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Bitcoin falling again below 19 thousand dollars; What are the most important price supports and resistances?

سقوط دوباره بیت کوین به زیر ۱۹هزار دلار؛ مهمترین حمایت‌ها و مقاومت‌های قیمت چیست؟

Bitcoin made a failed attempt to break through the $20,000 resistance yesterday. Although the price briefly fluctuated above $20,000, this trend did not last long and the market quickly corrected the price below $19,000. Currently, there are some bearish signs on the Bitcoin chart and the price is testing the $18,500 support.

To Report Crypto News, most popular altcoins in the market have also experienced a sharp fall like Bitcoin. Having missed the $1,300 support, Ethereum is now trading at $1,280. Ripple has lost more than 12% in the last 24 hours and is currently hovering near its $0.42 support. Like Ripple, Cardano is not far from the $0.42 support.

Bitcoin price analysis

Yesterday, with Bitcoin reaching above $19,500, buyers tried to increase the price even more. Bitcoin managed to break through the $20,000 resistance and break the 50-hour simple moving average (MA 50 – purple line in the image) to the upside as well. However, as the price approached $20,500, sellers were also increasing their pressure.

Further, after registering a new seasonal peak, the price took a downward trend and quickly fell below $20,000. Bitcoin lost more than 8% of its value in less than 12 hours, breaking below the $19,000 support.

If the downtrend continues, the closest support in front of the price is the $18,500 level. The next support is at $18,350, and breaking it could send Bitcoin down to the critical $17,500 level.

Bitcoin falling again below 19 thousand dollars;  What are the most important price supports and resistances?
Bitcoin price chart (click on the image to view the original size).

On the other hand, if the trend continues to change and become bullish, Bitcoin will face resistance at the $19,000 level. The next key resistance is $19,150, and a break through it could lead to a continuation of the uptrend.

Ethereum price analysis

Ethereum has followed a similar pattern to Bitcoin and failed to stay above the $1,400 resistance the previous day. Further, the downward trend caused the price to fall below the support of $1,350 and then $1,300 and the 50-hour simple moving average.

If the downtrend continues like this, the closest support ahead of the price level will be $1,265. The next key support is $1,255, followed by $1,200.

Bitcoin falling again below 19 thousand dollars;  What are the most important price supports and resistances?
Ethereum price chart (click on the image to view the original size).

On the other hand, if the market trend continues to rise, the closest resistance in front of Ethereum will be $1,300. $1,320 and $1,350 also act as the next resistances in front of the price.

Altcoins price analysis

Cardano After its failed attempt to cross $0.465, it started a fresh bearish correction. This move was accompanied by a loss of support at $0.45, and if the price decline continues, $0.42 is the next target for sellers.

Binance Coin It has lost more than 5% of its value in the last 24 hours, and its sellers are looking to break the $265 support. If this digital currency fails to maintain its position above this level, the price may further fall to $255.

Solana It has experienced a 7% drop overnight and is now trading below $33. Sellers are now trying to break the $32 support, and if that happens, the price may drop as low as $31.20.

Dogecoin By falling below $0.060, it has opened a new bearish movement, and if this trend continues, the price may go down to $0.058.

Ripple With its 12% drop in the last 24 hours, it is now hovering below $0.45, not far from breaking the $0.42 support; An event that can lead to the continuation of the downward trend in the market of this digital currency.

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