Bitcoin and Altcoins Target Fresh Monthly Highs, Ethereum Rallies

Bitcoin price managed to recover above the USD 11,500 resistance level. BTC followed a bullish path and climbed above USD 11,800. It is currently (08:30 UTC) consolidating gains and it seems like the bulls are aiming a strong upward move above the USD 12,000 resistance in the coming sessions. On the other hand, ethereum started a sharp rally and ETH surged over 10% to trade above USD 425. Other

Tron (TRX) Rallies 15% And Showing Early Signs of A Strong Uptrend

Tron price rallied over 15% and it surpassed the key $0.0220 resistance zone against the US Dollar. TRX could correct lower in the short term, but the price action suggests more gains.

  • Tron price is gaining bullish momentum above the $0.0220 resistance against the US dollar.
  • The price traded to a new weekly high at $0.0243 and it is currently correcting lower.
  • There is a crucial bullish trend line forming with support near $0.0210 on the 4-hours chart of the TRX/USD pair (data source from Bitfinex).
  • The pair is likely to continue higher towards $0.0250 or even $0.0265 as long as it is above $0.0218.

Tron Price Starts Fresh Increase

After forming a strong support base above $0.0200, tron price started a fresh increase against the US Dollar. TRX broke a couple of important resistances near $0.0218 to move into a positive zone.

The upward move gained strength above the $0.0220 level and the 100 simple moving average (4-hours). It jumped over 15% and traded to a new weekly high at $0.0243. At the moment, the price is consolidating gains and trading near the $0.0232 level.

An initial support is near the $0.0230 level. It is close to the 23.6% Fib retracement level of the recent rally from the $0.0190 low to $0.0243 high. The first major support on the downside is near the $0.0220 and $0.0218 levels.

Tron (TRX)

Tron (TRX) price breaks $0.024. Source: TradingView.com

The 50% Fib retracement level of the recent rally from the $0.0190 low to $0.0243 high is also near the $0.0216 level to act as a strong support. On the upside, the $0.0240 level is an immediate hurdle for the bulls. A successful close above the $0.0240 resistance level could open the doors for a larger rally towards the $0.0250 level or even $0.0265 in the coming sessions.

Dips Likely to be Limited in TRX

If TRX price corrects lower, it is likely to remain supported near the $0.0200 pivot level. The next major support is near the $0.0218 level (the recent breakout zone).

There is also a crucial bullish trend line forming with support near $0.0210 on the 4-hours chart of the TRX/USD pair. Any further losses may perhaps push the price back towards the $0.0200 support.

Technical Indicators

4-hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for TRX/USD is rising and it is well above the 70 level.

Major Support Levels – $0.0230, $0.0220 and $0.0218.

Major Resistance Levels – $0.0240, $0.0250 and $0.0265.

Ethereum Price Soars To New 2-Year High: Uptrend Isn’t Over Yet

Ethereum climbed over 8% and it broke the main $400 barrier against the US Dollar. ETH price traded to a new 2-year high above $430 and it is likely to continue higher.

  • Ethereum is up over 8% and it broke the key $400 and $405 resistance levels.
  • The price traded to a new 2-year high at $432 and settled above the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $405 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher above the $430 and $435 levels in the near term.

Ethereum Price Rallies Above $400

After trading in a range for a few sessions, Ethereum gained strength above the $390 level against the US Dollar. As a result, ETH rallied above the $400 and $405 resistance levels.

It traded to a new 2-year high at $432 and settled well above the 100 hourly simple moving average. Ether price is currently consolidating gains above the $420 level and trading in a range. It is trading above the 23.6% Fib retracement level of the recent rally from the $377 swing low to $432 high.

It seems like there is a short-term contracting triangle forming with resistance near $428 on the hourly chart of ETH/USD. On the downside, the triangle support is near the $420 level.

Ethereum Price

Ethereum price soars above $400. Source: TradingView.com

The next major support is near the $405 level or the 50% Fib retracement level of the recent rally from the $377 swing low to $432 high. If Ethereum remains stable the $420 support, it could start a fresh rally above the $428 and $430 resistance levels.

The next major resistance is near the $435 level, above which ether is likely to continue higher towards the $450 level in the near term.

Dips Likely To Be Limited in ETH

Ethereum could correct lower if there is a downside break below the $420 support level. The first major support is near the $405 level.

The main support is now forming near the $400 level (the recent breakout zone). It is also close to the 61.8% Fib retracement level of the recent rally from the $377 swing low to $432 high.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is showing many positive signs in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now well above the 70 level.

Major Support Level – $420

Major Resistance Level – $430

Ethereum Price Soars To New 2-Year High: Uptrend Isn’t Over Yet

Ethereum climbed over 8% and it broke the main $400 barrier against the US Dollar. ETH price traded to a new 2-year high above $430 and it is likely to continue higher.

  • Ethereum is up over 8% and it broke the key $400 and $405 resistance levels.
  • The price traded to a new 2-year high at $432 and settled above the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $405 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher above the $430 and $435 levels in the near term.

Ethereum Price Rallies Above $400

After trading in a range for a few sessions, Ethereum gained strength above the $390 level against the US Dollar. As a result, ETH rallied above the $400 and $405 resistance levels.

It traded to a new 2-year high at $432 and settled well above the 100 hourly simple moving average. Ether price is currently consolidating gains above the $420 level and trading in a range. It is trading above the 23.6% Fib retracement level of the recent rally from the $377 swing low to $432 high.

It seems like there is a short-term contracting triangle forming with resistance near $428 on the hourly chart of ETH/USD. On the downside, the triangle support is near the $420 level.

Ethereum Price

Ethereum price soars above $400. Source: TradingView.com

The next major support is near the $405 level or the 50% Fib retracement level of the recent rally from the $377 swing low to $432 high. If Ethereum remains stable the $420 support, it could start a fresh rally above the $428 and $430 resistance levels.

The next major resistance is near the $435 level, above which ether is likely to continue higher towards the $450 level in the near term.

Dips Likely To Be Limited in ETH

Ethereum could correct lower if there is a downside break below the $420 support level. The first major support is near the $405 level.

The main support is now forming near the $400 level (the recent breakout zone). It is also close to the 61.8% Fib retracement level of the recent rally from the $377 swing low to $432 high.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is showing many positive signs in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now well above the 70 level.

