03 Oct 2022 · 2 min read

Bitcoin Price and Ethereum Bears Keep Pushing, LUNC Could Rally Again

  • Bitcoin price is consolidating above $19,000.
  • Ethereum struggled to clear $1,350, XRP is down 5% and trading below $0.45.
  • LUNC is holding gains and might start a fresh rally.

Bitcoin price failed to stay above the $19,500 level. BTC is currently (03:10 UTC) consolidating above the $19,200 level. A downside break and close below $19,000 might start another drop to $18,500 or even $18,250.

Similarly, most major altcoins are showing a few bearish signs. ETH is consolidating below the $1,320 resistance zone. XRP declined below the $0.455 and $0.450 support levels. ADA is struggling to stay above $0.42.

Bitcoin price

This past week, bitcoin price attempted a fresh increase above the $19,600 resistance. BTC even spiked above the $20,000 level. However, there was no upside continuation above the $20,000 level. As a result, there was a fresh bearish reaction and the price declined below $19,500 and the 50-hour simple moving average. On the downside, an initial support is near the $19,000 level. The next major support is near the $18,500 zone, below which the price could drop to $18,250.

If there is a fresh increase, the price might face resistance near $19,600. The next major resistance is near $20,000, above which the price might test the $20,500 zone.

Ethereum price

Ethereum price also started fresh decline after it failed to clear the $1,350 resistance zone. ETH declined below the $1,320 support and the 50-hour simple moving average. It is now trading below $1,300, with an initial support at $1,280. The next major support is $1,255, below which price could gain bearish momentum.

On the upside, the price is facing resistance near the $1,310 level and the 50-hour simple moving average. The next major resistance is near the $1,350 level, above which the price could visit the $1,400 resistance.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) settled well below the $0.45 level. The price declined below $0.435 and is currently struggling to stay above $0.42. The next major support sits at $0.405.

BNB is consolidating near the $285 level. If there is a fresh increase, the price might test the $295 and $300 resistance levels. Conversely, it could decline to $272.

Solana (SOL) is moving lower towards the $32 level. If there is a downside break below $32, the price might decline towards $30.50. The next major support is $30.00.

DOGE is slowly moving lower below the $0.0600 level. If the bears remain in action, the price may perhaps decline towards the $0.0585 level in the near term.

XRP price slowly moved below the $0.45 support. If there are more losses, the price may perhaps test $0.432. On the upside, the $0.465 presents a major hurdle.

Other altcoins market 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 trading in an uptrend and might pump again.

Overall, bitcoin price is struggling to stay above the $19,000 support. If BTC drops below $19,000, there is a risk of a fresh bearish wave.

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