Bitcoin price is gaining traction and it broke $13,500 and $13,800 resistance levels against the US Dollar. BTC is likely to continue higher above the $14,000 resistance.
- Bitcoin is up over 5% and it surpassed the main $13,500 resistance level.
- The price is trading with a positive angle above $13,800 and the 100 hourly simple moving average.
- There was a break above a major bearish trend line with resistance near $13,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely to gain strength above the $14,000 resistance level in the near term.
Bitcoin Price is Gaining Momentum
Bitcoin price remained in a positive zone after it cleared the key $13,500 resistance zone. BTC settled nicely above the $13,500 level and the 100 hourly simple moving average to open the doors for more gains.
More importantly, there was a break above a major bearish trend line with resistance near $13,100 on the hourly chart of the BTC/USD pair. The pair gained momentum and it even broke the $13,800 resistance level.
A high is formed near $13,851 and the price is showing no major signs of trend exhaustion. If there is a downside correction, the $13,750 level is an initial support. It is close to the 23.6% Fib retracement level of the recent wave from the $13,352 swing low to $13,851 high.
Source: BTCUSD on TradingView.com
The first major support is near the $13,600 level. It represents the 50% Fib retracement level of the recent wave from the $13,352 swing low to $13,851 high.
On the upside, the $13,850 level is a short-term resistance. The main resistance is near the $14,000 level, above which the bulls are likely to gain strength for another rally. The next stop could be $14,200 or even $14,400.
Downside Correction in BTC?
If bitcoin fails to climb above the $13,850 or $14,000 resistance levels, there is a risk of a short-term downside correction. An initial support is near the $13,750 zone.
The main support is near the $13,600 and $13,500 levels, below which there are chances of a larger decline towards the $13,000 support level (the previous breakout zone).
Technical indicators:
Hourly MACD – The MACD is now gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level, with positive signs.
Major Support Levels – $13,750, followed by $13,600.
Major Resistance Levels – $13,850, $14,000 and $14,000.
Bitcoin price remained well bid above the USD 13,000 pivot level and started a fresh increase. BTC broke the USD 13,300 resistance and traded to a new monthly high above USD 13,450. It is currently (13:00 UTC) consolidating gains and it might continue higher.
Also, there was a strong recovery in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and
Chainlink (LINK) seems to be forming a short-term top near $12.98. A head and shoulders pattern is likely forming, which could trigger a sharp decline below the $11.50 support.
- Chainlink token price started a fresh decline after it failed to clear the $13.00 resistance against the US dollar.
- The price is holding the $11.50 support level and the 100 simple moving average (4-hours).
- There is a crucial contracting triangle forming with resistance near $12.00 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
- A head and shoulders pattern seems to be forming with support near $11.40-$11.50.
Chainlink (LINK) Price Remains At Risk
This past week, we saw a sharp increase in chainlink (LINK) above the $11.50 and $12.00 resistance levels. The price even broke the $12.50 resistance and settled well above the 100 simple moving average (4-hours).
A new monthly high was formed near $12.98 and the price recently started a downside correction. There was a break below the $12.00 support level. The bears were able to push the price below the 23.6% Fib retracement level of the upward move from the $9.79 swing low to $12.98 high.
LINK price found support near the $11.40 zone and it remained well bid above the 100 simple moving average (4-hours). The 50% Fib retracement level of the upward move from the $9.79 swing low to $12.98 high also acted as a support.
Source: LINKUSD on TradingView.com
It is currently consolidating losses (similar to Ethereum and ripple), but facing a couple of key hurdles. It seems like is a crucial contracting triangle forming with resistance near $12.00 on the 4-hours chart of the LINK/USD pair.
More importantly, there is a potential head and shoulders pattern forming with support near $11.40-$11.50. If the price climbs towards the $12.40 resistance and fails to continue higher, there is a risk of a sharp decline. In the stated case, the price could decline heavily below the $11.40 support and the 100 SMA.
Fresh Increase?
If chainlink’s price breaks the triangle resistance and accelerates above the $12.40 resistance, it could invalidate the mentioned bearish scenario.
The next major resistance on the upside is still near the $13.00 zone. A successful close above the $13.00 level might open the doors for a push towards the $15.00 resistance in the coming days.
Technical Indicators
4-hours MACD – The MACD for LINK/USD is losing pace in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is now well below the 50 level.
Major Support Levels – $11.60, $11.50 and $11.40.
Major Resistance Levels – $12.00, $12.40 and $13.00.
Ethereum declined 5% and it broke the main $400 support against the US Dollar. ETH price is recovering from the $385 support, but it could face hurdles near $400.
- Ethereum is down 5% and it broke the $400 and $395 support levels.
- The price is currently recovering from $385, but it is well below the 100 hourly simple moving average.
- There is a key bearish trend line forming with resistance near $400 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could resume its decline unless it clears the $400 resistance area in the near term.
Ethereum Price is Down 5%
Yesterday, we discussed the chances of a sharp decline in Ethereum below the $400 support. ETH price did fail to clear the $410 resistance and it declined sharply (unlike bitcoin) below the $400 and $395 support levels.
The decline gained pace below $395 and the price settled below the 100 hourly simple moving average. It tested the $385 support zone and a low is formed near $383. Ether price is currently recovering and trading above the $390 level.
