Bitcoin Price and Ethereum Consolidate, Recovery Could Be Capped

cryptonews.com:

Bitcoin price remained in a bearish zone below the $19,000 level. BTC is currently (11:00 UTC) consolidating near the $18,500 level. A short-term recovery wave could face resistance near the $18,865 and $19,000 levels.

Similarly, most major altcoins might face resistance if there is a recovery wave. ETH is now consolidating losses near the $1,300 level. XRP is again attempting a fresh increase to $0.365. ADA is stuck near the $0.435 level.

After a bearish close below $19,000 and the 50-hour simple moving average, bitcoin price extended losses. BTC followed a bearish path and even traded below the $18,500 support. It tested the $18,250 level and recently started a minor upside correction. There was a move above the $18,500 and $18,600 levels. On the upside, the price is facing resistance near $18,865. The next major resistance is now near the $19,050 level and a connecting bearish trend line on the hourly chart.

On the downside, the price might find support near $18,380. The next major support is near the $18,250 zone, below which the price could test the $18,000 support zone.

Ethereum price started a major decline below the $1,400 level and the 50-hour simple moving average. The price even spiked below the $1,300 level before the bulls took a stand. The price is now consolidating above the $1,300 level. The next major support is $1,275, below which price could test $1,220.

On the upside, an immediate resistance is near the $1,325 level. The next major resistance is now forming near the $1,350 level and a bearish trend line on the hourly chart.

Cardano (ADA) settled below the $0.45 level. It is now consolidating near the $0.435 level and might decline towards the $0.42 support.

BNB is trading below the $265 support zone. If