Bitcoin price remained well bid near the USD 15,800 level and recently recovered above USD 16,000. BTC even climbed above USD 16,200, but it is currently (13:00 UTC) struggling to clear the USD 16,350 resistance level. The main hurdle for a larger rally is now near the USD 16,500 level.
Besides, there was a decent recovery wave in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is trading above USD 450, but it is facing hurdles near USD 455 and USD 460. XRP/USD is showing positive signs and it is trading above the USD 0.272 level. Also, there was a strong increase in litecoin, as it climbed above USD 67.50, outperforming top 40 coins by market capitalization.
Total market capitalization
There was a decent increase in bitcoin price from the USD 15,800 support. BTC settled above USD 16,000 and USD 16,200. However, the bulls need to gain strength for a push above the USD 16,350 level. The main breakout zone is near USD 16,500, above which the price might accelerate higher towards the USD 17,000 level.
On the downside, the price might find bids near the USD 16,000 level. The key breakdown support is now forming near the USD 15,800 level.
Ethereum price recovered higher after testing the USD 440 support. ETH is back above USD 450, with an immediate hurdle at USD 455. The first key resistance is near the USD 460 level, above which the price might revisit the USD 478 high.
If there is a fresh decline below the USD 450 support level, the price may perhaps retest the USD 440 support level in the near term.
Bitcoin cash, chainlink and XRP price
Bitcoin cash price is slowly rising and approaching the USD 250 resistance level. If BCH settles above USD 250, it could start a fresh increase towards the USD 260 and USD 265 levels. Conversely, the price might retreat lower and revisit the USD 240 support level.
Chainlink (LINK) found a strong support at USD 12.00 and it is currently recovering higher. An initial resistance is near the USD 12.50 level. The main resistance is near the USD 12.80 and USD 13.00 levels. In the short-term, it seems like there could be range moves between USD 12.00 and USD 13.00 in the coming sessions.
XRP price was well supported above the USD 0.265 level. The price is now trading above the USD 0.272 resistance level and it might continue higher. The next major resistance is near USD 0.275, above which the bulls could aim for a break above the USD 0.280 level. On the downside, there are many key supports near USD 0.270 and USD 0.265.
Other altcoins market today
In the past few hours, many altcoins gained over 5%, including WAVES, RUNE, SUSHI, CRV, LTC, SOL, AVAX, NXM, DASH, and RSR.
To sum up, bitcoin price is showing positive signs above the USD 16,200 level. However, BTC must surpass the USD 16,350 and USD 16,500 levels to continue higher.