There was a break above the 23.6% Fib retracement level of the recent drop from the $418 high to $383 low. On the upside, the price is facing a lot of hurdles near the $395 and $400 levels.
Source: ETHUSD on TradingView.com
There is also a key bearish trend line forming with resistance near $400 on the hourly chart of ETH/USD. The trend line is close to the 100 hourly simple moving average, and the 50% Fib retracement level of the recent drop from the $418 high to $383 low.
To move back into a positive zone, ether price must break the $400 resistance level and settle nicely above the 100 hourly simple moving average. The next stop on the upside could be near the $410 resistance.
More Losses in ETH?
If Ethereum fails to clear the $395 and $400 resistance levels, there is a risk of more losses. An initial support on the downside is near the $388 level.
The main support seems to be forming near the $385 level. A clear break below the $385 support zone could start an extended decline in ether towards the $368 support level in the coming sessions.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is struggling to gain pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is recovering and close to the 40 level.
Major Support Level – $385
Major Resistance Level – $400
Ethereum declined 5% and it broke the main $400 support against the US Dollar. ETH price is recovering from the $385 support, but it could face hurdles near $400.
- Ethereum is down 5% and it broke the $400 and $395 support levels.
- The price is currently recovering from $385, but it is well below the 100 hourly simple moving average.
- There is a key bearish trend line forming with resistance near $400 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could resume its decline unless it clears the $400 resistance area in the near term.
Ethereum Price is Down 5%
Yesterday, we discussed the chances of a sharp decline in Ethereum below the $400 support. ETH price did fail to clear the $410 resistance and it declined sharply (unlike bitcoin) below the $400 and $395 support levels.
The decline gained pace below $395 and the price settled below the 100 hourly simple moving average. It tested the $385 support zone and a low is formed near $383. Ether price is currently recovering and trading above the $390 level.
There was a break above the 23.6% Fib retracement level of the recent drop from the $418 high to $383 low. On the upside, the price is facing a lot of hurdles near the $395 and $400 levels.
Source: ETHUSD on TradingView.com
There is also a key bearish trend line forming with resistance near $400 on the hourly chart of ETH/USD. The trend line is close to the 100 hourly simple moving average, and the 50% Fib retracement level of the recent drop from the $418 high to $383 low.
To move back into a positive zone, ether price must break the $400 resistance level and settle nicely above the 100 hourly simple moving average. The next stop on the upside could be near the $410 resistance.
More Losses in ETH?
If Ethereum fails to clear the $395 and $400 resistance levels, there is a risk of more losses. An initial support on the downside is near the $388 level.
The main support seems to be forming near the $385 level. A clear break below the $385 support zone could start an extended decline in ether towards the $368 support level in the coming sessions.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is struggling to gain pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is recovering and close to the 40 level.
Major Support Level – $385
Major Resistance Level – $400
After a short-term downside correction, bitcoin price found support above USD 12,750. BTC started a fresh increase and it is currently (05:00 UTC) trading above USD 13,000. However, the price must settle above USD 13,200 and USD 13,250 to continue higher in the near term.
Conversely, there was a bearish reaction in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX,
Bitcoin price made another attempt to gain momentum above $13,200 against the US Dollar, but failed. BTC is likely to react to the downside if it continues to struggle near $13,200 and $13,300.
- Bitcoin corrected lower below $13,000, but it found support near $12,800.
- The price is back above the $13,000 zone and the 100 hourly simple moving average.
- There is a key bullish trend line forming with support near $12,880 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair must gain strength above $13,200 to continue higher towards $13,500 in the near term.
Bitcoin Price is Lacking Momentum
Bitcoin price failed to stay above the $13,200 zone and started a downside correction. BTC broke the $13,100 and $13,000 levels, but the bulls were able to defend the $12,800 region.
A low is formed near $12,790 and the price is currently rising. It is back above the $13,000 zone and the 100 hourly simple moving average. There was a break above the 50% Fib retracement level of the recent drop from the $13,247 high to $12,790 low.
On the upside, the $13,150 level is an initial hurdle for the bulls. It is close to the 76.4% Fib retracement level of the recent drop from the $13,247 high to $12,790 low. There is also a connecting bearish trend line forming with resistance near $13,200 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
Bitcoin price must clear the $13,200 resistance and gain momentum to continue higher. The next major resistance on the upside is near the $13,300 level, above which the price might test $13,500.
Bearish Reaction in BTC?
If bitcoin fails to climb above the trend line and the $13,200 resistance zone, there could be a bearish reaction. An initial support is near the $13,000 zone and the 100 hourly simple moving average.
A downside break below the 100 hourly SMA could lead the price towards the $12,800 support. There is also a key bullish trend line forming with support near $12,880 on the same chart. A clear break below the trend line support could open the doors for a larger decline in the coming sessions.
Technical indicators:
Hourly MACD – The MACD is struggling to gain momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is still above the 50 level, with positive signs.
Major Support Levels – $13,000, followed by $12,800.
Major Resistance Levels – $13,150, $13,200 and $13,500.
Ripple corrected lower from $0.2640, but it found support near $0.2510 against the US Dollar. XRP price is currently rising and it seems like the bulls are aiming a fresh increase above $0.2600.
- Ripple remained well bid above the $0.2500 and $0.2510 support levels against the US dollar.
