Altcoins, Bitcoin, Cryptocurrency

Bitcoin and Altcoins Adjusting Profits – Trying To Keep Up With The Vital Supports

  • Bitcoin price is trading beyond the USD 13,000 and USD 12,750 support range.
  • Ethereum is combining gains above USD 400, XRP is grappling to gain pace.
  • FIL and QNT soared above with yields over 5%.

Just recently, there was an upside continuation in bitcoin higher than the USD 13,200 level. BTC traded to a distinct multi-week high near USD 13,350 before it started a downside correction. The price prevailed well supported above USD 12,750, and it is currently (05:00 UTC) trading above USD 13,000.

Similarly, there was a minor downside correction in most significant altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD corrected lower from the USD 420 high, but it holds the USD 400 support. On the other hand, it seems like XRP/USD is facing a massive resistance near the USD 0.260 and USD 0.262 levels.

Total market capitalization


Bitcoin Price

After a short-term downside correction, bitcoin price found support just above USD 12,800. BTC started a fresh increase and climbed back above USD 13,000. An initial resistance on the upside is near the USD 13,200 level. The first significant resistance is near the USD 13,350, above which the bulls might aim for a break above the USD 13,500 level.

On the downside, initial support is near the USD 13,000 level. The primary weekly support seems to be forming near the USD 12,750 level.

Ethereum Price

Ethereum price started a downside correction from the USD 420 resistance. ETH/USD is currently trading with a positive bias above the USD 400 and USD 405 levels. Immediate resistance is near the USD 412 level, but the primary resistance for upside continuation is near the USD 420 level.

If there is another downside correction, the USD 400 support holds the key. A clear break below USD 400 could push the price towards the USD 385 weekly support zone.

Bitcoin Cash, Chainlink, and XRP Price

Bitcoin’s cash price soared higher above the USD 270 and USD 275 levels, but it failed to test the USD 280 resistance. BCH is currently consolidating near the USD 270 level, and it might correct a few points. The first significant support is near the USD 265 level, below which the USD 260 zone could provide firm support.

Chainlink (LINK) rallied above the USD 11.00 and USD 12.00 levels. It traded to a new monthly high at USD 12.95 before starting a downside correction. The price is now trading near USD 12.35, with strong support near USD 12.20 and USD 12.00. On the upside, the bulls might struggle to clear USD 13.00.

XRP price corrected lower, but it remained well bid above the USD 0.250 and USD 0.252 levels. The price is now rising and trading above USD 0.255. However, the bulls need to gain strength above the weekly hurdles at USD 0.260 and USD 0.262 to start another significant increase.

Other Altcoins Market Today

In the past couple of hours, many altcoins gained over 5%, including FIL, QNT, NEAR, RSR, HEDG, DOGE, EGLD, XMR, BAL, BSV, and AR. Conversely, ABBC, EWT, OCEAN, UMA, ATOM, and AMLP are down over 5%.

Overall, the bitcoin price is showing a lot of positive signs above USD 12,750 and USD 13,000. There could be more range moves in BTC, but there are high chances of an upside break above USD 13,200 and USD 13,350 in the near term.

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