Bitcoin Price and Ethereum Hold Strong, HNT and SNX Rally
Bitcoin price remained strong above the $18,500 support zone. BTC formed a base and started a fresh increase above $19,000. It is currently (03:10 UTC) consolidating above the $19,200 level and eyes more upsides.
Similarly, most major altcoins recovered losses. ETH found support near $1,255 and recovered above $1,320. XRP is eyeing an upside break above the $0.45 resistance zone. ADA is stuck near the $0.435 level.
After a strong decline, bitcoin price found support near $18,500. The hourly chart clearly suggests that the bulls defended the $18,500 support zone on many occasions. BTC started a steady recovery wave above the $19,000 level and the 50-hour simple moving average. The price is now facing resistance near the $19,700 zone. The next major resistance is near $20,000, above which the price might revisit the $20,350 zone.
On the downside, an initial support is near the $19,260 level. The next major support is near the $19,000 zone, below which the price could slide to $18,500.
Ethereum price spiked below the $1,265 support zone, but the bulls were active near the $1,255 level. ETH started a fresh increase and was able to clear the $1,300 level. It even surpassed the $1,320 level and the 50-hour simple moving average. On the upside, the price is facing resistance near the $1,350 level. The next major resistance is near the $1,370 level, above which the price could visit the $1,400 resistance.
On the downside, an initial support is near the $1,305 level. The next major support is $1,255, below which price could gain bearish momentum.
Cardano (ADA) found support near the $0.425 level. The price is now consolidating near the $0.435 level and seems to be aiming a fresh increase towards the $0.45 resistance zone.
BNB is up 5%
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