- The price is now trading above the $0.2550 resistance and the 100 hourly simple moving average.
- There was a break above a major bearish trend line with resistance near $0.2555 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair is likely to continue higher if it clears the $0.2585 and $0.2590 resistance levels.
Ripple Price Holding Gains
This past week, we saw a sharp increase in ripple above the $0.2500 resistance area. XRP price even surged above the $0.2600 resistance and settled well above the 100 hourly simple moving average.
It traded to a new monthly high near $0.2640 before starting a downside correction. There was a break below the $0.2600 and $0.2550 support levels. However, the bulls were able to defend the $0.2500 support zone.
A support base seems to be forming near $0.2500 and the price is currently climbing higher. There was a break above the $0.2550 level. More importantly, there was a break above a major bearish trend line with resistance near $0.2555 on the hourly chart of the XRP/USD pair.
Ripple traded as high as $0.2590 and it is currently correcting lower. It is testing the $0.2565 level and the 100 hourly simple moving average. An initial support is near the 50% Fib retracement level of the recent increase from the $0.2518 swing low to $0.2590 high.
Source: XRPUSD on TradingView.com
The next major support is near the broken trend line, and the 61.8% Fib retracement level of the recent increase from the $0.2518 swing low to $0.2590 high. On the upside, the bulls are facing a minor hurdle near $0.2590.
A successful break above the $0.2590 resistance might set the pace for a fresh increase above $0.2600. The next key resistance is near $0.2620, above which the price could even clear the $0.2640 zone.
Key Supports For XRP
The first key support for ripple is near the $0.2550 level and the broken trend line. The next key support is forming near the $0.2510 and $0.2500 levels.
A successful break below the $0.2500 support level could put a lot of pressure on the bulls. In the stated case, the price may possibly decline towards the $0.2450 support level.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level.
Major Support Levels – $0.2550, $0.2510 and $0.2500.
Major Resistance Levels – $0.2590, $0.2600 and $0.2620.
Ethereum is struggling to gain momentum above $410 and $420 against the US Dollar. ETH price might start a strong downside correction if it clears the $400 support.
- Ethereum is facing a couple of major hurdles near the $410 and $412 resistance levels.
- The price is currently holding the $400 support and the 100 hourly simple moving average.
- There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a sharp downside correction below $400 if it stays below $412 for too long.
Ethereum Price is Facing Hurdles
Ethereum failed to set a new monthly high above $420 unlike bitcoin against the US Dollar. ETH price seems to be facing a couple of major hurdles near the $410 and $412 resistance levels.
The last swing high was near $418 before the price declined below the $410 support. There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH/USD. However, ether price remained well bid above the $400 support and the 100 hourly simple moving average.
A low is formed near $403 and the price is currently consolidating in a range. There was a break above the $405 level, but the price is facing a strong resistance near the $410 level. It is also close to the 50% Fib retracement level of the recent decline from the $418 high to $403 low.
Source: ETHUSD on TradingView.com
The next key resistance is near the $412 level or the 61.8% Fib retracement level of the recent decline from the $418 high to $403 low. If ether clears the $410 and $412 resistance levels, there are chances of a strong increase.
The next major resistance is near the $418 swing high and $420. A successful close above the $420 level might open the doors for a sharp increase in the coming sessions. The next stop on the upside could be near the $432 level, followed by $435.
Downside Break in ETH
If Ethereum fails to clear the $410 and $412 resistance levels, there is a risk of a fresh drop. The first major support is near the 100 hourly simple moving average and $405.
The main support seems to be forming near the $400 level. A continuous failure to gain traction above $410 might even result in a sharp decline below the $400 level (the last key breakout zone).
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving in the bullish zone.
Hourly RSI – The RSI for ETH/USD is just below the 50 level.
Major Support Level – $400
Major Resistance Level – $412
Recently, there was an upside extension in bitcoin price above the USD 13,200 level. BTC traded to a new multi-week high near USD 13,350 before it started a downside correction. The price remained 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 major altcoins, including ethereum, XRP, litecoin, EOS,
Bitcoin price traded to a new monthly high at $13,352 before correcting lower against the US Dollar. BTC is currently trading nicely above the 100 hourly SMA and it could attempt another increase.
- Bitcoin is trading nicely above the $12,800 and $13,000 support levels.
- The price is holding gains above the 100 hourly simple moving average, with a positive angle above towards $13,300.
- There is a crucial bullish trend line forming with support near $12,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely to continue higher as long as it is above the 100 hourly SMA and $12,800.
Bitcoin Price Is Showing Positive Signs
Bitcoin price remained well bid above the 13,000 resistance and extended its rise. BTC even broke the last high at $13,250 and traded to a new monthly high at $13,352.
Recently, there was a downside correction and the price broke the $13,000 support. The decline found support near the $12,800 zone and the 100 hourly simple moving average. There is also a crucial bullish trend line forming with support near $12,900 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
Bitcoin is currently rising and trading above the $13,000 level. There was a break above the 50% Fib retracement level of the recent decline from the $13,352 high to $12,834 low.
An immediate resistance is near the $13,150 level. It is close to the 61.8% Fib retracement level of the recent decline from the $13,352 high to $12,834 low. To continue higher, BTC must gain momentum above the $13,200 level.
