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As Bitcoin and Ethereum See Bearish Push, Lunc May Rally Again

As Bitcoin and Ethereum See Bearish Push, Lunc May Rally Again

The bitcoin price failed to stay above $19,500. The downside might break and close below $19,000, triggering a further decline below $18,500 or even $18,250.

Indicators are also negative for most of the big cryptocurrencies. As ETH stabilizes below $1,320, it is approaching a resistance level. The price of XRP fell below support levels of $0.455 and $0.450. Finally, the price of ADA is struggling to stay above $0.42.

Last week, bitcoin’s price attempted to break through the $19,600 barrier. There was even a surge in BTC above $20,000. Beyond the $20,000 mark, however, there was no further upward movement. Following this, the price dropped below $19,500 and the 50-hour simple moving average, resulting in a further negative response. 

Ethereum’s price began a new drop after failing to break through the $1,350 barrier zone. A dip in ETH below $1,320 and the 50-hour simple moving average was noted. As it trades below $1,300, it has initially found support at $1,280. The next significant support lies at $1,255, below which the price is expected to decline further.

Are other Cryptos doing well?

Resistance is seen near $1,310, and the 50-hour simple moving average as the price climbs. If the price rises above the $1,350 barrier, the next significant obstacle might reach the $1,400 barrier.

There was a considerable drop in the price of Cardano (ADA). Currently, the price is struggling to maintain above $0.42. Currently, BNB is trading at $285. Hopefully, there isn’t a new rise that will take the price above the $295 and $300 resistance levels. 

SOL’s price has fallen to $32. If a bearish breach occurs below $32, the price may fall to $30.50. At $30, there is another significant level of support. In spite of the $0.45 support level, XRP’s price steadily rose. In the event of further losses, the price might reach $0.432. Positively, $0.465 represents an important obstacle.

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