency went on a roll. Positive news from PayPal only accelerated BTC’s bullish run, resulting in a fresh 2020 high painted a few days ago at $13,200.

After that, Bitcoin has maintained a relatively robust position around the $13,000 mark. In the past 24 hours, Bitcoin has hovered around that level as well.

The only exception came a few hours ago when it tanked to $12,730 on Bitstamp. However, the bulls quickly took control and drove it back to the familiar ground.

From a technical standpoint, the new 2020 high of $13,200 is the first important resistance in BTC’s way up. Should the asset break above it, the next ones are $13,400, $13,500, and $13,600.

Alternatively, Bitcoin could find support at $12,550, $12,400, $12,125, and $12,000 in case the recent trend reverses and Bitcoin heads south.

Altcoins news

Altcoins joined Bitcoin $13K party with a slight delay last week. Nevertheless, they marked some significant gains, which ultimately increased the total market cap by over $40 billion in a week.

The situation has changed a little in the past 24 hours. After jumping above $415 yesterday, Ether has lost some value and currently trades beneath that level. Ripple (-1.6%), Bitcoin Cash (-0.8%), Binance Coin (-0.9%), and Cardano (-1.6%) have also dipped slightly on a 24-hour time frame.

Polkadot has increased by about 2%, while Chainlink has gained 3%. LINK’s great performance as of late has driven the asset above $12.

The most impressive gainer since yesterday has been ABBC Coin. ABBC has pumped by 21% to $0.57. Ocean Protocol (14.5%), Elrond (14%), and Yearn. Finance (11%) follow suit.

Reserve Rights (-6.5%), Energy Web Token (-6%), HedgeTrade (-6%), and OKB (-5%) have lost the most value in the past day.

bitstil.com