20 Sep 2022 · 2 min read

Bitcoin Price and Ethereum Struggle Into Bottom of Resistance Zone, XRP Outperforms

  • Bitcoin price is struggling to clear the $19,620 resistance zone.
  • Ethereum failed to clear $1,400, XRP is again rising towards the $0.40 resistance.
  • APE and XLM are up over 8%.

Bitcoin price started an upside correction above the $19,000 level. BTC is currently (11:10 UTC) struggling to clear the $19,620 resistance. A clear move above $19,620 might send the price towards $20,000 or even higher.

Similarly, most major altcoins are facing hurdles. ETH is facing resistance near the $1,390 and $1,400 levels. XRP outperformed and might soon test the $0.40 resistance. ADA is struggling to gain momentum above the $0.45 zone.

Bitcoin price

After a recovery wave above the $19,000 zone, bitcoin price spiked above the $19,500 resistance. However, BTC struggled to clear the $19,620 resistance zone. It slowly moved lower below the $19,500 level and the 50-hour simple moving average. On the downside, an initial support is near the $19,100 level. The next major support is near the $18,870 zone, below which the price could revisit $18,250 support zone.

On the upside, the price is facing resistance near the 50-hour simple moving average. The next major resistance sits near the $19,500 zone, above which the price might rise towards the $20,200 resistance zone.

Ethereum price

Ethereum price also followed a similar pattern above the $1,320 level. ETH cleared the $1,350 resistance and the 50-hour simple moving average. However, the bears were active and the price failed to test the $1,400 resistance zone. If there is a fresh decline, the price might test the $1,345 support. The next major support is $1,320, below which price could revisit $1,275.

On the upside, there is a bearish trend line with resistance at $1,365. The next major resistance is now forming near the $1,400 level.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is currently struggling to settle above the $0.450 zone. The next major resistance is near $0.465, above which the price may perhaps accelerate higher.

BNB is up over 3% and is slowly moving higher towards the $272 level. The next key hurdle sits near the $275 level, above which the bulls might aim a move towards the $280 level in the near term.

Solana (SOL) is rising and approaching the $32.50 resistance. Any more gains might open the doors for a move towards the $33.20 level. If not, it could revisit the $30.50 level.

DOGE is climbing higher above the $0.0580 level. An immediate resistance is near the $0.0595 level, above which the price could even clear $0.0600.

XRP price is up over 8% and there was a move above the $0.480 resistance. If the bulls remain in action, the price might soon test the $0.40 resistance zone in the coming sessions.

Other altcoins market today

A few altcoins up over 4%, including APE, XLM, ALGO, USTC, LDO, LUNA, KAVA, QNT, KSM, CRV, FTT, and CAKE. Out of these, APE rallied over 10% and cleared the $5.75 level.

To sum up, bitcoin price is struggling to surpass the $19,500 and $19,620 resistance levels. If BTC stays below $19,620, it could soon start a fresh drop towards the $18,500 level.

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