Resistance Zone Behind: Now Tackling 12K USD

Endy Callahan

Crypto holders remain excited and thrilled about the latest events occurring in the crypto market. All are willing to find out the details and foresee further movements. Twists and turns that cryptocurrencies take may feel and look surprising to absolutely all participants.

Of course, what has recently been happening in the crypto space hasn’t left anyone indifferent. Even the most prominent leaders of the crypto community feel curious about the nearest future and wish to know what other nuances and details there are that may lead to greater achievements, success, and positive changes.

At the moment, many mass media outlets announce that the top-ranked crypto’s price is about to tackle twelve thousand USD. This is what we can see after it managed to break through a key resistance zone. Crypto holders have witnessed how the price has finally pushed through twelve thousand USD and this is the second time it has done this in the past four weeks. Now many analysts are trying to predict how long it will hold this position.

Only a few hours have passed since the crypto’sprice passed by the eleven-thousand-eight-hundred-USD resistance. Many participants are happy to see it make its way back over twelve thousand USD. Here is a chart that presents the most recent data. Study and analyze the statistics to see the changes and make your own predictions relying on the details provided below.

As we can see, there has been quite a steep and sudden upside move. It came after a comparatively quiet weekly close since LINK and BANK as well as similar altcoins seemed to have been enjoying the times with gains of double digits.

Contributors Share Their Opinions

According to several leading contributors, the crypto’s price has been trying to consolidate. All crypto holders witnessed a pennant on the daily timeframe and are now discussing the breakout to twelve thousand USD. As a matter of fact, this didn’t look surprising to many participants since crypto analysts could foresee and predict this sort of event this month.

The pair of BTC and U.S. dollar has actually formed a pennant. Currently, it acts as a kind of continuation pattern. If there is a breakout and close above this level, it will serve as one of the major signs that bulls have gradually gained the upper hand. The key objective of this breakout would be fourteen thousand seven hundred and fifty-six USD.

Nevertheless, since the overhead resistance of twelve thousand three hundred and four is really close by, the majority of traders can keep on waiting for the price to remain above the level, and only then will it turn positive. There is no doubt that right now the price is rallying through the twelve-thousand-USD mark. Analysts believe that bulls should be able to guarantee enough volume so that the market could push to a new daily high of twelve thousand one hundred and twenty-two USD that we saw last week.

On the other hand, holders state that the crypto’s price surged above twelve thousand USD and now altcoins are likely to take a slight move. This applies to LINK and BAND – the community has just seen significant double-digit losses. LINK price fell by ten percent.

Fortunately, it successfully recovered since then and trades above thirteen USD. Band also corrected by over thirty-one percent when its price dropped to over twelve USD. Participants also noted the moment when it traded for sixteen USD.

Professionals pay attention to how ADA could pull a bit back and fell by over two percent to trade 0.145 USD. Finally, specialists mention that the cryptocurrency market cap remains at three hundred and sixty-four billion USD. The dominance index of the top-ranked crypto is at almost sixty-one percent.