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Bitcoin Price and Ethereum Prediction – Can BTC Fall Below $19,300?

Arslan Butt
Last updated: | 2 min read

On October 20, the Bitcoin price is trading slightly higher after recovering from the $18,990 double-bottom support level. In contrast, Ethereum fell nearly 1% to $1,293 during the early Asian session.

Major cryptocurrencies were trading in the negative zone today, with the global crypto market capitalization falling over 1% to $915 billion on the previous day. DeFi had a total volume of $3.3 billion, while the total volume of stablecoins was over $41 billion.

Top Altcoin Gainers and Losers

The top performers in the Asian session were TerraClassicUSD (USTC), Chain (XCN), and Aptos (APT). The TerraClassicUSD (USTC) gain more than 11% to $0.038, while the XCN price has risen by over 8% to $0.067.

Cryptocurrency Market Heatmap | Source: Coin360

The Casper (CSPR) price has fallen by more than 6% in the last 24 hours to $0.041. The price of Quant has dropped more than 6% to around $10.04.

Bitcoin Price 

The current Bitcoin price is $19,150, and the 24-hour trading volume is $23 billion. Bitcoin has fallen by less than 1% in the last 24 hours. CoinMarketCap currently ranks first, with a live market cap of $367 billion. 

Bitcoin Price & Tokenomics – Source: coinmarketcap

As we discussed in our previous Bitcoin price prediction, the BTC/USD pair has broken through the symmetrical triangle pattern that had been extending strong support near $19,300. Furthermore, Bitcoin closed a couple of red candles outside of the symmetrical triangle, confirming the breakout pattern. However, Bitcoin has risen above the $18,990 support level. 

On the upside, Bitcoin may struggle to break through the $19,300 support level to become a resistance level. If BTC fails to break through this level, the price will almost certainly fall. Thus, keep an eye on $19,300; above this level, buying can be seen until $19,500 or $19,940.

Bitcoin Price Chart – Source: Tradingview

The RSI and MACD remain in a selling zone, supporting investors’ bearish bias. Alongside, the 50-day moving average is also supporting a downtrend. 

If BTC falls below $19,250, it may return to the previous triple-bottom support near $18,900. A second breach could send BTC to $18,700. On the upside, resistance is still located near $19,450. If the price exceeds $19,650, investors will likely consider buying until $19,950. 

Ethereum Price 

The current price of Ethereum is $1,291, with a 24-hour trading volume of $8.7 billion. In the last 24 hours, Ethereum has plunged over 1%. CoinMarketCap now ranks #2, with a live market cap of $157 billion.

Ethereum Price & Tokenomics – Source: coinmarketcap

On the technical front, the ETH/USD pair has broken through an ascending triangle pattern on the lower side. It provided immediate support for nearly $1,292. However, after falling to $1,273, the double bottom area, Ethereum began to rise. The 50-day moving average is now likely to provide additional resistance near the $1,306 level.

Ethereum Price Chart – Source: Tradingview

On the plus side, the major resistance levels for Ethereum remain at $1,325 and $1,341. While support continues to stay at $1,275 or $1,242 levels. 

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Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews