28 Sep 2022 · 2 min read

Bitcoin Price and Ethereum Hold Crucial Support, RSR Gains 50% In A Week

  • Bitcoin price stayed above the key $18,500 support.
  • Ethereum is recovering losses from the $1,255 support, XRP spiked below $0.42.
  • RSR rallied over 10% in the past 24 hours and up over 50% this week.

Bitcoin price declined sharply below the $19,500 support zone. BTC found support near the key $18,500 zone. It is currently (11:00 UTC) correcting losses and facing resistance near the $19,300 level.

Similarly, most major altcoins are slowly correcting losses. ETH tested the main $1,255 support and recovered above $1,280. XRP spiked below $0.42 before the bulls appeared. ADA remained stable above the $0.42 support zone.

Bitcoin price

After a major decline below $19,500, bitcoin price found support. BTC remained stable near the $18,500 and $18,450 level. It is slowly recovering losses and trading above the $19,000 level. On the upside, the price is facing resistance near the $19,300 level the 50-hour simple moving average. The next major resistance is near $19,500, above which the price might start a steady increase.

If there is no upside break above $19,500, there might be a fresh decline below $19,000. The main breakdown support is near $18,500, below which the price could start another major decline.

Ethereum price

Ethereum price also followed a similar pattern after it declined below the $1,300 support. ETH remained stable near the $1,265 and $1,255 levels. The price is now recovering losses and trading above the $1,300 level. On the upside, the price is facing resistance near the $1,330 level the 50-hour simple moving average. The next major resistance is near $1,350, above which the price might start a steady increase.

If there is no upside break above $1,330, there might be a fresh decline below $1,285. The next major support is $1,255, below which price could even test $1,200.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) gained pace below the $0.45 support. However, the bulls were active near the $0.425 level. The price is slowly rising, but it is facing many hurdle near $0.44 and $0.45.

BNB tested the $265 support level and remained well bid. It is moving higher and trading near $272. An immediate resistance is $275, above which it could accelerate higher.

Solana (SOL) spiked below the $32 level, but it stayed above the $31.20 support. To start a fresh increase, the bulls must push the price above the $33.20 level.

DOGE is attempting a fresh move above the $0.060 barrier. If the bulls succeed, the price might rise and revisit the $0.0620 resistance zone.

XRP price spiked below the $0.42 support, but downsides were limited. The price is now consolidating losses and might attempt a recovery wave towards the $0.45 resistance zone.

Other altcoins market today

Many altcoins are in the red zone, including ATOM, ZEC, CHZ, CRV, NEO, 1INCH, LDO, ALGO, RUNE, MKR, and KSM. Conversely, RSR and QNT are gaining bullish momentum.

To sum up, bitcoin price is attempting a recovery wave above the $19,000 level. If BTC stays above $18,500, it could rise and recover towards $20,000.

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