Traders have turned bullish on Ethereum again and the strong break above $400 could pull Bitcoin and other altcoins higher.
As Bitcoin price slowly regains momentum, many altcoins have been rewarding traders by rallying to new all-time highs.
Bitcoin price continues to decline at $12,000, but altcoins have taken advantage of the range bound action by rallying higher.
Bitcoin and most altcoins are likely to remain range-bound for a few more days before resuming the next leg of the up move.
Bitcoin and altcoins might consolidate or correct marginally for a few days before a possible breakout to the upside.
If Bitcoin can reclaim the $12,200 level, several altcoins are likely to resume their uptrend.
The strong recovery in Bitcoin and altcoins from their weekend lows suggests that the traders are aggressively buying each dip.
Bitcoin price corrected sharply after reaching $12,000 but the strong bounce from BTC and altcoins shows bulls are intent on pushing prices higher.
Bitcoin and most altcoins could consolidate for a couple of days before resuming their uptrend.
Bitcoin has made a decisive move above $10,500, which is likely to boost sentiment and pull several altcoins higher.