Bitcoin Price and Ethereum Primed for Gains, XRP Starts Fresh Rally
- Bitcoin price is consolidating above $19,000.
- Ethereum could rally if it clears $1,340, XRP gained over 8% and surpassed $0.48.
- XLM and OKB are up over 5%.
Bitcoin price settled above the $19,000 level. BTC is currently (03:10 UTC) consolidating above the $19,200 level. A clear move above the $19,500 and $19,600 resistance levels might spark a fresh increase.
Similarly, most major altcoins might start a decent increase. ETH seems to be aiming an upside break above $1,340 and $1,350. XRP gained pace and cleared the $0.48 resistance zone. ADA is still stuck near the $0.435 level.
Yesterday, bitcoin price started a recovery wave above the $19,000 level. BTC even settled above the $19,200 level and the 50-hour simple moving average. However, the price is facing a major resistance near the $19,600 zone. A clear move above $19,600 might send the price to $20,000. The next major resistance is near $20,500, above which the price might revisit the $21,200 zone.
On the downside, an initial support is near the $19,260 level and the 50-hour simple moving average. The next major support is near the $19,000 zone, below which the price could drop to $18,500.
We reported this week on several bullish Bitcoin price predictions shared by Twitter crypto traders heading into October, since news of the Bank of England switching to a quantiative easing policy broke.
Ethereum price also started fresh increase and was able to clear the $1,300 level. It even settled above the $1,320 level and the 50-hour simple moving average. On the upside, the price is facing resistance near the $1,340 level and a contracting triangle on the hourly chart. The next major resistance is near the $1,350 level, above which the price could visit the $1,400 resistance.
On the downside, an initial support is near the $1,315 level. The next major support is $1,300, below which price could drop to $1,255.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is stable near the $0.435 level. An immediate resistance is near $0.442. The first major resistance is near the $0.45 zone, above which the price could gain bullish momentum.
BNB is slowly moving higher towards the $285 level. The first major resistance is near the $288 level, above which the price could rise towards $295 or even $300.
Solana (SOL) is gaining pace above the $33.50 resistance. It is now approaching the $35 resistance. If the bulls remain in action, the price could clear $35 and rise towards $36.50.
DOGE is consolidating above the $0.0600 level. An immediate resistance is near the $0.062 level. Any more gains might send the price to $0.0632. If not, the price might decline and test the $0.0585 level.
XRP price formed a base and started a fresh rally above the $0.45 resistance. The price cleared the $0.48 resistance and might continue to rise towards the $0.50 level in the near term.
Other altcoins market today
Many altcoins are in the green zone, including XLM, OKB, LUNC, FLOW, EOS, LEO, MATIC, XDC, CELO, TRX, and AXS. Out of these, XLM gained over 5% and cleared the $0.475 level.
Overall, bitcoin price is holding gains above the key $19,000 support. If BTC clears the $19,600 barrier, it could rise towards the $20,000 level or even $20,500.