Bitcoin price chart
After forming a base above the $19,000 zone, bitcoin price was able to gain strength. There was a clear move above the $19,250 resistance zone and the 50-hour simple moving average. The price cleared a short-term contracting triangle at $19,250 on the hourly chart. It is now trading well above the $19,500 resistance. On the upside, the price is facing resistance near the $20,000 level. The next major resistance is near $20,500, above which the price might rise to $20,850. Any more gains might send the price towards $21,200.
On the downside, an initial support is near the $19,500 level. The next major support is near the $19,150 zone, below which the price could struggle to stay above $19,000.
Ethereum price chart
Ethereum price also followed a similar pattern after it was able to clear the $1,335 resistance zone. There was a clear move above a major bearish trend line at $1,335 on the hourly chart and the price settled above the 50-hour simple moving average. ETH is now rising and facing resistance near the $1,380 level. The next major resistance is near the $1,410 level, above which the price could visit the $1,450 resistance.
On the downside, an initial support is near the $1,345 level. The next major support is $1,300, below which price could test $1,250.
Information source:
https://cryptonews.com/news/bitcoin-price-ethereum-gain-strength-lunc-luna-rally.htm
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