Bitcoin Price and Ethereum Recover, Altcoins Reverse Most Losses

cryptonews.com:

Bitcoin price traded to a new monthly low near $18,250 before it started an upside correction. BTC is currently (03:10 UTC) trading above $19,200. The price must settle above $19,500 and $19,620 to continue higher.

Similarly, most major altcoins started a decent upside correction. ETH recovered above the $1,350 resistance zone. XRP outperformed with a strong move above the $0.365 resistance. ADA is consolidating near the $0.45 zone.

After a brief spike below $18,500, bitcoin price found support. BTC formed a base near the $18,250 level and started an upside correction above the 50-hour simple moving average. There was a decent upward move above the $19,000 and $19,200 levels. The price is now facing a strong resistance near the $19,500 and $19,620 levels. If there are more gains, the price might rise towards the $20,200 resistance zone.

On the downside, an initial support is near the $19,350 level and the 50-hour simple moving average. The next major support is near the $18,870 zone, below which the price could even test the $18,250 support zone.

Ethereum price found support near the $1,275 level. ETH started an upside correction above the $1,300 and $1,320 resistance levels. There was a move above a connecting bearish trend line on the hourly chart at $1,350. The price is now struggling to settle above the $1,380 level and the 50-hour simple moving average. The next major resistance is now forming near the $1,410 level.

If there is a fresh decline, the price might slide below the $1,355 support. The next major support is $1,320, below which price could revisit $1,275.

Cardano (ADA) is currently consolidating near the $0.450 zone. If the price settles above $0.450 and $0.455, it could start a decent recovery wave.

BNB remained