15 Sep 2022 · 2 min read

Bitcoin Price and Ethereum Relatively Muted, GLM Starts Fresh Rally

  • Bitcoin price is consolidating near $20,000.
  • Ethereum is struggling to settle above $1,620, XRP might revisit $0.35.
  • GLM climbed over 20%, and ETC is up nearly 8%.

Bitcoin price stayed above the $19,500 support zone. BTC is currently (12:20 UTC) consolidating near the $20,000 level. To start a fresh increase, the bulls must push the price above the $20,500 resistance zone in the near term.

Similarly, most major altcoins might attempt a fresh increase. ETH is slowly moving lower towards the $1,550 support zone. XRP is stable near $0.335 and might rise towards $0.35. ADA is aiming a move towards the $0.50 resistance zone.

Bitcoin price

After a bearish reaction, bitcoin price managed to stay above the $1,900 support zone. BTC corrected higher and moved above $20,000. However, the bulls are now facing a strong resistance near the $20,400 and $20,500 levels. The next major resistance is now near the $20,800 level, above which the price could rise towards the $21,200 level.

Source: CoinMarketCap

On the downside, an initial support is near the $20,000 level. The next major support is near the $19,550 zone, below which the price drop 5%-8%.

Ethereum price

Ethereum price struggled to stay above the $1,620 level. ETH declined below the $1,600 level and is currently moving lower. The next major support is $1,550, below which price could accelerate lower. In the stated case, the price might test $1,500 in the coming sessions.

On the upside, an immediate hurdle is near the $1,620 level. The next major resistance is near $1,650, above which the price could gain bullish momentum.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is now consolidating near the $0.465 level. An immediate resistance is near the $0.48 level. The main hurdle is near the $0.50 level, above which the price might start a steady increase and revisit the $0.52 resistance zone.

BNB is struggling to clear the $280 and $282 resistance levels. The next major resistance is near the $292 level, above which the price could rise steadily towards the $300 level.

Solana (SOL) is stable near the $33.20 level. It is slowly moving higher towards $34. The first major resistance is near the $35 level, above which it could test the $33.65 resistance.

Source: CoinGecko

DOGE is still consolidating above the $0.060 level. If the price stays above the $0.060 support, it could start a fresh increase. An immediate resistance is near $0.0620, above which the price could rise and test $0.065.

XRP price is still stuck near the $0.335 level. It seems like the bulls are preparing for a move towards the $0.35 and $0.355 levels in the near term. If not, it could revisit the $0.32 support.

Other altcoins market today

A few altcoins are showing positive signs, including GLM, CEL, ETC, LEO, LDO, KNC, LUNA, ATOM, COMP, ZEC, SOL, APE, and GRT. Out of these, GLM gained over 20% and traded above the $0.375 level.

Source: CoinMarketCap

To sum up, bitcoin price is consolidating near the $20,000 level. If the bulls remain in action, BTC might attempt a fresh wave towards the $21,200 level.

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