Bitcoin and Ethereum At Risk of More Downsides
Bitcoin price settled below the USD 24,000 support zone. BTC traded below the USD 23,500 level before it started a consolidation phase. It is currently (11:20 UTC) showing a few bearish signs, but a break above USD 24,000 might spark a decent increase.
Similarly, most major altcoins are trading near support zones. ETH is stuck near USD 1,850 with a bearish angle. XRP might attempt another move above USD 0.38. ADA is facing resistance near the USD 0.55 zone.
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After a break below USD 23,500, the bitcoin price found support. BTC remained well bid near the USD 23,200 level. It started a consolidation phase near the USD 23,500 level. On the upside, the price might face resistance near the USD 23,850 level. The next resistance is near the USD 24,000 level, above which the price might start a decent increase.
If there is no upside break above USD 24,000, the price might start another decline. The key support is near the USD 23,200 zone, below which the price could test USD 22,500.
Ethereum price tested the USD 1,820 level and remained stable above USD 1,800. ETH is now consolidating near the USD 1,850 level. On the upside, the price is facing resistance near the USD 1,880 level. The next key resistance is near the USD 1,920 level, above which the price might gain bullish momentum for a move to USD 2,000.
On the downside, the price might find support near the USD 1,820 level. The next major support is USD 1,780, below which the price could decline to USD 1,700.
Cardano (ADA) remained stable near the USD 0.532 support level. It is now moving higher, but the bears might remain active near the USD 0.55 resistance zone.
BNB tested the key USD 300 support zone. It is now correcting higher and trading above USD 305.
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