If there is a daily close above the $13,200 level, the price is likely to accelerate higher above $13,350. The next major resistance on the upside is near the $13,500 level.
Downside Break in BTC?
If bitcoin fails to climb above the $13,150 and $13,200 resistance levels, there could be a fresh decline. The first major support is near the 100 hourly SMA at $13,000.
The main support is near the trend line at $12,900, below which the bulls might even struggle to protect the $12,800 support level in the coming sessions.
Technical indicators:
Hourly MACD – The MACD is slowly gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level, with a positive angle.
Major Support Levels – $13,000, followed by $12,900.
Major Resistance Levels – $13,150, $13,200 and $13,500.
Bitcoin price traded to a new monthly high at $13,352 before correcting lower against the US Dollar. BTC is currently trading nicely above the 100 hourly SMA and it could attempt another increase.
- Bitcoin is trading nicely above the $12,800 and $13,000 support levels.
- The price is holding gains above the 100 hourly simple moving average, with a positive angle above towards $13,300.
- There is a crucial bullish trend line forming with support near $12,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely to continue higher as long as it is above the 100 hourly SMA and $12,800.
Bitcoin Price Is Showing Positive Signs
Bitcoin price remained well bid above the 13,000 resistance and extended its rise. BTC even broke the last high at $13,250 and traded to a new monthly high at $13,352.
Recently, there was a downside correction and the price broke the $13,000 support. The decline found support near the $12,800 zone and the 100 hourly simple moving average. There is also a crucial bullish trend line forming with support near $12,900 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
Bitcoin is currently rising and trading above the $13,000 level. There was a break above the 50% Fib retracement level of the recent decline from the $13,352 high to $12,834 low.
An immediate resistance is near the $13,150 level. It is close to the 61.8% Fib retracement level of the recent decline from the $13,352 high to $12,834 low. To continue higher, BTC must gain momentum above the $13,200 level.
If there is a daily close above the $13,200 level, the price is likely to accelerate higher above $13,350. The next major resistance on the upside is near the $13,500 level.
Downside Break in BTC?
If bitcoin fails to climb above the $13,150 and $13,200 resistance levels, there could be a fresh decline. The first major support is near the 100 hourly SMA at $13,000.
The main support is near the trend line at $12,900, below which the bulls might even struggle to protect the $12,800 support level in the coming sessions.
Technical indicators:
Hourly MACD – The MACD is slowly gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level, with a positive angle.
Major Support Levels – $13,000, followed by $12,900.
Major Resistance Levels – $13,150, $13,200 and $13,500.
Ethereum traded to a new monthly high at $422 before correcting lower against the US Dollar. ETH price is trading well above the 100 SMA (H4) and it is likely to resume its upside above $422.
- ETH price is trading in a strong uptrend above the $400 support against the US Dollar.
- The price is trading well above the $380 pivot level and the 100 simple moving average (4-hours).
- There was a break above a contracting triangle with resistance near $412 on the 4-hours chart of ETH/USD (data feed via Kraken).
- The pair is likely to rally above $422 and $425 as long as it is trading above the $400 handle.
Ethereum Price is Gaining Momentum
This past week, Ethereum started a strong increase above the $365 resistance after bitcoin’s rally against the US Dollar. ETH price broke the $380 and $400 resistance levels to move into a bullish zone.
The upward move was such that the price even spiked above the $420 resistance and settled well above the 100 simple moving average (4-hours). A new monthly high was formed near $422 before ether price started a downside correction.
There was a break below the $410 support, but the price remained well bid above the $400 support. A low is formed near $402 and the price is currently rising. It broke the 50% Fib retracement level of the recent decline from the $422 high to $402 low.
Source: ETHUSD on TradingView.com
Moreover, there was a break above a contracting triangle with resistance near $412 on the 4-hours chart of ETH/USD. The pair is now trading nicely above the $415 level, plus the 61.8% Fib retracement level of the recent decline from the $422 high to $402 low.
The current price action is positive and it seems like ether is aiming a fresh high above the $420 and $422 resistance levels. The next key resistance is near the $435 level, above which it could rally towards the $450 resistance zone.
Downside Correction in Ether (ETH)?
If Ethereum fails to clear the $420 and $422 resistance levels, it might start a fresh downside correction. An initial support on the downside is near the $410 level.
The main support is forming near the $400 level. Any further losses could lead the price towards the $380 support level and the 100 simple moving average (4-hours).
Technical Indicators
4 hours MACD – The MACD for ETH/USD is about to move back into the bullish zone.
4 hours RSI – The RSI for ETH/USD is still well above the 60 level.
Major Support Level – $400
Major Resistance Level – $422
Bitcoin price is trading nicely above the $13,000 resistance zone against the US Dollar. BTC is showing positive signs and likely gearing for more upsides above $13,200 and $13,500.
- Bitcoin successfully cleared the $12,800 and $13,000 resistance levels.
- The price is now trading nicely above the $13,000 handle and the 100 simple moving average (4-hours).
- There is a major bullish trend line forming with support near $13,000 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to rise above the $13,200 and $13,250 resistance levels.
Bitcoin Price Aims New High
This past week, bitcoin started a strong increase above the $12,000 and $12,500 resistance levels against the US Dollar. The BTC/USD pair even surged above the $13,000 level and settled nicely above the 100 simple moving average (4-hours).