Major Support Level – $420

Major Resistance Level – $430

Bitcoin Price Breaks 100 SMA: Here’s Why It Could Rally 5%-10%

Bitcoin price remained well bid above $11,400 and it broke the key $11,600 barrier against the US Dollar. BTC is now trading above the 100 hourly SMA and it could continue to grind higher.

  • Bitcoin is back in a positive zone above the $11,500 and $11,600 resistance levels.
  • The price settled nicely above the 100 hourly SMA, opening the doors for a push to $12,000.
  • There was a break above a key bearish trend line with resistance near $11,560 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could gain 5%-10% as long as it is above the 100 hourly simple moving average.

Bitcoin Price is Gaining Momentum

Yesterday, we discussed the importance of the 100 hourly simple moving average and $11,600 for the next bitcoin rally against the US Dollar. BTC remained well bid above the $11,400 level and it managed to settle above $11,500.

As a result, there was a crucial upside break above the $11,600 resistance and the 100 hourly simple moving average. There was also a break above a key bearish trend line with resistance near $11,560 on the hourly chart of the BTC/USD pair.

The pair even climbed above the $11,800 level and traded as high as $11,852. It is currently correcting gains and trading below $11,800. Bitcoin tested the 23.6% Fib retracement level of the recent upward move from the $11,272 low to $11,852 high.

Bitcoin Price

Bitcoin price trades above $11,650. Source: TradingView.com

On the downside, there is a strong support forming near the $11,650 level and the 100 hourly SMA. The next major support is near the $11,550 level or the 50% Fib retracement level of the recent upward move from the $11,272 low to $11,852 high.

On the upside, there is a short-term resistance near the $11,850 level. A successful close above the $11,850 level might open the doors for a push towards $12,000 or even $12,200 in the near term.

Another Failure in BTC?

If bitcoin fails to clear the $11,850 resistance or the $12,000 barrier, there could be a downside correction. The main support is now forming near the $11,550 level.

If there is a downside break below the $11,550 support, the price could extend its decline towards the $11,200 support zone.

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now back above the 50 level.

Major Support Levels – $11,650, followed by $11,550.

Major Resistance Levels – $11,850, $12,000 and $12,200.

Bitcoin Struggling Near USD 11,500, Chainlink, Ethereum Climb

Bitcoin price remained well bid above the USD 11,100 and USD 11,200 levels. Recently, BTC recovered above USD 11,350, but it is struggling to gain strength above USD 11,500. The price is currently (08:30 UTC) consolidating near USD 11,500 and it might correct lower again. Similarly, many major altcoins are stuck below key hurdles, including ethereum, XRP, litecoin, bitcoin cash, EOS, TRX, XLM, and

Ethereum Price Regains Bullish Momentum, But $400 Still A Key Hurdle

Ethereum recovered nicely above the $380 and $390 levels against the US Dollar. ETH price must surpass the $400 barrier for another leg higher in the near term.

  • Ethereum is up over 5% and it broke the key $380 and $390 resistance levels.
  • The price traded close to the $398 level and it settled above the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $390 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct a few points, but the previous resistance near $388 might provide support.

Ethereum Price Rallies Over 5%

After diving towards the $365 support zone, Ethereum found a strong buying interest against the US Dollar. A swing low was formed near $364 before the price started a fresh increase.

There was a break above the $375 and $380 resistance levels. There was also a break above a major bearish trend line with resistance near $390 on the hourly chart of ETH/USD. The pair climbed above the $390 resistance and settled well above the 100 hourly simple moving average.

A new intraday high is formed near $398 and the price is currently correcting lower. There was a slight decline below the $395 level. The price is now trading near the broken trend line and the $392 zone.

Ethereum Price

Ethereum price trades above $390. Source: TradingView.com

The 23.6% Fib retracement level of the recent upward move from the $364 swing low to $398 high is also near $390 level. The first major support is near the $388 level and the 100 hourly simple moving average.

If ether price stays above the $388 and $390 support levels, it could make another attempt to clear the $398 resistance. The main hurdle is still near the $400 level, above which the price is likely to rise towards the $412 and $420 levels in the coming sessions.

Dips Likely To Be Supported in ETH

Ethereum is likely to find a decent buying interest near the $390 and $388 levels. The main support is now forming near the $380 level.

The 50% Fib retracement level of the recent upward move from the $364 swing low to $398 high is also near the $380 level to provide a strong support in the short-term.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now well above the 50 level.

Major Support Level – $380

Major Resistance Level – $398

Chainlink (LINK) Soars 30% To New ATH, Dethrones Bitcoin Cash Spot

Chainlink (LINK) rallied over 30% and it traded close to the $17.000 level against the US Dollar. It dethroned bitcoin cash and moved to the 5th spot in terms of the market cap.

  • Chainlink token price is gaining momentum and it broke the $16.500 resistance against the US dollar.
  • The market cap jumped sharply and LINK moved to the 5th spot to overtake bitcoin cash.
  • There was a break above a key bearish trend line with resistance near $13.300 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
  • The pair might correct a few points, but dips are likely to find buyers near $16.000 and $15.800.

Chainlink (LINK) Jumps To The 5th Spot

In the last technical analysis, we discussed chances of a surge above $15.000 in chainlink (LINK) against the US Dollar. LINK did gain momentum above the $15.000 and surged over 30% in the past three sessions.

The upward move was strong as the price broke the $16.000 resistance and settled well above the 100 simple moving average (4-hours). During the rise, there was a break above a key bearish trend line with resistance near $13.300 on the 4-hours chart of the LINK/USD pair.

More importantly, the market cap of LINK overtook bitcoin cash and it moved to the 5th spot. A new all-time high is formed near $16.933 and the price is currently consolidating gains.

Chainlink (LINK)

LINK price above $16.500. Source: TradingView.com

An initial support on the downside is near the $16.200 level. The first major support is likely forming near the $15.80 level. It is close to the 23.6% Fib retracement level of the recent surge from the $12.192 swing low to $16.933 high.

The main support is now near the $14.500 level (the recent breakout zone). It coincides with the 50% Fib retracement level of the recent surge from the $12.192 swing low to $16.933 high.

On the upside, the $17.000 level is a short-term resistance zone. If there are more upsides, there is an open space and the price might even test the $20.000 level in the coming sessions.

