Home Cryptocurrency Bitcoin and Ethereum Consolidate Losses, Recovery Could Be Limited

Bitcoin and Ethereum Consolidate Losses, Recovery Could Be Limited

by Lottar


  • Bitcoin price consolidates losses above USD 18,500.
  • Ethereum may recover to USD 1,550, XRP holds the USD 0.32 support.
  • HNT rose more than 12% and points to more benefits.

Bitcoin price dropped a lot below the USD 19,500 support. BTC even settled below the USD 19,000 level. It is currently (11:20 UTC) consolidating losses above the USD 18,500 level, with slim chances of a recovery wave.

Likewise, most major altcoins are consolidating losses. ETH is stuck near USD 1,500 with hurdles near USD 1,550. XRP is trading in a range above the USD 0.32 level. ADA remained stable above the USD 0.45 support.

Bitcoin price

After a sharp bearish wave, bitcoin price found support near the USD 18,500 level. BTC started a consolidation phase above the USD 18,500 support. If there is an upward correction, the price may struggle near USD 19,200. The next major resistance is near the USD 19,500 level, above which the price may start a recovery wave.

On the downside is an initial support near the USD 18,500 level. The next major support is near the USD 18,000 zone, below which the price may accelerate lower.

Ethereum price

Ethereum price also followed a similar path and fell heavily below USD 1,600. ETH even rose below the USD 1,500 level. It is now consolidating above the USD 1,500 level. On the upside, an immediate resistance is near the USD 1,550 level. The next major resistance is near USD 1,600, above which the price may start a decent rally.

On the downside is an initial support near the USD 1,490 level. The next major support is USD 1,450, below which the price may even test USD 1,420.

ADA, BNB, SOL, DOGE and XRP price

Cardano (ADA) dived and tested the USD 0.45 support. If there is a new increase, the price may face sellers near the USD 0.472 level. The next major resistance is near the USD 0.48 level.

BNB dropped below the USD 265 support. It is now stable and consolidating losses above USD 262. If there are more losses, the bears may target a test of USD 255 or even USD 250 in the near term.

Solana (SOL) holds the USD 30 support. If the bulls fail to protect the USD 30.00 support, there is a risk of a move to the USD 28 support. The next major support is seen near USD 26.50.

DOGE settled below the USD 0.060 support. The price is now attempting a recovery wave and facing resistance near USD 0.060. A close above USD 0.060 could initiate a steady rise to USD 0.0620.

XRP price is stable above the USD 0.32 support. If there is a downside break below USD 0.32, the price may drop to the USD 0.305 level. The key support is USD 0.30.

Other altcoins market today

Many altcoins trade in the red zone, including DOT, MATIC, AVAX, ETC, UNI, LTC, LINK, THETA, ZEC, HT and GRT. Conversely, HNT rose more than 12% and surpassed the USD 4.20 level.

To summarize, bitcoin price is struggling to stay above the USD 18,500 support. If BTC recovers, it may face sellers near the USD 19,200 level.

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