- Bitcoin price is consolidating above $19,000.
- Ethereum struggled to clear $1,350, XRP is down 5% and trading below $0.45.
- LUNC holds gains and could start a new rally.
Bitcoin price failed to stay above the $19,500 level. BTC is currently (03:10 UTC) consolidating above the $19,200 level. A break down and close below $19,000 could trigger another decline to $18,500 or even $18,250.
Likewise, most major altcoins are showing some bearish signs. ETH is consolidating below the $1,320 resistance zone. XRP fell below the support levels of $0.455 and $0.450. ADA is struggling to stay above $0.42.
Last week, bitcoin price attempted a further rise above the $19,600 resistance. BTC even surpassed the $20,000 level. However, there was no upside run above the $20,000 level. As a result, there was a further bearish reaction and the price fell below $19,500 and the 50 hourly simple moving average. On the downside, an initial support is near the $19,000 level. The next major support is near the $18,500 area, below which the price may drop to $18,250.
If there is a new increase, the price may face resistance near $19,600. The next major resistance is near $20,000, above which the price may test the $20,500 area.
Ethereum price has also started a fresh decline after failing to break through the $1,350 resistance zone. ETH fell below the $1,320 support and the 50 hourly simple moving average. It is now trading below $1,300, with initial support at $1,280. The next major support is $1,255, below which the price could gain bearish momentum.
On the rise, the price is facing resistance near the $1,310 level and the 50-hour simple moving average. The next major resistance is near the $1350 level, above which the price may visit the $1400 resistance.
Prices of ADA, BNB, SOL, DOGE, and XRP
Cardano (ADA) settled well below the $0.45 level. The price fell below $0.435 and is currently struggling to stay above $0.42. The next major support is located at $0.405.
BNB consolidates near the $285 level. If there is a further rise, the price might test the resistance levels of $295 and $300. Conversely, it could go down to $272.
Solana (SOL) is moving lower towards the $32 level. If there is a break below $32, the price could decline towards $30.50. The next major support is $30.00.
DOGE slowly falling below the $0.0600 level. If the bears stay in action, the price might decline towards the $0.0585 level in the near term.
The price of XRP slowly moved below the $0.45 bracket. If there are more losses, perhaps the price could test $0.432. On the upside, the $0.465 poses a major hurdle.
The market for other altcoins today
Many altcoins are in the red zone, including CHZ, HT, MIOTA, GMT, LDO, APE, ATOM, CELO, QNT, COMP, LINK and NEXO. Conversely, LUNC is still in an uptrend and could surge again.
Overall, bitcoin price is struggling to stay above the $19,000 support. If BTC falls below $19,000, there is a risk of a fresh bearish wave.