Dips Supported

In the short-term, there could be a minor downside correction in LINK price towards the $16.200 support. If there are more losses, the $15.800 support is likely to act as a strong buy zone.

A downside break below the $14.500 could only start a major downward move. The next key support is near the $12.20 level.

Technical Indicators

4-hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is currently well in the overbought zone.

Major Support Levels – $16.200, $15.800 and $14.500.

Major Resistance Levels – $17.000, $18.500 and $20.000.

100 SMA Holds The Key For Next Bitcoin Rally Above $12K: Here’s Why

Bitcoin found support near $11,120 and started an upward move against the US Dollar. However, BTC must break $11,650 and the 100 hourly SMA to start a fresh rally.

  • Bitcoin is slowly recovering from the $11,150 and $11,200 support levels.
  • The price is facing a couple of hurdles near the $11,600 and $11,650 levels.
  • There is a major bearish trend line forming with resistance near $11,620 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair must clear the $11,650 resistance and the 100 hourly simple moving average to start a fresh rally.

Bitcoin Price is Facing Hurdles

Recently, we saw a sharp decline in bitcoin price below the $11,500 support level against the US Dollar. BTC even traded below the $11,200 support level and settled below the 100 hourly simple moving average.

A swing low was formed near $11,130 and the price started a slowly and steady recovery wave. It recovered above the $11,200 and $11,400 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $12,084 high to $11,130 low.

Bitcoin price even climbed above the $11,500 pivot level, but it is facing a strong resistance near $11,650. There is also a major bearish trend line forming with resistance near $11,620 on the hourly chart of the BTC/USD pair.

Bitcoin Price

Bitcoin price trades above $11,200. Source: TradingView.com

The trend line is close to the 100 hourly SMA, which is preventing an upside break above the $11,650 level. The price is also struggling to close above the 50% Fib retracement level of the recent decline from the $12,084 high to $11,130 low.

If there is a successful break above the trend line, the 100 hourly SMA, and $11,650, the price is likely to start a strong rally. The next resistance is near the $11,800 level, above which the bulls are likely to aim more upsides above the $12,000 and $12,050 levels.

Fresh Decline in BTC?

If bitcoin fails to clear the trend line, the 100 hourly SMA, and $11,650, then there are chances of a fresh decline. An initial support is seen near the $11,400 level.

The main support is now near the $11,120 level, below which there is a risk of a sharp decline below the $11,000 support. In the mentioned case, the price could even test $10,500 (as discussed in yesterday’s analysis using the daily chart).

Technical indicators:

Hourly MACD – The MACD is about to move into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently sliding below the 50 level.

Major Support Levels – $11,400, followed by $11,120.

Major Resistance Levels – $11,650, $11,800 and $12,000.

Bitcoin and Altcoins Start Corrective Decrease

As discussed yesterday, bitcoin price started a downside correction below the USD 11,800 level. BTC even broke the key USD 11,500 support level. It is currently (08:30 UTC) down over 2% and it seems like there are chances of more losses towards the USD 11,200 and USD 11,000 levels. Also, many major altcoins broke many key supports to move into a short-term bearish zone, including ethereum, XRP,

Ripple (XRP) Nosedives 8%, Technicals Indicate A Drop To $0.25

Ripple failed to clear the $0.3000 barrier and started a strong decline against the US Dollar. XRP price is down over 8% and it seems like the bears are aiming a test of the $0.2500 support.

  • Ripple is declining and it is now trading well below the $0.3000 level against the US dollar.
  • The price is currently approaching the $0.2750 support and the 100 SMA (H4).
  • There is a key bearish trend line forming with resistance near $0.2980 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could decline further if there is a close below the $0.2750 and $0.2720 support levels.

Ripple Price Is Showing Bearish Signs

After a couple of failed attempts to clear the $0.3000 resistance, ripple started a fresh decline. The price broke the $0.2920 support level to move into a short-term bearish zone.

The bears gained strength and the price declined below the key $0.2850 support levels. The price even traded below the 50% Fib retracement level of the upward move from the $0.2407 low to $0.3210 high.

Moreover, there is a key bearish trend line forming with resistance near $0.2980 on the 4-hours chart of the XRP/USD pair. Ripple price is now trading near the $0.2780 level and the 100 simple moving average (4-hours).

Ripple (XRP)

Ripple (XRP) price trades below $0.2850. Source: TradingView.com

If there is a downside break, the price could continue to move down towards the $0.2720 support. The 61.8% Fib retracement level of the upward move from the $0.2407 low to $0.3210 high is also near the $0.2715 level.

A downside break below the $0.2720 and $0.2700 support levels, the price could continue to move down. The next major support is seen near the $0.2500 level (the last major breakout zone). Ant further losses may perhaps push the price back into a bearish zone.

Reversal in XRP?

If ripple stays above the 100 SMA (H4) or the $0.2720 support zone, the price could start a fresh increase. The first major resistance zone is near the $0.2850 level.

The main hurdle is still near the $0.3000 level and the bearish trend line. A successful close above the $0.3000 level is needed for a strong upward move in the coming sessions.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining strength in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level.

Major Support Levels – $0.2750, $0.2720 and $0.2500.

Major Resistance Levels – $0.2850, $0.2920 and $0.3000.

Daily Chart Suggests Bitcoin At Risk of Extended Correction To $10,500

Bitcoin struggled to clear the $12,000 resistance zone and corrected lower against the US Dollar. BTC’s daily chart suggests the price could extend its decline towards the $10,500 support.

  • Bitcoin topped near the $12,080 level and it is currently correcting gains.
  • The price is trading below the $11,500 support and approaching the next major support.
  • There is a key bullish trend line forming with support near $11,240 on the daily chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start an extended decline towards the $10,500 level if it breaks the trend line support.

Bitcoin Price Correcting Gains

Earlier this month, bitcoin price gained bullish momentum above the $11,00 level against the US Dollar. BTC even broke the $11,500 resistance and settled well above the 100-day simple moving average.

There was a break above the $12,000 level and the price climbed to a new monthly high near $12,100. However, it failed to stay above the $12,000 level and recently started a downside correction. The bears were able to push the price below the $11,800 level.

Bitcoin price traded below the 23.6% Fib retracement level of the upward move from the $9,000 swing low to $12,100 swing high. It is now trading near the $11,300 level. There is also a key bullish trend line forming with support near $11,240 on the daily chart of the BTC/USD pair.

