Bitcoin and Ethereum Trim Gains After Strong Jump, AR and AMP Rally

cryptonews.com:

Bitcoin tested the USD 18,800 support zone, where the bulls emerged and pushed the price above USD 20,500 before going lower again. BTC is currently (04:09 UTC) trading near USD 19,600 and is still down 3% in a day and almost 5% in a week.

Similarly, most major altcoins recovered losses but are also trimming their gains. ETH tested the USD 1,000 zone and climbed above USD 1,080 before dropping again. XRP recovered and climbed above the key USD 0.32 level. ADA is moving lower toward the USD 0.45 level again.

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After a close below USD 20,000, bitcoin price gained bearish momentum and it even spiked below the USD 18,800 level, but the downsides were limited. A base was formed near USD 18,650 and the price started a strong recovery wave. It climbed back above the USD 20,000 pivot level and tested USD 20,500 before dropping sharply below USD 20,000 again.

On the downside, an initial support is near the USD 19,500 level. The next major support is near the USD 19,200 zone, below which the price could revisit USD 18,800.

Ethereum price remained stable near the USD 1,000 support. A base was formed and ETH started a recovery wave above the USD 1,050 level, tested USD 1,100, but dived to USD 1,050 again. ETH is down 4% in a day and over 5% in a week.

If there is no upside break, the price might dip below USD 1,050. The next major support is near USD 1,000, below which the price could take a hit.

Cardano (ADA) spiked below the USD 0.45 level and tested USD 0.435. There was a recovery wave and the price is now above USD 0.45, but the bears are pushing the price lower again.

BNB remained above the USD 205 level before rallying above the USD 225 level. However, BNB dropped alongside other coins and is now struggling