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Bitcoin (BTC) price has struggled to break through the $19,500 resistance level. BTC is currently trading below $19,000. The Fed’s increase in the real interest rate to 3.25% increased selling pressure, putting prices at risk of falling below $18,000.
Similarly, most major altcoins are falling. ETH has dipped below $1,250. XRP is currently consolidating gains above $0.40. The ADA is descending to $0.432.
Bitcoin (BTC) price
After struggling to break through the $19,500 resistance, the bitcoin (BTC) price plummeted below the $19,250 level and the 50-hour SMA . The price even fell below the $18,380 support zone and the $18,150 test zone.
BTC is currently correcting higher, with immediate resistance at $18,780. The next major resistance is near $19,000 and the 50-hour SMA, above which the price can rally to $19,500.
On the downside, initial support is near $18,380. Thenext major support zone is near $18,150, below which the price can fall to $17,800.
Ethereum (ETH) price
Ethereum price started plummeting from the $1,410 resistance zone. ETH is down more than 5% and trading below $1,300.
There has been a move below the uptrend line at $1,330 on the hourly chart and the price has stabilized below the 50-hour SMA.
It tested the $1,220 zone and is currently correcting higher. In the opposite direction, the price is facing resistance near the level of $1,315.
The next major resistance is currently forming near the $1,345 and $1,350 levels.
On the downside, the initial support level is near $1,240. The next major support is $1,220, below the testable price of $1,165.
ADA, BNB, SOL, DOGE, and XRP Prices
Cardano (ADA) is gradually moving below the $0.45 level. The first major support is near $0.432, below which it may even test $0.42.
BNB has dropped below $268 and is now moving lower and can return to the $262 support level. The next major support is $255.
Solana (SOL) is slowly dropping to $30.50. The next major support levels are near $30.20 and $30.00, below which the bears can gain strength.
DOGE fell below $0.0580. It seems that the price may return to the $0.0550 support level. Otherwise, the DOGE may move to the $0.060 resistance zone.
XRP price is consolidating gains above the $0.40 resistance level. If the bulls remain active, there may be a new move towards the $0.425 resistance zone.
Altcoin market
Several altcoins are in the green zone, including CEL, ALGO, CHZ, RVN, UNI, COMP, USDN, KSM, KLAY , and LDO.
CEL rose more than 8% and traded above 1.55.
Overall, the bitcoin price is facing an increase in selling pressure below $19,000.If the bears remain active, BTC could slide below $18,000.
