Advertisement
- Bitcoin price is struggling to break through the $19,500 resistance level.
- Ethereum could plummet if it breaks $1,300, XRP is up more than 10 percent and clears $0.40.
- XLM and EOS rose more than 5%.
Bitcoin price has been unable to gain momentum above the $19,500 resistance level. BTC is currently trading below $19,200. If there is a breakout and the price falls below $19,000, the price has dropped deeper.
Similarly, most major altcoins are facing significant hurdles. At the top is ETH which is near $1,380 and is correcting the upside. XRP maintained its strength and stayed above the $0.40 resistance zone. The ADA is consolidating above the $0.45 zone.
Bitcoin Price
After struggling to settle above the $19,500 resistance, the Bitcoin price corrected the upside. BTC has fallen below $19,300 and is below the 50-hour simple moving average. It seems that the price is following the downtrend line with the $19,100 resistance on the hourly chart.
A clear move above the trendline can take the price to the $19,330 resistance level. The next major resistance level is near $19,620, at which the price can move quickly.
On the other hand, the initial support level is near the $18,780 level. The next major support is near the $18,380 zone, below which the price may even test the $18,000 support zone.
Ethereum Price
The Ethereum price has made several attempts to sustain above the $1,380 level and the 50-hour simple moving average. However, ETH failed and began to decline slowly. There was a move below the $1,350 level. The next major support is $1,310, below which could return to $1,275.
In the opposite direction, the price is facing resistance near the $1,345 level. The next major resistance level is currently forming near the $1,390 and $1,410 levels, above which the price may move to a more positive zone.
ADA, BNB, SOL, DOGE, and XRP Prices
Cardano (ADA) is currently consolidating above the $0.450 zone. If the price sustains above $0.45, it can move towards the $0.48 resistance zone in the near term.
BNB tested the $272 level, but it was unable to test the $275 resistance level in the short term. It is currently falling and can return to the $265 support level. The next major support is $255.
Solana (SOL) failed to break through the $32.50 resistance. The price is gradually moving lower towards $31.20. The next major support is near the $30.50 and $30.20 levels.
Dogecoin (DOGE) managed to break above the $0.0600 resistance level. However, the price fell below $0.0595. If further losses are suffered, the price can return to $0.0580.
The price of Ripple (XRP) is up more than 10% and has seen significant gains above the $0.40 resistance level. The price is currently consolidating the gains and there may be a new move towards the $0.425 level.
Altcoin market today
Several altcoins are in the green zone, including XLM, EOS, COMP, USDN, LEO, HNT, HT, MIOTA, XMR , and BNX. Of these, XLM is gaining strength above the $0.115 level.
Overall, the Bitcoin price is struggling to clear the $19,500 and $19,620 resistance levels. A close below $19,000 could increase selling pressure on BTC in the coming trading sessions.
See also: Bitcoin price “struggles” at $19,000 mark, bears continue to dominate the market?
