14 Sep 2022 · 2 min read

Bitcoin Price and Ethereum Struggle, CEL and RVN Surge

  • Bitcoin price is consolidating above $20,000.
  • Ethereum is struggling near $1,600, XRP is well below $0.35.
  • CEL surged nearly 20%, and RVN is again pumping.

Bitcoin price found support near the $20,000 level after a strong decline. BTC is currently (11:10 UTC) consolidating above $20,000. It could start a fresh increase if there is a clear move above $20,800.

Similarly, most major altcoins are consolidating near support zones. ETH is struggling to stay above the $1,600. XRP might decline and test the $0.32 support. ADA is facing resistance near $0.48 and $0.482.

Bitcoin price

After a strong decline, bitcoin price found support near the $20,000 zone. BTC remained well bid above the $20,000 zone and recently started a consolidation phase. It managed to correct a few points above the $20,250 level. On the upside, the price is facing resistance near the $20,500 level. The next major resistance is now near the $20,800 level, above which the price could start a decent increase.

On the downside, an initial support is near the $20,050 level. The next major support is near the $20,000 zone, below which the price could start another strong decline.

Ethereum price

Ethereum price managed to stay above the $1,550 support zone. ETH started an upside correction and traded above the $1,580 level. It even climbed above $1,600, but it is struggling to gain bullish momentum. The first major resistance is near $1,620. The next major resistance is near $1,650, above which the price may perhaps rise to $1,700.

If not, the price might start another decline towards the $1,550 level. The next major support is $1,500, below which price could gain bearish momentum.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) settled well below the $0.50 level. The price is now struggling to recover above the $0.48 level. If there is no upside break, the price may perhaps decline towards the $0.45 level.

BNB is slowly recovering losses and trading near the $280 level. An immediate resistance is near the $282 level. The first major resistance is near $288, above which the price could rise towards the $300 level.

Solana (SOL) declined over 12% and tested the $32.65 level. It is now trading near $33.50 level. The next major support sits near the $32.50 level. On the upside, the bears might remain active near the $35.00 level.

DOGE is consolidating above the $0.060 level. A downside break and close below the $0.060 level could spark a sharp decline. In the stated case, the price might slide towards the $0.0565 level.

XRP price is consolidating near the $0.335 level. If there are more downsides, the price could slide and test the $0.32 support. The next major support is $0.305.

Other altcoins market today

Many altcoins are down over 10%, including LUNA, USTC, LUNC, HNT, APE, AVAX, EOS, NEAR, FTT, GMT, and ATOM. Out of these, LUNA dived over 30% and traded below the $3.0 level.

To sum up, bitcoin price is consolidating above the $20,000 level. If BTC stays above $20,000, it could recover towards $21,200. If not, it might dive to $18,500.

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