Bitcoin Price and Ethereum Eye Crucial Bullish Break
1 year ago
Ethereum
532Vues
Bitcoin price recovered above the $19,000 and $19,200 levels. BTC is currently (10:30 UTC) eyeing an upside break above the $19,650 resistance. If bulls succeed, the price could rally 5%-8% in a short amount of time. Similarly, most major altcoins may start a fresh rally as well. ETH is consolidating above $1,300 and may climb higher above $1,350. XRP is still facing resistance near the $0.45 zone. ADA is consolidating near the $0.435 level. Recently, bitcoin started a recovery wave above the $19,200 resistance. BTC even settled above the $19,200 level and the 50-hour simple moving average. However, the price seems to be facing strong resistance near the $19,650 and $19,700 levels. The next major resistance is near $20,000, above which the price may consolidate before moving higher. If there is no upside break above $19,650, the price may fall back down to the lower support. On the downside, initial support is near the $19,300 level. The next major support is near the $19,000 zone, below which the price may fall to $18,500. Ethereum price climbed higher above the $1,300 resistance zone. ETH even cleared the $1,320 level and the 50-hour simple moving average. It is now struggling to clear the $1,340 level and a connecting bearish trend line on the hourly chart. The next major resistance is near the $1,350 level, above which the price could revisit the $1,400 resistance. If ether price fails to clear the trend line resistance, it could correct lower. On the downside, initial support is near the $1,308 level. The next major support is $1,280, below which price could revisit $1,255. Cardano (ADA) is still consolidating near the $0.435 level. If there is a fresh rally, it might test the $0.45 resistance zone. If that fails, the price could drop and test $0.42. BNB is trading in a range near the $282 level. Immediate resistance is near $285. The next major resistance is near the $288 level, above which the price could rise to $295. Solana (SOL) is slowly moving higher towards the $34.20 resistance. If current momentum continues, price could reach the $35 level. On the downside, there is a decent support near $32.50. DOGE is consolidating above the $0.0600 level. Immediate resistance is near the $0.062 level. If bulls are unable to push it higher, DOGE could drop and revisit $0.0565. XRP price is slowly moving higher towards the $0.45 resistance. A clear upside break above $0.45 might start a fresh rally higher. In which case, XRP could reach the $0.48 level. Many altcoins are in the green today, including DCR, HNT, EOS, XEM, SNX, LDO, LUNC, CAKE, KSM, MKR, and CRV. Out of these, DCR is gaining pace above the $27.00 level and might rise further. To sum up, bitcoin price is consolidating above $19,200. If BTC clears the $19,650 resistance, it could rally to $20,000 if momentum continues.
All data is taken from the source: http://cryptonews.com
Article Link: https://cryptonews.com/news/bitcoin-price-ethereum-eye-crucial-bullish-break.htm
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