Bitcoin Breaks USD 15,600 Again, Altcoins Grind Higher

  • 11 November 2020, Wednesday, 10:06

After a couple of failed attempts, bitcoin price finally cleared the USD 15,500 and USD 15,600 resistance levels. BTC is currently (13:00 UTC) up over 2% and it might continue higher towards USD 15,850. Any further gains could open the doors for a push above USD 16,000.

Similarly, there were positive moves in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is now trading above USD 455 and it even surpassed the USD 460 resistance. XRP/USD is back above USD 0.255 and it might revisit the USD 0.260 resistance in the near term.

Total market capitalization

Bitcoin price

Finally, bitcoin price surpassed the USD 15,500 resistance and it even broke the USD 15,600 zone. BTC gained over 2% and it seems like the bulls are aiming for a test of the USD 15,850 resistance. If they remain in action, there are chances of a break above the USD 16,000 resistance level. On the downside, the previous resistance near USD 15,500 might act as a support. The next major support for the bulls is near the USD 15,350 level.

Ethereum price

Ethereum price remained in a positive zone above the USD 455 resistance. ETH even managed to climb above the USD 460 resistance and it could continue to rise. The next major hurdle is near the USD 468 and USD 470 levels. If there is a downside correction, the USD 455 zone might act as a support. The next major support is forming near the USD 450 level.

Bitcoin cash, chainlink and XRP price

Bitcoin cash price is holding the USD 255 support level, but it is struggling to clear the USD 260 resistance. If BCH follows ETH and XRP, it could climb above USD 260. The next hurdle is near USD 265, above which the price could surge past USD 270. On the downside, the main breakdown support is at USD 250. Chainlink (LINK) is consolidating gains above the USD 13.00 level. If there is a break below the USD 13.00 support, the price could find bids near USD 12.80. The next key support is near the USD 12.50 level. Conversely, the price might climb above the USD 13.20 and USD 13.35 resistance levels. XRP price is trading above the USD 0.255 pivot level. It seems like the price might visit the USD 0.260 resistance level, above which the price might surge towards the USD 0.268 and USD 0.270 levels. If the price trades below USD 0.255, it could test the USD 0.252 and USD 0.250 support levels.

Other altcoins market today

In the past few hours, a few altcoins climbed over 8%, including LRC, UMA, CELO, SUSHI, KSM, HBAR, NEXO, NXM, and COMP. Conversely, GNT, MANA, and DCR are down more than 10%.

To sum up, bitcoin price avoided a major bearish move below the USD 15,200 and USD 15,000 support levels. BTC is rising steadily and it would be interesting to see how the bears react when the price reaches USD 15,850 or USD 16,000.


Find the best price to buy/sell cryptocurrency: