- Bitcoin price traded below the USD 47,200 support zone.
- Ethereum declined below USD 3,800, XRP settled below USD 0.80.
- Multiple altcoins are down in double-digits.
Bitcoin price failed to gain pace above the USD 49,200 resistance zone. BTC started a fresh decline and traded below the USD 48,000 support. It even broke the USD 47,200 support and is currently (04:18 UTC) keeps showing bearish signs.
Similarly, most major altcoins are gaining bearish momentum. ETH settled below USD 4,000 and declined below USD 3,800. XRP traded below the key USD 0.80 support level. ADA declined almost 7% and even tested the USD 1.20 support.
Total market capitalization
Bitcoin price
After a close below USD 50,000, bitcoin price gained bearish momentum. BTC traded below the USD 48,000 and USD 47,200 support levels. The price is now consolidating near USD 47,100 and remains at risk of more losses. An immediate resistance is near the USD 47,500 level. The next major resistance is near the USD 48,000 level.
An immediate support on the downside is near USD 46,500. The next major support is near the USD 46,000 level, below which the price could dive to USD 45,000.
Ethereum price
Ethereum price settled below the USD 4,000 support level. ETH extended decline and broke the key USD 3,880 support level. It even tested the USD 3,700 zone. If there are more losses, the price could test USD 3,650. The next key support is near the USD 3,620 level, below which the bears might test USD 3,500.
If there is a fresh increase, the price could face resistance near USD 3,800. The key resistance is now forming near the USD 3,880 level.
ADA, BNB, SOL, SHIB, and XRP price
Cardano (ADA) is down almost 7% and there was a break below the USD 1.25 support. The next key support is near the USD 1.20 level. A clear close below USD 1.20 may perhaps push the price towards the USD 1.12 level.
Binance coin (BNB) declined almost 6% and now trades near the USD 525 level. The main support is near the USD 500 level. A close below USD 500 could set the pace for a larger decline towards the USD 450 level.
Solana (SOL) declined almost 8% and it even broke the USD 165 support. An initial support is near the USD 150 level. Any more losses may perhaps lead the price towards the USD 142 level. On the upside, the bulls might remain active near USD 165.
SHIB declined below the USD 0.0000350 level. It is now approaching the USD 0.0000320 level. If the bears remain in action, the price could test the USD 0.000030 zone. The next major support is near the USD 0.000028 level.
XRP price extended losses below the USD 0.820 and USD 0.800 support level. An initial support is near the USD 0.780 level. Any more losses might open the doors for a move towards the USD 0.750 support zone.
Other altcoins market today
Many altcoins are down over 10%, including DCR, LRC, WAXP, TFUEL, CRV, BTT, GALA, FTM, KSM, BAT, MINA, and ENJ. Out of these, CRV declined 13% and traded below USD 3.40. Meanwhile, DESO rallied 38%, surpassing USD 128. It’s also up 29% in a week.
Overall, bitcoin price is trading well below the USD 48,000 pivot level. If BTC bears remain in action, there is a risk of a move towards the USD 45,000 support zone in the near term.
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Source: Cryptonews
