Bitcoin Breaks USD 12,400, Altcoins Start Fresh Increase

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 recovering, but it is still struggling to surpass the USD 380 and USD 382 resistance levels. XRP/USD settled above USD 0.245 and it could soon attempt to clear the USD 0.250 resistance.

Total market capitalization

Bitcoin price

After a clear break above USD 12,000, bitcoin price extended its rise above USD 12,200. BTC even traded above the USD 12,400 level before correcting a few points. However, it is currently well bid above USD 12,300 and USD 12,200. The price is trading with a positive angle and it could soon climb above USD 12,450 and USD 12,500. The next key resistance is near the USD 12,800 level. If there is a downside correction, the USD 12,150 and USD 12,050 levels might provide support. The main support is now forming near USD 12,000.

Ethereum price

Ethereum price settled above USD 370 and it made an attempt to clear the USD 380 resistance. ETH is trading in a positive zone and there are chances of a break above USD 380 and USD 382. The next key resistance for the bulls is near the USD 385 level. On the downside, the USD 375 level is a decent support and a pivot level. A clear break below USD 375 could drive the price back towards the USD 370 support zone.

Bitcoin cash, chainlink and XRP price

Bitcoin cash price is up over 5% and it surged above the USD 250 level. BCH is gaining traction and it might test the USD 260 level. The next major resistance is near USD 265, above which the bulls might aim for a test of the USD 275 level. If there is a downside correction, the price could find support near the USD 250 level. Chainlink (LINK) is recovering above the USD 10.20 and USD 10.30 levels. It might attempt an upside break above the USD 10.50 level. If the bulls succeed, there are high chances of a sustained upward move. The next key resistance is near the USD 10.80 level. If there is a fresh decline, the USD 10.20 level might provide support. XRP price is up 2% and it is trading well above the USD 0.245 and USD 0.246 levels. The bulls are attempting an upside break above the USD 0.250 level. The next major hurdle is near the USD 0.252 level. On the downside, the USD 0.245 level might provide a strong support.

Other altcoins market today

In the past few hours, a few altcoins climbed over 5%, including AMPL, RSR, OKB, WAVES, MANA, LTC, KNC, EGLD and STX. Out of these, AMPL is gaining pace and it is trading above USD 1.00.

Overall, bitcoin price is surging and it might break the USD 12,500 resistance. If BTC continues to rise above USD 12,500, there are chances of a surge towards the USD 12,800 and USD 12,850 levels. __

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