A major crypto market crash has been witnessed since the beginning of 2022 which is still ongoing. The effect of this is that yet Bitcoin is trading at $19,000 and is trying to break through the $19,500 barrier. The United States Federal Reserve raised interest rates to 3.25 percent, adding to the selling pressure, thus increasing the chances of Bitcoin falling below $18,000.
Many altcoins experience market declines on the Bitcoin falls. ADA is gradually coming down the $0.45 level. If it falls further below $0.432, it could gain bearish momentum. ETH extended its decline and even went below the $1300 level. XRP is consolidating its gains and may move towards $0.425 with this bullishness.
BTC and ETH prices
Bitcoin is on the downside after breaking below the $19,500 resistance. BTC is pushed down from the $19,250 level and it also got declined in the 50-hour simple movement average. The price even rose down to $18,380 and then reached the $18,150 support zone.
With an immediate resistance of $18,780, the price is getting higher. If the price breaks above the major resistance level near $19,000, it may reach $19,500. Bitcoin may find initial supports on the downside near the $18,380 level, another near the $18,150 zone, and then the price may fall to $17,800 after support zones.
Ethereum price started to fall sharply from the $1,410 resistance zone. It traded at $1,300 after falling more than 5% and the price broke below the 50-hour simple moving average. It’s going higher after crossing the $1,220 resistance.
On the upside, the price is going to tackle with resistance at the levels of $1,315, $1,345, and $1,350. On the other side, $1,240 and $1.220 are bearish support areas respectively. After that ETH could test $1.165.
ADA, BNB, SOL, and DOGE prices
Cardano (ADA) price is falling below the $0.45 mark. After bearing down from its current value of $0.432, it may test $0.42.
Binance Coin (BNB) broke below the $268 level and is heading lower. The next major support is near $255 and expectedly, it could go higher to the $262 support.
Gradually, Solana (SOL) is quickly moving below the $30.50 level. Overcoming major support at $30.20 and $350.00 could extend its momentum downwards.
DOGE is expected to reach the $0.0550 level after falling from $0.0580. If it fails to do so, it will move towards the $0.060 resistance zone.