It traded to a new monthly high at $13,250 before starting a short-term downside correction. There was a break below the $13,000 level, but the price remained well bid above the $12,650 support zone.
A low was formed near $12,740 before the price started a fresh increase. There was a break above the $13,000 resistance level, plus the price settled above the 50% Fib retracement level of the recent decline from the $13,250 swing high to $12,740 low.
Source: BTCUSD on TradingView.com
The price is now approaching the $13,200 resistance level. It seems like there is a major bullish trend line forming with support near $13,000 on the 4-hours chart of the BTC/USD pair.
On the upside, the price is facing a strong resistance near the $13,200 and $13,220 levels. If there is a clear break above $13,200, the bulls are likely to aim a new monthly high and the price could test the $13,500 level. Any further gains could open the doors for a rise towards the $14,000 resistance.
Downsides Could Be Limited in BTC
If bitcoin fails to clear the $13,200 resistance, it could correct lower. An initial support is near the trend line zone and the $13,000 level.
A downside break below the $13,000 and $12,950 support levels could push the price towards the $12,740 low. The next major support is near the $12,650 level, below which the price might test the $12,500 level.
Technical indicators
4 hours MACD – The MACD for BTC/USD is likely to move back into the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is still well above the 70 level.
Major Support Level – $13,000
Major Resistance Level – $13,200
After a strong rally towards USD 13,250, bitcoin price started a short-term downside correction. However, BTC remained well bid above the USD 12,700 zone. The price is currently (13:00 UTC) rising and it might accelerate gains once it settles above the USD 13,000 resistance.
Similarly, most major altcoins are trading in a positive zone and likely to continue higher, including ethereum, XRP,
After a strong rally towards USD 13,250, bitcoin price started a short-term downside correction. However, BTC remained well bid above the USD 12,700 zone. The price is currently (13:00 UTC) rising and it might accelerate gains once it settles above the USD 13,000 resistance.
Similarly, most major altcoins are trading in a positive zone and likely to continue higher, including ethereum, XRP,
Chainlink (LINK) started a strong rally after a major correction towards the $9.80 level. The price is up over 20% and it is likely to continue higher above the $12.50 resistance.
- Chainlink token price is surging and it recently broke the $12.00 resistance against the US dollar.
- The price is still trading well above $11.80 and the 100 simple moving average (4-hours).
- There was a break above a crucial declining channel with resistance near $11.00 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
- The pair is consolidating gains, but it is likely to continue higher above the $12.50 resistance level.
Chainlink (LINK) Price Turns Green
After a major downside correction (as discussed in the previous analysis), chainlink (LINK) found support near the $9.80 level. A low was formed near $9.79 before the price started a strong upward move.
Bitcoin and ether gained traction in the past few sessions, resulting in a strong rally in altcoins such as litecoin, ripple, LINK, and bitcoin cash. LINK gained over 20% and it broke many hurdles near $10.00 and $11.00.
The recent increase was initiated after there was a break above a crucial declining channel with resistance near $11.00 on the 4-hours chart of the LINK/USD pair. The pair broke the main $11.50 resistance and settled above the 100 simple moving average (4-hours).
Source: LINKUSD on TradingView.com
It surged above the $12.00 resistance and traded to a new monthly high near the $12.46 level. The price is currently correcting lower and trading below $12.20. There was a test of the 23.6% Fib retracement level of the recent rally from the $9.79 low to $12.46 high.
The next major support is near the $11.85 and $11.65 levels, below which the bears might aim a test of the 50% Fib retracement level of the recent rally from the $9.79 low to $12.46 high.
On the upside, an initial resistance is near the $12.20 level. The first major hurdle is near the $12.50 level, above which the price could rally towards the $13.20 level.
Downside Correction?
If chainlink’s price starts a downside correction below the $11.80 support, there are chances of an extended decline in the coming sessions.
The next major support is near the $11.20 level, below which the bears are likely to aim a test of the 100 simple moving average (4-hours) at $10.60 in the coming days.
Technical Indicators
4-hours MACD – The MACD for LINK/USD is now gaining pace in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is now well above the 65 level.
Major Support Levels – $11.80, $11.65 and $11.20.
Major Resistance Levels – $12.20, $12.50 and $13.20.
Ethereum surged over 10% and it settled nicely above the $400 resistance against the US Dollar. ETH price is consolidating gains and it seems like it could rally further above $420.
- Ethereum gained bullish momentum above the $400 and $410 resistance levels.
- The price traded to a new monthly high at $422 and settled above the 100 hourly simple moving average.
- There is a major bullish trend line forming with support near $411 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is likely to surge above $420 unless it starts an extended correction towards $400.
Ethereum Price Holding Uptrend Support
Ethereum gained a strong bullish momentum above the $400 resistance level. ETH price even broke the $410 resistance level and settled well above the 100 hourly simple moving average.
The upward move such that the price even spiked above the $420 resistance. A new monthly high was formed near the $422 level before the price started a downside correction. Ether corrected lower below the $415 level, plus the 23.6% Fib retracement level of the recent surge from the $392 swing low to $422 high.
