Bitcoin price attempted a recovery wave above $19,200 but struggled. BTC is currently (11:00 UTC) moving lower towards the $18,800 support. A downside break below $18,800 might start a fresh decline.
Similarly, most major altcoins are correcting gains. ETH topped near $1,360 and started a downside correction. XRP price rally faced sellers near $0.58. ADA is struggling to stay above the $0.45 support zone.
Earlier today, bitcoin price started an upside correction above the $19,200 level. BTC attempted to gain strength above the $19,500 resistance. However, the bears were active near $19,500. The price is now moving lower below the $19,200 level and the 50-hour simple moving average. An immediate resistance is near the $19,200 level and connecting bearish trend line. The next major resistance is near $19,500, above which the price might start a steady increase.
On the downside, an initial support is near the $18,800 level. A close below the $18,800 level could start a strong decline. The next major support is near the $18,380 zone, below which the price could move to $18,000.
Ethereum price also started a recovery wave above the $1,320 resistance zone and the 50-hour simple moving average. ETH faced sellers near the $1,360 level. The price started a downside correction and traded below $1,320. It is now trading near the $1,290 level and a bullish trend line on the hourly chart. The next major support is $1,260, below which price could test $1,220.
On the upside, the price is facing resistance near the $1,320 level. The next major resistance is now forming near the $1,350 and $1,360 levels.
Cardano (ADA) failed to clear the $0.465 resistance. The price is now moving lower and trading below the $0.455 level. If the bears push theRead more on cryptonews.com