Bitcoin and cryptocurrencies visited the green areas recently and stayed there for a while. According to CoinMarketCap data, only NEO of the top 20 crypto currencies is in the red area. Apart from that, there are some minor increases in all the remaining cryptocurrencies. So what is the situation with Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Litecoin (LTC) prices?
BTC Price Analysis
Bitcoin (BTC) price is steadily rising above the $ 10,800 resistance against the US dollar. However, BTC may face strong resistance near $ 11,000 and $ 11,100 in the near term, according to analyst Aayush Jindal. Bitcoin started a good recovery wave above the $ 10,550 and $ 10,650 resistance levels.
The price is currently trading above the $ 10,800 resistance and the 100 hourly simple moving average. There was a break above the bearish channel with resistance close to $ 10,750 on the hourly chart of the BTC / USD pair (data feed from Kraken). The pair is likely to encounter strong resistance near the $ 11k zone.
ETH Price Analysis
Ethereum is slowly moving into a positive zone above the $ 350 resistance against the US Dollar. ETH price should break the $ 362 and $ 365 resistance levels to continue rising. Ethereum traded above the $ 350 and $ 355 resistance levels to move into the positive zone, according to analyst Aayush Jindal. The price seems to form a support base above the $ 350 and 100 hourly simple moving average.
There is a key bullish channel formed on the hourly chart of ETH / USD (data stream via Kraken) with support near $ 352. The pair will likely continue to be higher if it clears the $ 362 and $ 365 resistance levels.
LINK Price Analysis
According to CoinMarketcap data, Chainlink experienced a 2.5% rise for the day. But the cryptocurrency has not been able to break the resistance level at $ 11.14 for the past four days. After failing to break the resistance level, prices showed a downward trend but recovered in a short time. Intraday traders should also look for short-term opportunities, as the 1-hour chart is trending bearish, according to analyst Kelvin Maina. Chainlink opened the markets at $ 10.79, reaching $ 11.07. LINK then lost approximately 2% of its earnings. The cryptocurrency was trading at $ 10.51 at the time of writing.
Prices are expected to continue to hit new lows on the hourly chart, and the expected price action will move downward towards the $ 9.28 support levels.
ADA Price Analysis
ADA soared in the early trading session on Monday, when investors were accumulating tokens with optimistic fundamentals. The local presence of the Cardano blockchain project soared with a 3.3% increase in the morning hours. Earnings followed a wild upward movement that began on September 24, 2020. Since then, the ADA / BTC exchange rate has risen up to 32 percent. The cryptocurrency was trading at $ 0.104, up 9% in the last 24 hours at the time of writing, according to CoinMarketCap data.