Etheruem Bearish Turn Could Drag Bitcoin Lower, ATOM and GLM Rally

• Bitcoin price could dive below the $19,500 support.
• Ethereum declined over 10% and traded below $1,500, $XRP is approaching $0.32.
• $ATOM and $GLM are up over 10%, and $LUNC is rising again.

Bitcoin price remained well below the $20,500 resistance zone. $BTC is currently (03:30 UTC) trading below the $20,000 support zone. A downside break below $19,500 might start a major decline in the near term.

Similarly, most major altcoins are struggling to start a fresh increase. $ETH started a major decline and traded below the $1,500 support. $XRP is moving lower towards the $0.32 support. $ADA might revisit the $0.45 support zone.

Bitcoin price

After many failed attempts, bitcoin price settled below the $20,000 support zone. $BTC even moved below the $19,800 level and the 50-hour simple moving average. It is now consolidating above the $19,500 support zone. The next major support is near the $19,350 zone, below which the price could even test the $18,800 support zone.

Chart Source: Tradingview

On the upside, the price is facing resistance near $19,880. The next major resistance is now near the $20,000 level and the 50-hour simple moving average, above which the price could start a decent increase.

Ethereum price

Ethereum price struggled to clear the $1,650 and $1,655 resistance levels. As a result, there was a sharp bearish reaction after the merge completed. $ETH declined heavily below the $1,600 level and the 50-hour simple moving average. It even broke the $1,500 level and tested the $1,460 support. The next major support is $1,420, below which price could revisit $1,350.

Chart Source: Tradingview

On the upside, an immediate resistance is near the $1,500 level. The next major resistance is now forming near the $1,560 level.

$ADA, $BNB, $SOL, $DOGE, and $XRP price

Cardano ($ADA) failed to clear the $0.48 resistance zone. It reacted to the downside and traded below $0.465. Any more losses might send the price towards the $0.45 support.

$BNB is consolidating near the $272 support zone. If there is a downside break, the price may perhaps decline towards the $265 support. The next major support sits at $250.

Solana ($SOL) is again moving lower towards the $32.20 support. If the bears remain in action, the price could even test the $30.50 level. Conversely, it might rise and test the $34.50 resistance.

$DOGE traded below the key $0.060 support level. The next major support is near the $0.0580 level, below which the price may perhaps test the $0.0565 level in the coming sessions.

$XRP price is moving lower towards the $0.32 support zone. If the bulls fail to protect the $0.32 support zone, there is a risk of a move towards the $0.305 level or even $0.30.

Other altcoins market today

A few altcoins are in the green zone, including $ATOM, $GLM, $LUNC, CHZ, KNC, QNT, LINK, NEO, USDN, GMT, and LDO. Out of these, $ATOM rallied over 12% and cleared the $15.10 level.

Overall, bitcoin price is struggling to stay above the key $19,500 support. If $BTC fails to stay above $19,500, it could soon test the $18,500 level.