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The crypto markets are a sea of green, with every digital asset in the top 10 coins by market cap in positive territory.
Bitcoin is up 7.22% at $11,725 according to COIN360 at time of publishing.
Ethereum is up 5.05% at $231.98, XRP is up 0.99% at $0.3210 and Litecoin is up 5.63% at $97.83.
CoinDesk analyst Omkar Godbole says BTC is now likely to test resistance at $12,030.
“BTC’s move above the bearish lower-high of $11,120 (above left) is backed by a bullish above-50 reading on the relative strength index (RSI).
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Further, the moving average convergence divergence (MACD) histogram continues to gain altitude, another sign of strengthening bullish momentum. What’s more, BTC has found acceptance above the 50-day moving average (MA). Also, the 5- and 10-day MAs are trending north, indicating a bullish setup.”
Here’s a look at the latest forecasts from across the cryptoverse.
Bitcoin
CoinDesk – Bitcoin eyes $12K price hurdle as dominance rate hits 28-month high
Bitcoinist – If BTC bulls can break $12,400, yearly highs will likely be surpassed shortly after
Ethereum
FX Street – ETH/USD bulls breaking out from bearish technical structure
Crypto Daily – ETH support expected at $217 with resistance at around $239
XRP, Litecoin, Bitcoin Cash, EOS, Tron, Cardano
FX Empire – Reversal could be in the cards for XRP, LTC and BCH if key levels don’t hold
NewsBTC – Crypto market surging: BCH, EOS, TRX, ADA analysis
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
