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- The Bitcoin price started a wave of recovery and climbed above $19,000.
- Ethereum was able to correct higher above $1,350, XRP was up more than 10%.
- HNT, APE and ALGO rose more than 10%.
Bitcoin price was trading at a new monthly low near $18,250 before it began to correct upwards. BTC is currently trading above $19,200. The price must exceed $19,500 and $19,620 to continue higher.
Similarly, most major altcoins initiate a decent upward correction. ETH has recovered above the $1,350 resistance zone. XRP performed better with a strong move above the $0.365 resistance level. The ADA is consolidating near the $0.45 zone.
Bitcoin Price
After briefly falling below $18,500, the Bitcoin price has found support. BTC has formed a base near the $18,250 level and started a bullish correction above the 50-hour simple moving average. There has been a bullish move above the $19,000 and $19,200 levels.
The price is currently facing stiff resistance near the $19,500 and $19,620 levels. If there are more gains, the price can rally to the $20,200 resistance zone.
On the downside, the initial support is near the $19,350 level and the 50-hour simple moving average. The next major support is near the $18,870 zone, below which the price may even test the $18,250 support zone.
Ethereum Price
Ethereum price has found support near the $1,275 level. ETH has started a bullish correction above the $1,300 and $1,320 resistance levels. There has been a movement above the bearish trend line on the hourly chart at $1,350.
The price is currently struggling to move above the $1,380 level and the 50-hour simple moving average. The next major resistance is currently forming near $1,410.
If there is a new fall, the price may slide below the $1,355 support level. The next major support is $1,320, if it falls below this level, the price can return to $1,275.
ADA, BNB, SOL, DOGE, and XRP Prices
Cardano (ADA) is currently consolidating near the $0.450 region. If the price stabilizes above $0.450 and $0.455, it could start a good recovery wave.
BNB still bid high above the $250 support level. The price is currently rising and trading above $265. If the bulls remain active, the price is likely to test the $275 resistance level in the near term.
Solana (SOL) is gradually rising above the $31.20 level. It may soon test the $32.50 resistance level. Any further gains could open the door for a move towards $33.20.
Dogecoin (DOGE) was trading close to $0.0550. It is currently recovering losses and trading above $0.0575. On the upside, the main resistance is now near $0.0600.
The price of Ripple (XRP) is up more than 10% and has seen significant gains above the $0.365 resistance level. The price could probably try to move towards the $0.395 and $0.400 levels.
Other Altcoins Today
Many altcoins rose more than 6%, including HNT, APE, ALGO, USTC, LDO, CEL, LUNC, COMP, 1INCH, KAVA, and CVX. Of these, HNT rose more than 15% and surpassed $4.75.
Overall, the Bitcoin price is trying to make a wave of recovery above $19,200. However, BTC must clear $19,500 and $19,620 to continue moving higher.
See also: Chiliz ($CHZ) maintains good performance as it is up 172% since the market declined in June.
