- Bitcoin price is struggling to clear the $19,500 resistance.
- Ethereum could drop sharply if it breaks above $1,300, XRP rebounded more than 10% and cleared $0.40.
- XLM and EOS are up more than 5%.
Bitcoin price failed to gain any bullish momentum above the $19,500 resistance. BTC is currently trading (03:10 UTC) below $19,200. If there is a downside break below $19,000, perhaps the price could accelerate lower.
Likewise, most major altcoins face significant hurdles. ETH broke above near $1,380 and corrected gains. XRP remained strong and settled above the $0.40 resistance zone. ADA is consolidating above the $0.45 area.
After struggling to settle above the $19,500 resistance, bitcoin price corrected earnings. BTC fell below the $19,300 level and settled below the 50 hourly simple moving average. It looks like the price is following a downtrend line with resistance at $19,100 on the hourly chart. A clear move above the trendline could send the price to the resistance at $19,330. The next major resistance is near $19,620, above which the price may gain momentum.
On the downside, an initial support is near the $18,780 level. The next major support is near the $18,380 area, below which the price might even test the $18,000 support area.
Ether price made some attempts to settle above the $1,380 level and the 50 hourly 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 the price could retrace to $1,275.
On the upside, the price faces 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 could possibly move into a positive zone.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) is currently consolidating above the $0.450 area. If the price remains above $0.45, it might attempt to head towards the $0.48 resistance area in the near term.
BNB tested the $272 level, but failed to test the near-term resistance at $275. It is falling now 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 declining 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-up and the price fell below $0.0595. If there are more losses, the price might revisit $0.0580.
XRP Price is up more than 10% and there was a decent rise above the $0.40 resistance. The price is now consolidating its gains and there might be further movement towards the $0.425 level.
Market of other altcoins today
A few altcoins are in the green zone, including XLM, EOS, COMP, USDN, LEO, HNT, HT, MIOTA, XMR, and BNX. Among 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 could increase selling pressure on BTC in the coming sessions.