However, the price is trading nicely above the $410 support level. There is also a major bullish trend line forming with support near $411 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
If there is a break below the trend line support, the price could correct lower towards the $406 support. It is close to the 50% Fib retracement level of the recent surge from the $392 swing low to $422 high.
Conversely, ether price is likely to continue higher above the $415 and $420 resistance levels. A clear break above the $422 high might open the doors for a steady increase towards the $430 and $435 levels in the near term.
Dips Likely Supported in ETH
If Ethereum fails to clear the $420 resistance level, it might continue to correct lower. The first major support is near the trend line and $410.
A downside break below the $410 support level could lead the price towards the $405-406 support zone. The main support is now forming near the $400 level (the recent breakout zone).
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving in the bearish zone.
Hourly RSI – The RSI for ETH/USD is still well above the 50 level.
Major Support Level – $410
Major Resistance Level – $420
Yesterday, we saw a sharp rise in bitcoin price above the USD 12,500 and USD 13,000 resistance levels. BTC even spiked towards USD 13,250 before starting a downside correction. The price is currently (05:00 UTC) consolidating gains, with many supports such as USD 12,800 and USD 12,650.
Also, most major altcoins rallied and followed a strong bullish path, including ethereum, XRP, litecoin, EOS,
Bitcoin price extended its rise and traded to a new monthly high near $13,200 against the US Dollar. BTC is currently consolidating gains and dips are likely to remain attractive.
- Bitcoin is trading nicely above the $12,650 and $12,750 support levels.
- The price is attempting a fresh break above $13,000 and it is well above the 100 hourly simple moving average.
- There was a break below a major bullish trend line with support near $13,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely to remain well bid if it dips towards the $12,750 and $12,650 support levels.
Bitcoin Price Consolidating Near $13K
Bitcoin price climbed higher above the $13,000 resistance, but it seems to be struggling near the $13,200 level. A swing high was formed near $13,191 before BTC price started a downside correction.
There was a break below the $13,000 level, but the price remained well above the 100 hourly simple moving average. More importantly, there was a break below a major bullish trend line with support near $13,000 on the hourly chart of the BTC/USD pair.
The pair also spiked below the 50% Fib retracement level of the upward move from the $12,684 low to $13,191 high. However, the bulls are defending the $12,850 zone and the price is still well above the $12,650 and $12,750 support levels.
Source: BTCUSD on TradingView.com
The 61.8% Fib retracement level of the upward move from the $12,684 low to $13,191 high is also near the $12,887 to act as an immediate support. The price is currently attempting a fresh break above $13,000. If the bulls succeed, the price is likely to revisit the $13,200 resistance.
A clear break above the recent high and $13,200 could open the doors for more upsides may be towards the $13,650 zone in the near term.
More Downsides in BTC?
If bitcoin fails to climb above the $13,000 and $13,200 resistance levels, there could be an extended downside correction below the $12,850 level.
The next major support is near the $12,750 level, below which the bulls are likely to defend the main $12,650 support level in the coming sessions.
Technical indicators:
Hourly MACD – The MACD is likely to move back into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is still well above the 50 level, with a positive angle.
Major Support Levels – $12,850, followed by $12,650.
Major Resistance Levels – $13,000, $13,200 and $13,500.
Bitcoin price corrected from the USD 13,250 zone, but it remained well bid above the USD 12,650 level. BTC is currently rising (13:00 UTC) and it might continue to rise above USD 13,000 and USD 13,100. The main hurdle on the upside is near USD 13,250, followed by USD 13,400.
After bitcoin rally, most major altcoins started a strong upward move, including ethereum, XRP, litecoin, EOS, XLM, LINK,
- Litecoin started a strong upward move from the $41.50 support zone against the US Dollar.
- The price is now trading nicely above the $50.00 level and the 100-day simple moving average.
- There was a break above a crucial bearish trend line with resistance near $48.90 on the daily chart of the LTC/USD pair (data feed from Kraken).
- The bulls seem to be aiming a larger upward move towards the $60.00 and $65.00 levels.
Litecoin price is gaining momentum above $55.00 against the US Dollar. LTC is likely to continue higher towards $60.00 or $65.00 as long as it is above the 100-day SMA.
Litecoin Price is Forming Strong Uptrend
Recently, the crypto market gained traction, and there was a strong increase in bitcoin, Ethereum, ripple and litecoin against the US Dollar. Earlier, LTC formed a strong support above the $41.50 on the daily timeframe before staring the current increase.
There was a clear break above the $48.00 and $50.00 resistance levels. There was also a break above a crucial bearish trend line with resistance near $48.90 on the daily chart of the LTC/USD pair
It opened the doors for more upsides above the $52.00 level and the 100-day simple moving average. Litecoin even climbed above the $55.00 level, and it is now testing the 50% Fib retracement level of the downward move from the $69.02 high to $41.68 low.
Source: LTCUSD on TradingView.com
The next major resistance is near the $58.80 level. It is close to the 61.8% Fib retracement level of the downward move from the $69.02 high to $41.68 low. The next key resistance is near the $60.00 level, above which the price is likely to surge towards the $65.00 and $68.00 levels in the near term.
Dips Likely Supported in LTC
If litecoin fails to continue above the $56.00 resistance or the $58.80 zone, there are chances of a downside correction. On the downside, the first major support is near the $52.00 level.
