Bitcoin and Ethereum Consolidate Near Breakdown Support, AAVE Accelerates

cryptonews.com:

Bitcoin price remained below the USD 20,000 pivot level and even spiked below the USD 19,500 support zone, but the downsides were limited. It is currently (11:45 UTC) consolidating near USD 19,800 and is unchanged in a day and down 2% in a week.

Similarly, most major altcoins are also trading in a range above key support. ETH stayed above the USD 1,000 support zone and recovered to USD 1,070. XRP remains at a risk of a drop below USD 0.30. ADA is consolidating near the USD 0.420 support zone.

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After a close below the USD 20,000 level, bitcoin price extended its decline. BTC even broke the USD 19,500 level, but the bulls were active above USD 19,200. The price is now consolidating above the USD 19,500 level. On the upside, an immediate resistance is near the USD 20,000 level. The next major resistance could be USD 20,500, above which the price could attempt a move towards USD 21,200.

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 start another stronger decline.

Ethereum price also spiked below the USD 1,050 support before the bulls appeared. ETH tested USD 1,030 and recovered a few points above USD 1,050. ETH is up almost 1% in a day and down over 5% in a week. It is now facing resistance near the USD 1,100 level while the next major resistance is at USD 1,120, above which the price could start a recovery wave.

If there is no upside break, the price might move down towards the USD 1,030 support. The next major support is near USD 1,000, below which the price could drop further.

Cardano (ADA) traded slightly below the USD 0.42 support zone before recovering. It is now consolidating near the USD 0.43 level.