Bitcoin and Ethereum Hold Crucial Levels, Celsius Rallies
After starting a recovery wave above the USD 20,000 resistance zone, bitcoin is facing a key hurdle near USD 20,500 and USD 21,200. It is currently (04:59 UTC) consolidating above USD 20,500 and is up almost 3% in a day and down 9% in a week.
Similarly, most major altcoins are stuck near key hurdles. ETH is struggling to clear USD 1,140 and USD 1,150. XRP is still consolidating near USD 0.320. ADA struggled to settle above the USD 0.50 resistance.
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Learn more: Bitcoin, Ethereum & Crypto Analysts Search for Bottom as Investors in 'Historically Meaningful Degree' of Pain
After a close above the USD 20,000 level, bitcoin price started trading in a range. BTC attempted an upside break above the USD 21,000 and USD 21,200 levels. However, the bears remained active near the USD 21,200 level. A close above the USD 21,200 level could open the doors for a steady increase in the near term.
On the downside, an initial support is near the USD 19,500 level. The next major support is near the USD 18,800 zone, below which the price could start another decline.
Ethereum price settled above the USD 1,050 level. On the upside, the price is facing resistance near the USD 1,140 and USD 1,150 levels. A close above USD 1,150 might start a steady increase. The next major resistance is near USD 1,220, above which the price could rise towards the USD 1,280 level. ETH is up 4% in a day and down 7% in a week.
On the downside, an immediate support is at USD 1,080. The next major support is near USD 1,050, below which the price could revisit USD 1,000.
Cardano (ADA) gained pace above the USD 0.48 resistance. The bulls even attempted a move above the USD 0.50 level but failed. On the downside, there is a key support forming near
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