The main support is now forming near the $50.00 level and the 100-day simple moving average. Any further losses might change the trend and the price might dive towards $45.00 or even $41.50 in the coming days.
Technical indicators:
4-hours MACD – The MACD is showing positive signs in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently rising and it is well above the 60 level.
Major Support Levels – $52.00 followed by $50.00.
Major Resistance Levels – $58.80 and $60.00.
Ethereum surged over 5% and it even spiked above the $400 resistance against the US Dollar. ETH price is struggling to clear the $400 resistance, but is remains well supported.
- Ethereum started a strong upward move above the $385 and $392 resistance levels.
- The price traded to a new monthly high at $402 and it settled above the 100 hourly simple moving average.
- There is a key connecting bullish trend line forming with support near $392 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could correct a few points, but there are many important supports at $388 and $385.
Ethereum Price Turns Green
Ethereum followed bitcoin’s rally and started a strong rally above the $380 resistance. ETH price broke the $385 and $392 resistance levels to move further into a positive zone.
The upward move was such that ether price even spiked above the $400 resistance. A new monthly high was formed near $402 and the price is now trading well above the 100 hourly simple moving average.
After a rejection above the $400 level, there was a sharp downside correction. The price broke the $395 level, and the 23.6% Fib retracement level of the recent rally from the $376 swing low to $402 high. The price even tested the $390 support level.
Source: ETHUSD on TradingView.com
It seems like there is a key connecting bullish trend line forming with support near $392 on the hourly chart of ETH/USD. The next major support is near the $390 level since it is close to the 50% Fib retracement level of the recent rally from the $376 swing low to $402 high.
On the upside, the $400 level is a massive resistance for the bulls. The next immediate resistance is near the $402 swing high, above which ether is likely to climb higher towards the $412 level. A clear break above the $412 resistance could open the doors for a test of $420.
Dips Likely Supported in ETH
If Ethereum fails to clear the $400 resistance level, it might continue to correct lower. The first major support is near the trend line, followed by $390.
A downside break below the $390 support level could lead the price towards the $385 support. The main support is near the $382 level (the recent breakout zone).
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving in the bearish zone.
Hourly RSI – The RSI for ETH/USD is still well above the 50 level.
Major Support Level – $390
Major Resistance Level – $400
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,
Bitcoin price rallied more than 5%% and it even broke the $13,000 resistance against the US Dollar. BTC is now correcting gains, but there are key supports near $12,500.
- Bitcoin gained bullish momentum and it rallied above the $12,500 and $13,000 resistance levels.
- The price traded to a new monthly high at $13,243 and it is well above the 100 hourly simple moving average.
- There is a key bullish trend line forming with support near $12,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely to resume its upward move as long as it is above $12,650 and $12,500.
Bitcoin Price Rallies Above $13K
Bitcoin price extended its rise and broke many hurdles near the $12,500 level. BTC even surged above the $13,000 resistance level and settled well above the 100 hourly simple moving average.
A new monthly high is formed near the $13,243 level before the price started a sharp downside correction. It declined more than $500 and broke the $13,000 level. There was also a break below the 23.6% Fib retracement level of the recent rally from the $12,155 low to $13,243 high.
However, the price is holding a couple of important support near $12,700 and $12,650. There is also a key bullish trend line forming with support near $12,650 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
The trend line is close to the 50% Fib retracement level of the recent rally from the $12,155 low to $13,243 high. If bitcoin stays above the trend line support, it is likely to resume its upward move above the $12,850 and $13,000 levels.
The next key resistance is near the $13,250 level. A clear break above the recent high and $13,250 could open the doors for a test of the $13,650 zone in the coming sessions.
More Downsides in BTC?
If bitcoin fails to stay above the trend line support and $12,650, it could extend its downside correction. The next major support is near the $12,500 level.
Any further losses could start a larger degree downside correction may be towards the $12,000 support or the 100 hourly simple moving average.
Technical indicators:
Hourly MACD – The MACD is slowly losing momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is still well above the 50 level, with a minor bearish angle.
Major Support Levels – $12,650, followed by $12,500.
Major Resistance Levels – $12,850, $13,000 and $13,250.
Bitcoin price settled above the USD 12,000 level and it even surged above the USD 12,400 level to set a new monthly high. The price is currently (13:10 UTC) trading near USD 12,400, with many supports such as USD 12,150 and USD 12,050.
After BTC’s rally, most major altcoins started increasing too, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is
Cardano’s price is holding the $0.1000 support level and recovering higher. However, ADA must surpass $0.1085 and $0.1100 to start a fresh rally in the near term.
- ADA is facing a strong resistance near $0.1065 and $0.1085 against the US dollar.
- The price is trading nicely above the $0.1000 support and the 100 simple moving average (4-hours).
- There is a major bearish trend line forming with resistance near $0.1100 on the 4-hours chart of the ADA/USD pair (data source from Bitfinex).
- The pair is likely to start a fresh rally if there is a clear break above $0.1085 and $0.1100.
Cardano (ADA) is Facing Hurdles
Recently, cardano’s price struggled to gain momentum (unlike bitcoin) above $0.1100 and declined sharply. ADA broke the $0.1065 and $0.1050 support levels.
The bulls were able to protect the $0.1000 support and there is no proper close below the 100 simple moving average (4-hours). A low is formed near $0.1009 and the price is currently correcting higher.