Bitcoin

Bitcoin price trades below $11,500: Source: TradingView.com

If the pair breaks the trend line support, there is a risk of an extended decline. The next major support is near the $11,000. The main support is near the $10,500 level or the 50% Fib retracement level of the upward move from the $9,000 swing low to $12,100 swing high.

Fresh Increase?

If bitcoin price stays above the trend line support or $11,200, it could bounce back. An initial resistance is near the $11,500 level, above which the bulls could gain strength.

The main hurdle is still near the $12,000 barrier, above which the price is likely to start another strong rally in the coming days. In the mentioned case, it could rise towards the $12,400 and $12,500 levels.

Technical indicators:

Daily MACD – The MACD is slowly moving into the bearish zone.

Daily RSI (Relative Strength Index) – The RSI for BTC/USD is now correcting lower towards the 50 level.

Major Support Levels – $11,200 followed by $11,000.

Major Resistance Levels – $11,500, $11,800 and $12,000.

Bitcoin and Altcoins Showing Signs of Downside Correction

Bitcoin price declined sharply after another rejection near USD 12,000. BTC broke the USD 11,800 support, but it found support near USD 11,500. Recently, there was a strong recovery, but the price is still struggling to gain bullish momentum above the USD 12,000 resistance zone. Similarly, most major altcoins are facing key hurdles and showing a few signs of a short-term downside correction,

Ripple (XRP) Signaling Fresh Rally After This Key Technical Breakout

Ripple is forming a strong support base above the $0.2800 level against the US Dollar. XRP price is showing positive signs and it seems like it could rally above the $0.3100 and $0.3200 levels.

  • Ripple is rising again after forming a major support base above $0.2800 against the US dollar.
  • The price is currently trading above the $0.3000 level and the 100 SMA (H4).
  • There was a break above a major bearish trend line with resistance near $0.2990 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could continue to rise towards the main $0.3200 resistance level in the near term.

Ripple Price Is Gaining Momentum

After a substantial downside correction, ripple found support near the $0.2800 level. The price started a fresh and steady increase above the $0.2850 and $0.2920 resistance levels.

The upward move was positive, with a close above the $0.2920 level and the price is now trading well above the 100 simple moving average (4-hours). There was also a break above the 50% Fib retracement level of the downward move from the $0.3200 swing high to $0.2789 swing low.

More importantly, there was a break above a major bearish trend line with resistance near $0.2990 on the 4-hours chart of the XRP/USD pair. The pair is now trading nicely above the $0.3000 level.

Ripple (XRP)

Ripple (XRP) price trades above $0.3000. Source: TradingView.com

An immediate resistance is near the $0.3050 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.3200 swing high to $0.2789 swing low. A successful break above the $0.3050 level could open the doors for more gains above the $0.3120 and $0.3150 levels.

The main hurdle is near the $0.3200 level, above which the bulls are likely to aim a larger rally in the near future towards the $0.3500 and $0.3600 levels.

Downsides Likely To Be Limited in XRP

On the downside, the first major support is near the $0.2920 level. If ripple fails to continue higher above $0.3050, there is a risk of a bearish wave.

The main support is near the $0.2800 level, below which the price may perhaps start a steady decline towards the $0.2650 level in the coming days.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining strength in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 50 level.

Major Support Levels – $0.2950, $0.2920 and $0.2800.

Major Resistance Levels – $0.3050, $0.3120 and $0.3200.

Bitcoin Price Holds Strong Above $11,500: A Strong Case for Upside

Bitcoin bounced back sharply after testing the $11,500 support zone against the US Dollar. BTC is likely to accelerate higher above $12,000 as long as it is above the 100 hourly SMA.

  • Bitcoin is trading well above the $11,800 and $11,500 support levels.
  • The price is facing a couple of hurdles near the $12,000 and $12,080 levels.
  • There was a break above a key bearish trend line with resistance near $11,880 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair must stay above the 100 hourly simple moving average to clear the $12,000 resistance.

Bitcoin Price is Holding Uptrend

After forming a short-term top near $12,080, bitcoin price corrected lower against the US Dollar. BTC broke the $11,800 support level and dived more than $500. It traded close to the $11,500 support area, where the bulls appeared.

A swing low is formed near $11,536 and recently the price bounced back sharply. It climbed back above the $11,800 resistance and the 100 hourly simple moving average. The bulls pushed the price above the 50% Fib retracement level of the sharp decline from the $12,084 high to $11,536 swing low.

Moreover, there was a break above a key bearish trend line with resistance near $11,880 on the hourly chart of the BTC/USD pair. The pair is currently approaching the $11,950 and $12,000 levels.

Bitcoin Price

Bitcoin price trades above $11,800. Source: TradingView.com

The 76.4% Fib retracement level of the sharp decline from the $12,084 high to $11,536 swing low could act as an immediate resistance in the near term at $11,950. A clear break above the $11,950 level could increase the chances of a push above the $12,000 level.

The next resistance is near the $12,080 level, above which the bulls are likely to aim more upsides above the $12,200 and $12,250 levels.

100 SMA Holds The Key For BTC

If bitcoin fails to reclaim the $12,000 resistance, it could correct lower in the short term. A key support seems to be forming near the $11,700 level and the 100 hourly SMA.

If there is a downside break below the $11,700 support and the 100 hourly SMA, the price could retest the $11,500 support zone. Any further gains could lead the price towards $11,200.

Technical indicators:

Hourly MACD – The MACD is slowly moving into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently just above the 50 level.

Major Support Levels – $11,700, followed by $11,500.

Major Resistance Levels – $11,950, $12,000 and $12,080.

Bitcoin Breaks USD 12,000, Altcoins Could Start a Fresh Surge

In the past few sessions, bitcoin mostly traded in a range above the USD 11,500 support. Finally, BTC gained bullish momentum above the USD 11,650 and USD 11,800 resistance levels. More importantly, it broke the USD 12,000 barrier and it is currently (08:30 UTC) consolidating gains. Conversely, most major altcoins are stuck in a range below key hurdles, including ethereum, XRP, litecoin, bitcoin

Technicals Suggest Chainlink (LINK) Could Surge Further Above $15

Chainlink (LINK) rallied close to $14.500 before starting a downside correction against the US Dollar. It is currently holding the $12.500 and it seems to be aligning for more gains above $15.000.

