- Bitcoin price started a fresh decline below $19,000.
- Ethereum fell more than 5% to trade below $1,250, XRP consolidates gains above $0.40.
- CEL, ALGO and CHZ are up more than 5%.
Bitcoin price struggled to clear the $19,500 resistance. BTC is currently trading below $19,000. The US Federal Reserve interest rate hike to 3.25% has increased the selling pressure and there is now a risk that the price could fall below $18,000.
Likewise, most major altcoins are falling. ETH gained bearish momentum and even jumped below $1,250. XRP is now consolidating gains above the $0.40 level. ADA is descending towards the $0.432 level.
After struggling to clear the $19,500 resistance, bitcoin price reacted to the downtrend. BTC fell significantly below $19,250 and the 50 hourly simple moving average. The price even jumped below the $18,380 support zone and tested the $18,150 zone. It is now correcting higher with immediate resistance at $18,780. The next key resistance is at $19,000 and the 50 hourly simple moving average, above which the price may rise to $19,500.
On the downside, initial support is seen at $18,380. The next key support is near the $18,150 area, below which the price may drop to $17,800.
Ethereum price started a steep decline from the $1,410 resistance zone. ETH fell more than 5% to trade below the $1,300 level. On the hourly chart, the connecting uptrend line was crossed at $1,330 and the price settled below the 50 hourly simple moving average. It has tested the $1,220 area and is currently correcting higher. On the upside, the price faces resistance at $1,315. The next major resistance is now forming at the $1,345 and $1,350 levels.
On the downside, initial support is seen at $1,240. The next key support is $1,220, below which the price could test $1,165.
ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) is slowly moving below the $0.45 level. The first key support is at $0.432, below which the price might even test $0.42.
BNB fell below the $268 level. It is falling now and it might revisit the $262 support. The next key support is at $255.
Solana (SOL) is slowly heading towards the $30.50 level. The next key support is $30.20 and $30.00, below which the bears could strengthen.
DOGE broke below the $0.0580 level. It looks like the price might revisit the $0.0550 support. If not, it might attempt to head towards the $0.060 resistance zone.
XRP price is consolidating its gains above the $0.40 resistance. If the bulls remain in action, there could be further movement towards the $0.425 resistance area.
Other altcoins on the market today
A few altcoins are in the green, including CEL, ALGO, CHZ, RVN, UNI, COMP, USDN, KSM, KLAY, and LDO. Of these, CEL gained over 8% and traded above the 1.55 level.
Overall, bitcoin price is facing increasing selling pressure below $19,000. If the bears stay in action, BTC could slip below $18,000.
Compare eight possible post-FOMC Bitcoin price predictions here.