- Bitcoin price is struggling to clear the $19,500 resistance.
- Ethereum might decline sharply if it breaks $1,300, XRP rallied over 10% and cleared $0.40.
- XLM and EOS are up over 5%.
Bitcoin price failed to gain bullish momentum above the $19,500 resistance. BTC is currently (03:10 UTC) trading below $19,200. If there is a downside break below $19,000, the price may perhaps accelerate lower.
Similarly, most major altcoins are facing important hurdles. ETH topped near $1,380 and corrected gains. XRP remained strong and settled above the $0.40 resistance zone. ADA is consolidating above the $0.45 zone.
After struggling to settle above the $19,500 resistance, bitcoin price corrected gains. BTC declined below the $19,300 level and settled below the 50-hour simple moving average. It seems like the price is following a bearish trend line with resistance at $19,100 on the hourly chart. A clear move above the trend line might send the price to the $19,330 resistance. The next major resistance is near $19,620, above which the price might gain pace.
On the downside, an initial support is near the $18,780 level. The next major support is near the $18,380 zone, below which the price could even test the $18,000 support zone.
Ethereum price made a couple of attempts to settle above the $1,380 level and the 50-hour simple moving average. However, ETH failed and started a slow decline. There was a move below the $1,350 level. The next major support is $1,310, below which price could revisit $1,275.
On the upside, the price is facing resistance near the $1,345 level. The next major resistance is now forming near the $1,390 and $1,410 levels, above which the price may perhaps move into a positive zone.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is currently consolidating above the $0.450 zone. If the price remains above $0.45, it could attempt a move towards the $0.48 resistance zone in the near term.
BNB tested the $272 level, but it failed to test the $275 resistance in the near term. It is now moving lower and might revisit the $265 support. The next major support is $255.
Solana (SOL) failed to settle above the $32.50 resistance. The price is slowly moving lower towards the $31.20 level. The next major support is near the $30.50 and $30.20 levels.
DOGE attempted an upside break above the $0.0600 resistance. However, there was no follow through and the price declined below $0.0595. If there are more losses, the price might revisit $0.0580.
XRP price is up over 10% and there was a decent increase above the $0.40 resistance. The price is now consolidating gains and there might be a fresh move towards the $0.425 level.
Other altcoins market today
A few altcoins are in the green zone, including XLM, EOS, COMP, USDN, LEO, HNT, HT, MIOTA, XMR, and BNX. Out of these, XLM is gaining strength above the $0.115 level.
Overall, bitcoin price is struggling to clear the $19,500 and $19,620 resistance levels. A close below $19,000 might increase selling pressure on BTC in the coming sessions.
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Article source: Crypto News