  • Chainlink token price is trading in a strong uptrend above $12.500 and $13.000 against the US dollar.
  • The price is likely to accelerate higher above the $14.000 and $14.200 resistance levels.
  • There is a key rising channel forming with support near $13.050 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
  • The pair might correct a few points, but dips are likely to find buyers near $13.000 and $12.500.

Chainlink (LINK) Remains In Strong Uptrend

In the past few days, there was a steady rise in chainlink (LINK) above the $10.000 and $12.000 resistance levels against the US Dollar. LINK even broke the key $12.50 resistance and settled well above the 100 simple moving average (4-hours).

It traded to a new all-time high near $14.500 and recently corrected lower. There was a break below the $14.000 and $13.200 support levels. The price even corrected lower below the 23.6% Fib retracement level of the upward move from the $9.185 swing low to $14.496 high.

However, the bulls were able to protect the $12.500 support zone. The price also remained stable above the 50% Fib retracement level of the upward move from the $9.185 swing low to $14.496 high.

Chainlink (LINK)

LINK price above $12.500. Source: TradingView.com

It seems like there is a key rising channel forming with support near $13.050 on the 4-hours chart of the LINK/USD pair. On the upside, the price is facing a coupe of hurdles near $14.000 and $14.200. If the bulls gain strength above $14.200, the price could easily clear the $14.500 resistance.

In the mentioned case, the price could accelerate higher towards the $15.000 and $15.200 levels. The next major resistance is seen near the $15.600 level. Any further gains might open the doors for $16.00 in the near term.

Dips Supported

In the short-term, there could be a minor downside correction in LINK price towards the $13.200 support. The first major support is near the $13.000 level.

The main support is near the $12.500 level, below which the price could start an extended decline towards the $11.000 support or even 10.250.

Technical Indicators

4-hours MACD – The MACD for LINK/USD is gaining pace in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is currently correcting lower towards the 55 level.

Major Support Levels – $13.200, $13.000 and $12.500.

Major Resistance Levels – $14.000, $14.500 and $15.000.

Bitcoin Just Broke $12K To Start A Fresh Cycle of Strong Uptrend

Bitcoin is gaining momentum and it recently crossed $12,000 against the US Dollar. BTC is showing positive signs and it is likely to continue higher towards $12,400.

  • Bitcoin is trading in a nice uptrend above the $11,800 and $12,000 levels.
  • The price traded to a new monthly high at $12,084 and it is currently well above the 100 hourly simple moving average.
  • There was a break above a short-term declining channel with resistance near $11,665 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct lower in the short-term, but dips are likely to remain well bid near $11,900 and $11,800.

Bitcoin Price is Gaining Momentum

In the past few sessions, bitcoin price started a fresh increase from the $11,500 support area against the US Dollar. The price gained traction and broke a couple of important hurdles near $11,800.

As a result, the price broke the $12,000 resistance and it settled well above the 100 hourly simple moving average. During the rise, there was a break above a short-term declining channel with resistance near $11,665 on the hourly chart of the BTC/USD pair.

A new monthly high is formed near $12,084 and the price is currently consolidating gains. An initial support on the downside is near the $12,000 level. It is close to the 23.6% Fib retracement level of the recent rally from the $11,536 swing low to $12,084 high.

Bitcoin Price

Bitcoin price trades above $11,200. Source: TradingView.com

The main support on the downside is forming near the $11,900 and $11,800 levels (the recent breakout zone). It is close to the 50% Fib retracement level of the recent rally from the $11,536 swing low to $12,084 high.

On the upside, the $12,050 and $12,100 are initial hurdles for the bulls. A successful break above the $12,100 level could open the doors for a push towards the $12,400 and $12,500 resistance levels in the near term.

Dips Supported in BTC?

If bitcoin starts a downside correction, the bulls are likely to protect dips near the $11,900 level. The first key support is near the $11,800 level, below which the price might continue to move down.

In the mentioned case, the price is likely to continue lower towards the $11,700 level and the 100 hourly SMA, where the bulls are likely to take a stand.

Technical indicators:

Hourly MACD – The MACD is gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 60 level.

Major Support Levels – $11,900, followed by $11,800.

Major Resistance Levels – $12,050, $12,100 and $12,400.

Bitcoin and Altcoins Continue to Fail Near Major Range Highs

Bitcoin price is holding the USD 11,000 and USD 11,050 support levels. BTC is currently (08:30 UTC) trading above USD 11,200, but it is facing many hurdles near USD 11,400 and USD 11,450. A clear break above USD 11,400, followed by a close above USD 11,500 could open the doors for more gains. Similarly, most major altcoins are trading in a broad range below key hurdles, including ethereum, XRP,

Stellar (XLM) is About to See “Liftoff” if It’s Able to Hold One Crucial Level

Stellar (XLM) is trading in a bullish zone above the $0.1000 support zone against the US Dollar. XLM price is likely to accelerate towards $0.1200 or even higher if it stays above the $0.1000 support.

  • There was a sharp downward move from the $0.1168 monthly high against the US dollar.
  • The price found support near the $0.0980 zone and it is currently trading with a bullish angle.
  • There is a major bullish trend line forming with support at $0.1040 on the 4-hours chart of the XLM/USD pair (data source from Coinbase).
  • The pair is likely to continue higher towards $0.1150 and $0.1200 as long as it is above $0.1000.

Stellar (XLM) is Holding Uptrend

This past week, there was a strong rise in bitcoin, Ethereum and ripple. As a result, stellar (XLM) gained pace above the $0.1000 and $0.1050 resistance levels against the US Dollar. The price even spiked above $0.1100 and it traded as high as $0.1168 before starting a downside correction.

The price dived below the $0.1050 support zone, but the bulls were able to defend the $0.1000 and $0.0980 support levels. A swing low is formed near $0.0951 and the price is currently rising.

There was a break above the $0.1050 level and the price settled well above the 100 simple moving average (4-hours). The bulls pushed the price above the 50% Fib retracement level of the downward move from the $0.1168 high to $0.0951 low.

The price is now facing hurdles near the $0.1120 level. It is close to the 76.4% Fib retracement level of the downward move from the $0.1168 high to $0.0951 low.

