Bitcoin Price and Ethereum Could Make a Sustained Move Higher
Bitcoin price remained in a range above the $18,900 level. BTC is currently (11:10 UTC) eyeing an upside break above $19,300. If BTC closes above $19,500, there could be a sustained move higher towards $20,000.
Similarly, most major altcoins are eyeing an upside break. ETH is approaching the $1,320 resistance zone, XRP is attempting a fresh rally to the $0.455 level and ADA is consolidating above $0.42.
After a minor decline below $19,000, bitcoin price has now found support above $19,200. It is now facing a decent resistance near the $19,250 zone and the 50-hour simple moving average. There is also a connecting bearish trend line at $19,300 on the hourly chart. The next major resistance is near $19,500, above which the price might test the $20,000 zone.
On the downside, initial support can be found near the $18,900 level. The next major support is near the $18,500 zone, below which the price could fall to $18,000 if selling pressure gains momentum.
Ethereum price briefly spiked below the $1,280 level. ETH tested the $1,260 support zone and is currently consolidating higher. It is now facing resistance near the $1,300 level and a connecting bearish trend line on the hourly chart. The 50-hour simple moving average is also just above the trend line. The next major resistance is near the $1,320 level, above which the price could visit the $1,350 resistance.
On the downside, immediate support is near the $1,280 level. The next major support is $1,260, below which price could retest the $1,200 zone.
Cardano (ADA) is now consolidating above $0.42. If there is a downside break, the price might test $0.405. The next major support sits at $0.400.
BNB is slowly climbing above the $285 level. The first major resistance is near $295,
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