03 Oct 2022 · 2 min read

Bitcoin Price and Ethereum Could Make a Sustained Move Higher

  • Bitcoin price is eyeing an upside break above $19,500.
  • Ethereum is facing resistance near $1,320, XRP could rise again if it clears $0.455.
  • RSR, MKR, and EGLD are up over 5%.

Bitcoin price remained in a range above the $18,900 level. BTC is currently (11:10 UTC) eyeing an upside break above $19,300. If BTC closes above $19,500, there could be a sustained move higher towards $20,000.

Similarly, most major altcoins are eyeing an upside break. ETH is approaching the $1,320 resistance zone, XRP is attempting a fresh rally to the $0.455 level and ADA is consolidating above $0.42.

Bitcoin price

After a minor decline below $19,000, bitcoin price has now found support above $19,200. It is now facing a decent resistance near the $19,250 zone and the 50-hour simple moving average. There is also a connecting bearish trend line at $19,300 on the hourly chart. The next major resistance is near $19,500, above which the price might test the $20,000 zone.

On the downside, initial support can be found near the $18,900 level. The next major support is near the $18,500 zone, below which the price could fall to $18,000 if selling pressure gains momentum.

Ethereum price

Ethereum price briefly spiked below the $1,280 level. ETH tested the $1,260 support zone and is currently consolidating higher. It is now facing resistance near the $1,300 level and a connecting bearish trend line on the hourly chart. The 50-hour simple moving average is also just above the trend line. The next major resistance is near the $1,320 level, above which the price could visit the $1,350 resistance.

On the downside, immediate support is near the $1,280 level. The next major support is $1,260, below which price could retest the $1,200 zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is now consolidating above $0.42. If there is a downside break, the price might test $0.405. The next major support sits at $0.400.

BNB is slowly climbing above the $285 level. The first major resistance is near $295, followed by $300. A sustained rally above this level could see BNB hitting $350.

Solana (SOL) is holding the $32 support level. If there is a fresh move upward, bulls might face resistance near the $33.50 level. The next major resistance on the upside sits at $35.

DOGE is fluctuating near the $0.060 level. Immediate resistance is near the $0.0608 level, above which the price might test $0.0620. The main support sits near the $0.0585 level.

XRP price is struggling to rise above the $0.45 zone. If XRP can consolidate above $0.46, then the price could test $0.48 in the coming week. The next major resistance sits at $0.50.

Other altcoin markets today

A few altcoins are slowly rising, including RSR, MKR, EGLD, UNI, CAKE, BNB, LEO, XTZ, RVN, BNX, and TWT. Out of these, RSR gained over 5% and surpassed the $0.010 level.

Overall, bitcoin price is attempting an upside break above the $19,300 and $19,500 levels. If BTC succeeds, the price could rise towards the $20,500 level.

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