Bitcoin Price and Ethereum Primed for Gains, XRP Starts Fresh Rally
Bitcoin price settled above the $19,000 level. BTC is currently (03:10 UTC) consolidating above the $19,200 level. A clear move above the $19,500 and $19,600 resistance levels might spark a fresh increase.
Similarly, most major altcoins might start a decent increase. ETH seems to be aiming an upside break above $1,340 and $1,350. XRP gained pace and cleared the $0.48 resistance zone. ADA is still stuck near the $0.435 level.
Yesterday, bitcoin price started a recovery wave above the $19,000 level. BTC even settled above the $19,200 level and the 50-hour simple moving average. However, the price is facing a major resistance near the $19,600 zone. A clear move above $19,600 might send the price to $20,000. The next major resistance is near $20,500, above which the price might revisit the $21,200 zone.
On the downside, an initial support is near the $19,260 level and the 50-hour simple moving average. The next major support is near the $19,000 zone, below which the price could drop to $18,500.
Ethereum price also started fresh increase and was able to clear the $1,300 level. It even settled above the $1,320 level and the 50-hour simple moving average. On the upside, the price is facing resistance near the $1,340 level and a contracting triangle on the hourly chart. The next major resistance is near the $1,350 level, above which the price could visit the $1,400 resistance.
On the downside, an initial support is near the $1,315 level. The next major support is $1,300, below which price could drop to $1,255.
Cardano (ADA) is stable near the $0.435 level. An immediate resistance is near $0.442. The first major resistance is near the $0.45 zone, above which the price could gain bullish momentum.
BNB is slowly moving higher towards the
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