Bitcoin and Ethereum Consolidate Losses, Recovery Could Be Limited

cryptonews.com:

Bitcoin price declined heavily below the USD 19,500 support. BTC even settled below the USD 19,000 level. It is currently (11:20 UTC) consolidating losses above the USD 18,500 level, with slim chances of a recovery wave.

Similarly, most major altcoins are consolidating losses. ETH is stuck near USD 1,500 with hurdles near USD 1,550. XRP is trading in a range above the USD 0.32 level. ADA remained stable above the USD 0.45 support.

After a sharp bearish wave, bitcoin price found support near the USD 18,500 level. BTC started a consolidation phase above the USD 18,500 support. If there is an upside correction, the price might struggle near USD 19,200. The next major resistance is near the USD 19,500 level, above which the price could start a recovery wave.

On the downside, an initial support is near the USD 18,500 level. The next major support is near the USD 18,000 zone, below which the price could accelerate lower.

Ethereum price also followed a similar path and declined heavily below USD 1,600. ETH even spiked below the USD 1,500 level. It is now consolidating above the USD 1,500 level. On the upside, an immediate resistance is near the USD 1,550 level. The next major resistance is near USD 1,600, above which the price may perhaps start a decent increase.

On the downside, an initial support is near the USD 1,490 level. The next major support is USD 1,450, below which price could even test USD 1,420.

Cardano (ADA) dived and tested the USD 0.45 support. If there is a fresh increase, the price might face sellers near the USD 0.472 level. The next major resistance is near the USD 0.48 level.

BNB declined below the USD 265 support. It is now stable and consolidating losses above USD 262. If there are more losses, the bears might