Bitcoin Price and Ethereum Eye Crucial Bullish Break
- Bitcoin price is eyeing an upside break above $19,650.
- Ethereum could rally above $1,350, XRP is struggling to clear $0.45.
- DCR is up over 10%, and HNT is gaining bullish momentum.
Bitcoin price recovered above the $19,000 and $19,200 levels. BTC is currently (10:30 UTC) eyeing an upside break above the $19,650 resistance. If bulls succeed, the price could rally 5%-8% in a short amount of time.
Similarly, most major altcoins may start a fresh rally as well. ETH is consolidating above $1,300 and may climb higher above $1,350. XRP is still facing resistance near the $0.45 zone. ADA is consolidating near the $0.435 level.
Recently, bitcoin started a recovery wave above the $19,200 resistance. BTC even settled above the $19,200 level and the 50-hour simple moving average. However, the price seems to be facing strong resistance near the $19,650 and $19,700 levels. The next major resistance is near $20,000, above which the price may consolidate before moving higher.
If there is no upside break above $19,650, the price may fall back down to the lower support. On the downside, initial support is near the $19,300 level. The next major support is near the $19,000 zone, below which the price may fall to $18,500.
Ethereum price climbed higher above the $1,300 resistance zone. ETH even cleared the $1,320 level and the 50-hour simple moving average. It is now struggling to clear the $1,340 level and a connecting bearish trend line on the hourly chart. The next major resistance is near the $1,350 level, above which the price could revisit the $1,400 resistance.
If ether price fails to clear the trend line resistance, it could correct lower. On the downside, initial support is near the $1,308 level. The next major support is $1,280, below which price could revisit $1,255.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is still consolidating near the $0.435 level. If there is a fresh rally, it might test the $0.45 resistance zone. If that fails, the price could drop and test $0.42.
BNB is trading in a range near the $282 level. Immediate resistance is near $285. The next major resistance is near the $288 level, above which the price could rise to $295.
Solana (SOL) is slowly moving higher towards the $34.20 resistance. If current momentum continues, price could reach the $35 level. On the downside, there is a decent support near $32.50.
DOGE is consolidating above the $0.0600 level. Immediate resistance is near the $0.062 level. If bulls are unable to push it higher, DOGE could drop and revisit $0.0565.
XRP price is slowly moving higher towards the $0.45 resistance. A clear upside break above $0.45 might start a fresh rally higher. In which case, XRP could reach the $0.48 level.
Other altcoins market today
Many altcoins are in the green today, including DCR, HNT, EOS, XEM, SNX, LDO, LUNC, CAKE, KSM, MKR, and CRV. Out of these, DCR is gaining pace above the $27.00 level and might rise further.
To sum up, bitcoin price is consolidating above $19,200. If BTC clears the $19,650 resistance, it could rally to $20,000 if momentum continues.