Bitcoin and Ethereum Prices Today Continue To Fail, XRP Zooms 20%

Analysing the Nature and Prospects of CBDCs in 2023

Bitcoin price attempted a recovery wave above $19,200 but struggled. BTC is currently (11:00 UTC) moving lower towards the $18,800 support. A downside break below $18,800 might start a fresh decline.

Similarly, most major altcoins are correcting gains. ETH topped near $1,360 and started a downside correction. XRP price rally faced sellers near $0.58. ADA is struggling to stay above the $0.45 support zone.

Bitcoin price

Earlier today, bitcoin price started an upside correction above the $19,200 level. BTC attempted to gain strength above the $19,500 resistance. However, the bears were active near $19,500. The price is now moving lower below the $19,200 level and the 50-hour simple moving average. An immediate resistance is near the $19,200 level and connecting bearish trend line. The next major resistance is near $19,500, above which the price might start a steady increase.

On the downside, an initial support is near the $18,800 level. A close below the $18,800 level could start a strong decline. The next major support is near the $18,380 zone, below which the price could move to $18,000.

Ethereum price

Ethereum price also started a recovery wave above the $1,320 resistance zone and the 50-hour simple moving average. ETH faced sellers near the $1,360 level. The price started a downside correction and traded below $1,320. It is now trading near the $1,290 level and a bullish trend line on the hourly chart. The next major support is $1,260, below which price could test $1,220.

On the upside, the price is facing resistance near the $1,320 level. The next major resistance is now forming near the $1,350 and $1,360 levels.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) failed to clear the $0.465 resistance. The price is now moving lower and trading below the $0.455 level. If the bears push the price below $0.45, there might be a strong decline.

BNB is stable the $272 resistance. If the bulls remain in action, they could lead the price above the $275 resistance. If not, the price might decline towards the $265 support.

Solana (SOL) failed to clear the $33.50 resistance. There was a downside correction below the $32.50 level. The next major support sits near the $30.50 and $30.20 levels.

DOGE is still attempting to clear the $0.060 resistance zone. A close above the $0.0600 level might start a move towards the $0.0620 level or even $0.0632.

XRP price surged above the $0.50 resistance level. It even broke the $0.55 level before the bears appeared. The price is now correcting gains and trading below $0.50. The main support sits at $0.45.

Other altcoins market today

Many altcoins are still in the green zone, including RSR, CRO, CHZ, COMP, XDC, XLM, AXS, CAKE, THETA, and ZEC. Out of these, RSR rallied over 30% and cleared the $0.0075 level.

To sum up, bitcoin price failed again to clear the $19,500 resistance. If BTC stays below $19,500 for a long time, there could be a strong decline to $18,000.

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