Stellar (XLM)

Stellar (XLM) price above $0.1050. Source: TradingView.com

It seems like there is a major bullish trend line forming with support at $0.1040 on the 4-hours chart of the XLM/USD pair. On the upside, the bulls need to clear the $0.1120 level for a fresh increase.

A successful break above the $0.1120 resistance could open the doors for more gains towards the $0.1180 and $0.1200 levels in the coming sessions.

Dips Supported in XLM

If XLM price corrects lower, the bulls are likely to protect the $0.1050 level or the bullish trend line. If there is a break below the trend line and $0.1050, the price could extend losses.

The main support is near the $0.1000 level and the 100 simple moving average (4-hours), below which the price might turn bearish in the short-term.

Technical Indicators

4-hours MACD – The MACD for XLM/USD is slowly losing momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for XLM/USD is currently well above the 50 level.

Major Support Levels – $0.1050, $0.1040 and $0.1000.

Major Resistance Levels – $0.1120, $0.1180 and $0.1200.

Ripple (XRP) Struggling Near $0.30: Can Bulls Save the Day?

Ripple is trading with a minor bearish angle below $0.3020 against the US Dollar. XRP price must stay above $0.2850 to start a fresh increase in the near term.

  • Ripple is declining steadily and it even broke the $0.3000 support zone against the US dollar.
  • The price is currently testing the $0.2980 support zone and the 100 hourly SMA.
  • There is a major bullish trend line forming with support near $0.2840 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could struggle to bounce back in the near term if there is a break below the $0.2850 zone.

Ripple Price Testing Key Support

After another rejection above $0.3120, ripple started a steady decline. XRP price broke the $0.3050 and $0.3020 support levels to move into a short-term bearish zone.

The decline was such that the price broke the 50% Fib retracement level of the upward move from the $0.2719 low to $0.3200 swing high. It even traded below the $0.3000 support level and tested the 100 hourly simple moving average.

The 61.8% Fib retracement level of the upward move from the $0.2719 low to $0.3200 swing high is also acting as a decent support. There is also a major bullish trend line forming with support near $0.2840 on the hourly chart of the XRP/USD pair.

Ripple (XRP)

Ripple price below $0.1900. Source: TradingView.com

On the upside, the pair is facing hurdles near the $0.3020 level. The first major resistance is near the $0.3050 level, above which the price might attempt to clear the $0.3120 level. If the bulls succeed, the price could rise towards the main $0.3200 resistance zone.

Downside Break in XRP

The 100 hourly SMA and the $0.2900 zone are major supports for ripple. If the bulls fail to protect the $0.2900 support, the price could continue to move down towards the trend line support.

The $0.2850 zone and the trend line hold the key. If there is a clear break below the trend line support, the bears are likely to take control and the price might decline below the $0.2800 level. The next major support is seen near the $0.2650 level.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is about to move back into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is still well below the 50 level.

Major Support Levels – $0.2900, $0.2850 and $0.2840.

Major Resistance Levels – $0.3020, $0.3050 and $0.3120.

Bitcoin Topside Bias Vulnerable Unless It Surges Past 100 SMA

Bitcoin is struggling to gain bullish momentum above $11,300 against the US Dollar. BTC could extend its decline unless it surges past the 100 hourly SMA.

  • Bitcoin is facing a strong resistance near the $11,300 and $11,400 levels.
  • The price is now trading well below the $11,400 level and the 100 hourly simple moving average.
  • There is a short-term declining channel forming with resistance near $11,230 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to remain well bid near the $11,000 and $10,840 levels in the near term.

Bitcoin Price is Facing Hurdles

In the past few sessions, bitcoin price struggled to gain bullish momentum above the $11,300 and $11,400 levels against the US Dollar. The last swing high was near $11,374 before BTC started a steady decline.

It traded below the $11,200 level and settled well below the 100 hourly simple moving average. The recent low was near $11,035 and the price is currently correcting higher. It surpassed the 23.6% Fib retracement level of the recent decline from the $11,374 high to $11,035 swing low.

The price is currently facing hurdles near the $11,200 level. There is a short-term declining channel forming with resistance near $11,230 on the hourly chart of the BTC/USD pair.

Bitcoin

Bitcoin price trades above $11,200. Source: TradingView.com

Above the channel resistance, the $11,250 is a key hurdle. The 50% Fib retracement level of the recent decline from the $11,374 high to $11,035 swing low is also near the $11,250 level to act as a hurdle. The main hurdle is still near the $11,350 and $11,400 levels.

A successful close above the $11,400 level is needed for a fresh increase since it is close to the 100 hourly simple moving average. In the mentioned case, the price could rally towards the $11,600 and $11,800 levels.

Downside Break in BTC?

If bitcoin fails to clear the channel resistance or the 100 hourly SMA, there is a risk of a sharp decline below the $11,000 support level.

A clear break below the $11,000 support level could lead the price towards the $10,850 support zone. The next major support is near the $10,550 level, where the bulls are likely to take a stand.

Technical indicators:

Hourly MACD – The MACD is slowly moving into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently rising towards the 50 level.

Major Support Levels – $11,000, followed by $10,850.

Major Resistance Levels – $11,250, $11,350 and $11,400.

Bitcoin and Altcoins Signaling Fresh Rally

Bitcoin price is forming a strong support base above the USD 11,000 level. BTC is rising steadily and it is currently (08:30 UTC) trading above USD 11,200. If there is a clear break above USD 11,450, the price might accelerate higher towards the USD 12,000. Similarly, most major altcoins are moving steadily in the bullish zone, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, XLM,

Ripple (XRP) Price and Time: Bulls Likely Eyeing Fresh Monthly High

Ripple is rising and trading in a positive zone above the $0.3000 support against the US Dollar. XRP price is likely to continue higher above $0.3200 and 0.3250 in the near term.

  • Ripple price is showing a lot of bullish signs above the $0.3000 support against the US dollar.
  • The price is likely to accelerate higher and dips remain supported near the $0.2980 level.
  • There are a few bullish trend lines forming with support near $0.3080 and $0.2850 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could correct lower in the short-term, but the bulls are likely to protect $0.2850.

Ripple Price Aiming Fresh Monthly High

After a short-term downside correction, ripple started a fresh increase above $0.3000. The price is following a bullish path and it settled above the $0.3050 level, plus the 100 simple moving average (4-hours).

