Bitcoin and Altcoins Remain In A Steady Uptrend

  • 13 October 2020, Tuesday, 10:06

Bitcoin price corrected below USD 11,500, but dips were supported near USD 11,350. BTC is currently (13:00 UTC) showing positive signs, but it must gain momentum above USD 11,550 to resume its upward move in the near term. Most major altcoins climbed higher and traded with a bullish angle, including ethereum, XRP, litecoin, bitcoin cash, EOS, XLM, LINK, BNB, TRX, and ADA. ETH/USD is up 4% and it is trading near the USD 385 level. XRP/USD regained bullish momentum, but is struggling to clear the USD 0.260 resistance zone.

Total market capitalization

Bitcoin price

After a short-term downside correction, bitcoin price found support near the USD 11,350 level. BTC climbed higher, but it seems like the bulls are struggling to gain strength above USD 11,550. A successful close above USD 11,550 might lead the price further higher towards USD 11,700. The next major resistance is near the USD 11,800 level. On the downside, the USD 11,300 level is a decent support zone. The first major support is near the USD 11,200, below the price might revisit the USD 11,000 support.

Ethereum price

Ethereum price remained well bid above USD 370 and USD 375. ETH regained strength and climbed above USD 385. The current price action is positive, but the price might face hurdles near USD 390 and USD 392. A clear break above USD 392 might increase the chances of more upsides. On the downside, the USD 375 level presents a strong support. Any further losses may perhaps open the doors for a larger decline towards the USD 365 support level.

Bitcoin cash, chainlink and XRP price

Bitcoin cash price is gaining pace above the USD 235 and USD 240 resistance levels. BCH is testing the USD 245 level and it seems like the bulls are aiming a test of the USD 250 resistance. A clear break above the USD 250 level might set the pace for a push towards the USD 265 level. On the downside, the USD 240 level might act as a decent support. Chainlink (LINK) is consolidating gains above the USD 13.00 and USD 13.20 levels. The price is showing positive signs it could resume its upward move above the USD 13.40 and USD 13.50 levels. The next key resistance is still near the USD 13.80 level, above which the price could test USD 14.20. XRP price stayed above the USD 0.255 support and it retested the USD 0.260 resistance. The price is currently showing positive signs, and it might make another attempt to clear the USD 0.260 level. In this case, the price might rise steadily towards the USD 0.272 level.

Other altcoins market today

In the past few hours, many altcoins climbed over 5%, including OCEAN, SNX, NXM, UNI, PMA, ADA, BAL, STORJ, XTZ, ZRX, GNT, QNT, AVAX, ICX, HYN, KSM, and WAVES. Out of these, SNX is showing positive signs above USD 4.50, and it could accelerate higher towards USD 5.00.

Overall, bitcoin is holding important supports and it could rise steadily towards USD 11,550 and USD 11,700. To rise sharply, BTC must clear the USD 11,800 resistance level. Conversely, the price might decline towards the USD 11,200 support. __

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