There was a break above the $0.1035 level, plus the 23.6% Fib retracement level of the recent decline from the $0.1105 high to $0.1009 low. An initial resistance is near the $0.1060 and $0.1065 levels.
Source: ADAUSD on TradingView.com
The 50% Fib retracement level of the recent decline from the $0.1105 high to $0.1009 low is also near the $0.1060 level to act as a hurdle. The first major resistance is near the $0.1085 level. More importantly, there is a major bearish trend line forming with resistance near $0.1100 on the 4-hours chart of the ADA/USD pair.
To start a strong increase, cardano must clear the $0.1085 and $0.1100 resistance levels. The next key resistance is near the $0.1200 level, above which the bulls might aim a test of $0.1250.
Dips Supported?
If cardano’s price starts a downside correction, it is likely to find support near $0.1030 and the 100 simple moving average (4-hours).
The main support is still near the $0.1005 and $0.1000 levels (a multi-touch zone). If there is a downside break below $0.1005 and $0.1000, the price might start a strong decline. The next key support is near the $0.0900 level.
Technical Indicators
Daily MACD – The MACD for ADA/USD is struggling to move into the bullish zone.
Daily RSI (Relative Strength Index) – The RSI for ADA/USD is currently recovering, but it is still below the 50 level.
Major Support Levels – $0.1030, $0.1005 and $0.1000.
Major Resistance Levels – $0.1065, $0.1085 and $0.1100.
Ethereum is gaining bullish momentum above $375 against the US Dollar. ETH price is showing positive signs and it might even climb above the $385 resistance.
- Ethereum started a fresh upward move after forming a support base near $368.
- The price is now trading well above the $375 level and the 100 hourly simple moving average.
- There was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could correct a few points, but there are high chances of more upsides above $385.
Ethereum Price is Gaining Traction
Ethereum started a decent upward move after it formed a strong support base above the $365 level. ETH price broke the $372 pivot level to start the current recovery wave.
The bulls gained strength, resulting in a push above the $375 resistance. Moreover, there was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH/USD.
Ether price surpassed the 50% Fib retracement level of the downward move from the $385 swing high to $365 swing low. It is now trading well above the $375 level and the 100 hourly simple moving average.
Source: ETHUSD on TradingView.com
The price is also trading above the 76.4% Fib retracement level of the downward move from the $385 swing high to $365 swing low. A high is formed near $382 and the price is clearly gaining momentum. The next immediate resistance is near the $385 swing high, above which ether is likely to accelerate higher (similar to bitcoin).
The next major resistance is near the $392 level. A clear break above the $392 resistance could open the doors for a test of the $400 barrier in the coming sessions.
Downside Break in ETH?
If Ethereum fails to clear the $385 resistance levels, it might start a short-term downside correction. An initial support is near the $378 zone.
The main support is near the broken trend line, $375, and the 100 hourly simple moving average. If ether fails to stay above $375, it could retest the $368 and $365 support levels.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is well above the 50 level.
Major Support Level – $375
Major Resistance Level – $385
Bitcoin price remained in a positive zone and it settled above the USD 11,800 resistance level. BTC gained bullish momentum and surged above the USD 12,000 resistance. There was also a break above the USD 12,200 level and the price is currently (05:00 UTC) consolidating gains.
Besides, most major altcoins are showing early signs of a fresh increase, including ethereum, XRP, litecoin, EOS, XLM,
Bitcoin price is up over 2% and it broke the $11,800 and $12,000 resistance levels against the US Dollar. BTC is now trading above $12,000, with high chances of more upsides.
- Bitcoin remained in a positive zone and it cleared the $11,800 and $12,000 resistance levels.
- The price is currently testing the $12,150 zone and it is well above the 100 hourly simple moving average.
- There is a major bullish trend line forming with support near $11,980 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely to accelerate higher above $12,100 and $12,200 in the near term.
Bitcoin Price is Gaining Momentum
Bitcoin price gained bullish momentum after a successful close above the $11,560 resistance. BTC even broke the $11,800 resistance and settled well above the 100 hourly simple moving average.
As a result, the bulls gained strength and they were able to push the price above the $12,000 resistance. A new weekly high is formed near $12,160 and the price is currently showing a lot of positive signs.
An initial support for bitcoin is near the $12,050 level. It is close to the 23.6% Fib retracement level of the recent rise from the $11,870 low to $12,158 high. There is also a major bullish trend line forming with support near $11,980 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
The trend line is close to the 50% Fib retracement level of the recent rise from the $11,870 low to $12,072 high. On the upside, the $12,075 and $12,100 levels are initial barriers for the bulls.
The first major resistance is near the $12,200 level. A successful close above the $12,200 level could open the doors for a decent increase towards the $12,500 resistance level.
Downside Correction in BTC?
If bitcoin starts a downside correction, it is likely to find bids near the $12,050 and $12,000 levels. If there is a downside break below the trend line support and a close below $12,000, there could be an extended downside correction.
The next major support is near the $11,880 level, followed by the key $11,800 support level (the recent breakout zone).
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well above the 65 level, with a positive angle.
Major Support Levels – $12,050, followed by $12,000.
Major Resistance Levels – $12,150, $11,200 and $12,500.