A high is formed near $0.3200 and the price seems to be facing hurdles near $0.3200. It is testing the 23.6% Fib retracement level of the recent upward move from the $0.2736 swing low to $0.3200 high. On the downside, there are many supports forming near the $0.3000 level.

There are also a few bullish trend lines forming with support near $0.3080 and $0.2850 on the 4-hours chart of the XRP/USD pair. The $0.2980 level is also a major support since it is close to the 50% Fib retracement level of the recent upward move from the $0.2736 swing low to $0.3200 high.

Ripple (XRP)

Ripple (XRP) price trades near $0.2000. Source: TradingView.com

On the upside, there is a strong resistance near the $0.3200 level. A successful close above the $0.3200 resistance could open the doors for more gains above the $0.3220 level. The next major resistance is near the $0.3250 level, above which the price is likely to aim a fresh monthly high.

Downsides Likely To Be Supported in XRP

The first key support for the bulls is near the $0.3000 and $0.2980 levels. If the bulls fail to protect $0.2980, there could be a downside extension.

The main support is near the $0.2850 level, below which the price may perhaps start a steady decline towards the $0.2680 level in the near term.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is slowly gaining strength in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is still well above the 60 level.

Major Support Levels – $0.3050, $0.2980 and $0.2850.

Major Resistance Levels – $0.3200, $0.3250 and $0.3320.

Technicals Suggest Bitcoin Price Needs To Clear $11,500 To Restart Rally

Bitcoin started a fresh increase above the $11,000 level against the US Dollar. BTC must surpass the $11,500 resistance zone to continue higher in the near term.

  • Bitcoin is trading nicely above the $11,000 and $11,200 support levels.
  • The price seems to be facing a major hurdle near the $11,450 and $11,500 resistance levels.
  • There is a key rising channel forming with support near $11,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair must clear the $11,500 resistance area to gain bullish momentum for a move towards $11,800.

Bitcoin Price is Showing Positive Signs

After a sharp downside correction, bitcoin price remained stable above $10,500 against the US Dollar. BTC started a fresh increase and climbed above the $11,000 resistance zone.

The upward move was positive, as the bulls were able to push the price above the $11,200 level and the 100 hourly simple moving average. The price even spiked above the 50% Fib retracement level of the downward move from the $12,115 high to $10,590 swing low.

It seems like there is a key rising channel forming with support near $11,200 on the hourly chart of the BTC/USD pair. The pair is also facing a major hurdle near the $11,450 and $11,500 resistance levels.

Bitcoin Price

Bitcoin price trades above $11,200. Source: TradingView.com

The 61.8% Fib retracement level of the downward move from the $12,115 high to $10,590 swing low is also near the $11,533 level. Therefore, the price must clear the $11,500 resistance zone to continue higher. If the bulls succeed, the price could easily revisit the $11,800 level.

The next major resistance is near the $12,000 level. Any further gains could lead the price towards the $12,200 level in the near term.

Fresh Decline in BTC?

The channel support is seen near the $11,200 level. If there is a downside break below the channel support, bitcoin price might decline further towards the $11,000 support level.

The next main support is near the $10,840 level, below which the bears are likely to push the price towards the crucial $10,500 support zone. An intermediate support could be near the $10,700 level.

Technical indicators:

Hourly MACD – The MACD is slowly struggling to gain pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently just above the 50 level.

Major Support Levels – $11,200, followed by $11,000.

Major Resistance Levels – $11,450, $11,500 and $11,800.

Bitcoin and Altcoins Remain In Uptrend Despite Setbacks

This past week, there was a significant upward move in bitcoin price above the USD 11,000 and USD 11,500 resistance levels. BTC even spiked above USD 12,000 before correcting lower sharply. It is currently (08:30 UTC) trading above the USD 11,000 level and it seems like the bulls are aiming an upward move towards USD 11,500 or USD 11,800. Similarly, most major altcoins are trading in a positive

This Simple Breakout Pattern Could Resend Ethereum Price Above $400

Ethereum dived from the $417 swing high and traded below $350 against the US Dollar. ETH price is currently recovering above $375 and it is likely to climb back above $400.

  • Ethereum started a sharp decline from the $417 high and dived towards the $300 support.
  • The price recovered sharply above $350 and it is now trading above the 100 hourly simple moving average.
  • There is a key contracting triangle forming with resistance near $385 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair seems to be setting up for a fresh bullish break above $390 and $400.

Ethereum Price Is Approaching Next Break

After a strong rally above $350 and $400, Ethereum faced a significant bearish move against the US Dollar. A high was formed near $417 before the price tumbled (similar to bitcoin and ripple) below $400 and $350.

The price even spiked below the $330 support level and the 100 hourly simple moving average. However, it found a strong buying interest near $305 and $300. Ether recovered sharply above the $330 and $350 levels.

There was a break above the $365 and $370 levels. The price is now trading near the $385 resistance zone. It is close to the 50% Fib retracement level of the recent decline from the $416 swing high to $353 swing low. It seems like there is a key contracting triangle forming with resistance near $385 on the hourly chart of ETH/USD.

Ethereum Price

Ethereum price trades above $380. Source: TradingView.com

If ether price breaks the triangle resistance, it could test the $390 resistance. The 61.8% Fib retracement level of the recent decline from the $416 swing high to $353 swing low is also near the $392 level.

A successful break above the triangle resistance and $392 could open the doors for a fresh increase above the $400 level. In the mentioned case, the price is likely to rise towards the $415 and $420 levels in the coming sessions.

Dips Likely To Be Contained in ETH

The triangle support is near the $378 level. If there is a bearish break below the triangle support, Ethereum could test the $365 support.

The next major support is near the $360 level and the 100 hourly SMA, where the bulls are likely to take a strong stand. Any further losses could lead the price towards the $300 handle.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly moving in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now back above the 50 level.

Major Support Level – $365

Major Resistance Level – $392

Technicals Suggest Ripple (XRP) is Setting Up For Another Rally To $0.32

Ripple surged more than 30% this past week to climb above $0.3000 against the US Dollar. XRP price nosedived below $0.3250, but technicals suggest a fresh increase above $0.3150.

  • Ripple price surged above the $0.3000 and $0.3150 resistance levels against the US dollar.
  • The price dived more than 20%, but dips remained well supported above $0.2500.
  • There is a major bullish trend line forming with support near $0.2780 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely setting up for the next rally above the $0.3000 resistance area.

