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The bitcoin price remained in a positive zone above the resistance of 11,550. BTC extended its rise above the USD 11,800 resistance and even jumped above USD 11,900. The price is currently (13:00 UTC) up 3% and may soon attempt a break to the upside above the USD 12,000 resistance.
Conversely, most major altcoins have trimmed their gains and moved into the red zone, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. The ETH / USD failed to stabilize above USD 380 and fell sharply below USD 375. XRP / USD is also falling below USD 0.245 and may continue to fall.
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Bitcoin price
Over the past two sessions, the bitcoin price has mostly been trading in an uptrend 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 may aim for a test of USD 12,000. Intermediate resistance is near the USD 12,200 level.
If there is a downward 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
The price of Ethereum reached the USD 385 level today and started a new decline. ETH broke the USD 375 support and even jumped below USD 372. The next key support is near the USD 365 level, below which the bears could point to a test of USD 360.
On the upside, the USD 375 level could act as resistance for the bulls once again. The next big resistance is still near USD 380.
Bitcoin cash, chainlink and XRP price
The bitcoin cash price failed to break out of 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 door for a USD 232 test. On the positive side, the USD 250 level remains a major obstacle for the bulls.
Chainlink (LINK) struggled to break out of the USD 10.80 resistance and reacted to the downside. The price fell 4% and broke the USD 10.50 support level. It is approaching the USD 10.25 support level, below which the next stop for bears could be USD 10.00. On the upside, the USD 10.50 and USD 10.60 levels represent short-term barriers.
The XRP price fell 2% and is now trading below the USD 0.245 support. Initial support is near the USD 0.242 level. The main breakdown support is at USD 0.240, below which the price could test USD 0.232. On the upside, the USD 0.245 level could act as a pivot zone.
More altcoin markets today
In the past few hours, many altcoins have fallen by more than 5%, including AR, NEAR, OCEAN, UMA, NXM, THETA, BAND, COMP, UNI, AAVE, SNX, XTZ, CEL, REN and ANY. Of these, AR and NEAR are down 10%. DASH is one of the best performers today.
Overall, the bitcoin price is gaining momentum above the USD 11,800 resistance. BTC may soon test the USD 12,000 resistance. If it fails to continue to the upside, there may be a strong bearish reaction at USD 11,550.
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