Bitcoin Price and Ethereum Prediction – Can BTC Fall Below $19,300?
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.
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.
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.
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.
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.
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.
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.
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.
New Crypto Presales
Along with leading coins, the coins on presale have enormous potential. One of these is IMPT, which is making headlines due to strong presale progress.
Online fundraising is the first step in IMPT.io’s ambition to change the carbon credit business by making carbon offsetting more accessible.
The IMPT coin has already raised $6.2 million from ESG-conscious investors in less than three weeks since its presale began.
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