Ripple Price Could Surge Above $0.30

This past week, there was a strong increase in ripple above $0.3000, following bitcoin and ethereum’s rally. The price even surged above the $0.3120 resistance and settled well above the 100 simple moving average (4-hours).

It traded to a new multi-week high at $0.3255 before it crashed more than 20%. There was a sharp decline below the $0.3000 support zone. The price even spiked below the $0.2800 support level, but dips remained well supported near the $0.2500 level.

There is also a major bullish trend line forming with support near $0.2780 on the 4-hours chart of the XRP/USD pair. A swing low was formed near the $0.2401 and recently the price started a fresh increase. There was a break above $0.2800, plus the 50% Fib retracement level of the recent crash from the $0.3255 high to $0.2400 low.

Ripple (XRP)

Ripple (XRP) price trades near $0.2000. Source: TradingView.com

The price is now testing the 61.8% Fib retracement level of the recent crash from the $0.3255 high to $0.2400 low. On the upside, there is a strong resistance near the $0.3000 level. A successful close above the $0.3000 barrier could open the doors for more gains.

The next major resistance is near the $0.3120 level, above which the price is likely to surge towards the $0.3200 and $0.3250 levels in the coming sessions.

Downsides Likely To Be Limited in XRP

If there is another downside correction, ripple is likely to find support near $0.2850. The trend line support near $0.2800 also holds the key, below which the bulls might struggle.

If there is a bearish close below the trend line support, the price could extend its decline towards the $0.2650 and $0.2600 support levels.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is about to gain strength in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is still well above the 50 level.

Major Support Levels – $0.2850, $0.2800 and $0.2650.

Major Resistance Levels – $0.3000, $0.3050 and $0.3120.

Technicals Suggest Ripple (XRP) is Setting Up For Another Rally To $0.32

Ripple surged more than 30% this past week to climb above $0.3000 against the US Dollar. XRP price nosedived below $0.3250, but technicals suggest a fresh increase above $0.3150.

  • Ripple price surged above the $0.3000 and $0.3150 resistance levels against the US dollar.
  • The price dived more than 20%, but dips remained well supported above $0.2500.
  • There is a major bullish trend line forming with support near $0.2780 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely setting up for the next rally above the $0.3000 resistance area.

Ripple Price Could Surge Above $0.30

This past week, there was a strong increase in ripple above $0.3000, following bitcoin and ethereum’s rally. The price even surged above the $0.3120 resistance and settled well above the 100 simple moving average (4-hours).

It traded to a new multi-week high at $0.3255 before it crashed more than 20%. There was a sharp decline below the $0.3000 support zone. The price even spiked below the $0.2800 support level, but dips remained well supported near the $0.2500 level.

There is also a major bullish trend line forming with support near $0.2780 on the 4-hours chart of the XRP/USD pair. A swing low was formed near the $0.2401 and recently the price started a fresh increase. There was a break above $0.2800, plus the 50% Fib retracement level of the recent crash from the $0.3255 high to $0.2400 low.

Ripple (XRP)

Ripple (XRP) price trades near $0.2000. Source: TradingView.com

The price is now testing the 61.8% Fib retracement level of the recent crash from the $0.3255 high to $0.2400 low. On the upside, there is a strong resistance near the $0.3000 level. A successful close above the $0.3000 barrier could open the doors for more gains.

The next major resistance is near the $0.3120 level, above which the price is likely to surge towards the $0.3200 and $0.3250 levels in the coming sessions.

Downsides Likely To Be Limited in XRP

If there is another downside correction, ripple is likely to find support near $0.2850. The trend line support near $0.2800 also holds the key, below which the bulls might struggle.

If there is a bearish close below the trend line support, the price could extend its decline towards the $0.2650 and $0.2600 support levels.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is about to gain strength in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is still well above the 50 level.

Major Support Levels – $0.2850, $0.2800 and $0.2650.

Major Resistance Levels – $0.3000, $0.3050 and $0.3120.

Bitcoin Holding Strong At $11K, But 100 SMA Holds The Key To Start Fresh Rally

Bitcoin crashed more than $1,500 from the $12,115 high against the US Dollar. BTC is currently consolidating above $11,000 and it must surpass the 100 hourly SMA for a fresh rally.

  • Bitcoin is holding a couple of important supports near the $11,000 and $10,850 levels.
  • The price seems to be facing a strong resistance near the 100 hourly SMA and $11,450.
  • There is a key contracting triangle forming with resistance near $11,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair must clear the 100 hourly SMA and $11,450 to start a fresh rally.

Bitcoin Price is Consolidating Losses

There was a strong increase in bitcoin price above the $11,000 and $11,500 levels against the US Dollar. BTC even broke the $12,000 level and traded to a new multi-month high above $12,100.

A high was formed near $12,115 high before the price crashed more than $1,500. It broke many key supports near $11,500 and $11,000. There was a spike below the $10,850 support, but the price stayed above the main $10,500 support zone.

A low is formed near $10,591 and the price is currently correcting higher. There was a break above the $11,000 resistance, plus the 23.6% Fib retracement level of the recent decline from the $12,115 high to $10,591 low.

However, the price seems to be struggling to clear the $11,200 and $11,250 resistance levels. The 100 hourly simple moving average is positioned near the $11,300 level to prevent an upside break. There is also a key contracting triangle forming with resistance near $11,200 on the hourly chart of the BTC/USD pair.

Bitcoin Price

Bitcoin price trades above $11,000. Source: TradingView.com

The pair must clear the triangle resistance and the 100 hourly SMA to start a fresh increase. The next major resistance is near the $11,450 and $11,500 levels. It is close to the 50% Fib retracement level of the recent decline from the $12,115 high to $10,591 low.

A successful close above the $11,500 level will most likely push the price back into a bullish zone. In the mentioned case, the price is likely to climb back towards the $12,000 resistance.

Fresh Decline in BTC?

The triangle support is near the $11,000 level, below which bitcoin price might retest the $10,850 support level in the near term.

The main support is near the $10,600 and $10,500 levels, below which the bears are likely to aim a larger decline (may be towards $10,000).

Technical indicators:

Hourly MACD – The MACD is slowly moving back into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently rising towards the 50 level.

Major Support Levels – $11,000, followed by $10,850.

Major Resistance Levels – $11,200, $11,300 and $11,450.