Bitcoin Price and Ethereum Bears Keep Pushing, LUNC Could Rally Again

cryptonews.com:

Bitcoin price failed to stay above the $19,500 level. BTC is currently (03:10 UTC) consolidating above the $19,200 level. A downside break and close below $19,000 might start another drop to $18,500 or even $18,250.

Similarly, most major altcoins are showing a few bearish signs. ETH is consolidating below the $1,320 resistance zone. XRP declined below the $0.455 and $0.450 support levels. ADA is struggling to stay above $0.42.

This past week, bitcoin price attempted a fresh increase above the $19,600 resistance. BTC even spiked above the $20,000 level. However, there was no upside continuation above the $20,000 level. As a result, there was a fresh bearish reaction and the price declined below $19,500 and the 50-hour simple moving average. On the downside, an initial support is near the $19,000 level. The next major support is near the $18,500 zone, below which the price could drop to $18,250.

If there is a fresh increase, the price might face resistance near $19,600. The next major resistance is near $20,000, above which the price might test the $20,500 zone.

Ethereum price also started fresh decline after it failed to clear the $1,350 resistance zone. ETH declined below the $1,320 support and the 50-hour simple moving average. It is now trading below $1,300, with an initial support at $1,280. The next major support is $1,255, below which price could gain bearish momentum.

On the upside, the price is facing resistance near the $1,310 level and the 50-hour simple moving average. The next major resistance is near the $1,350 level, above which the price could visit the $1,400 resistance.

Cardano (ADA) settled well below the $0.45 level. The price declined below $0.435 and is currently struggling to stay above $0.42. The next