Bitcoin price is making several attempts to accelerate its pace above the $ 11,500 and $ 11,550 resistance levels. However, BTC is struggling to stay above $ 11,500 and stay within range. Currently the price is trading well below $ 11,500 with a major support of $ 11,250.
On the downside, there have been slight dips in most major altcoins, including Ethereum, XRP, Litecoin, EOS, XLM, LINK, BNB, TRX, and ADA. ETH / USD is trading below the support levels of USD 380 and USD 378. XRP / USD is down 4% to trade below the key support at USD 0.250. Bitcoin money price remains in the positive zone and is still trading above the USD 255 level.
After several failed attempts, the Bitcoin price will be adjusted lower. BTC is trading below the $ 11,400 level but remains above $ 11,250 support. The price appears to have held within this range but is struggling to reach the $ 11,500 and $ 11,550 resistance levels. To initiate a steady rise, the price must be set above $ 11,550. Otherwise, there is a risk of a downward correction below support levels of USD 11,250 and USD 11,200.
Ethereum price started bearish below USD 385 resistance. ETH broke USD 380 support and is now trading below USD 378 level. Bulls are holding onto the $ 375 level but risk major losses to the $ 365 support level in the near term. On the upside, previous support near USD 380 could act as resistance. The first major hurdle is approaching the $ 385 level where $ 392 can be reconsidered.
Bitcoin Cash price remains in the positive zone, outperforming ether and bitcoin. BCH is up again $ 255 but faces resistance of nearly $ 260 and $ 265. If there is no break above USD 265, the price may initiate a downward correction. The first key support is close to $ 250, under which you can test $ 240.
Chainlink (LINK) failed to advance further and fell below USD 11.00 support. The decline even pushed the price below $ 10.80 and the bulls are currently struggling to maintain $ 10.50 support. If there is a significant break below $ 10.50, the price may rethink the $ 10.00 support level.
XRP price hit the level of $ 0.260 and started a sharp downward correction. There was a break below the $ 0.255 and $ 0.250 support levels. XRP is down around 4% and the bears seem to be trying to test a major support level around $ 0.245.
In conclusion, Bitcoin price is showing some bearish signs below $ 11,500 and $ 11,550. Even so, BTC can continue growth when it trades above USD 11,200 support.
Source: https://cryptonews.com/news/bitcoin-ethereum-and-major-altcoins-struggle-to-get-traction-7998.htm