Bitcoin and Ethereum Bears Remain In Control, OHM and SUSHI Rally
- Bitcoin price must clear the USD 52,000 resistance to start a fresh increase.
- Ethereum is facing strong resistance near USD 4,250, XRP could extend losses.
- OHM and SUSHI gained over 10%.
Bitcoin price settled below the USD 50,000 pivot level. BTC could extend losses below USD 47,200 if it stays below USD 50,000. It is currently (11:54 UTC) showing bearish signs below USD 48,900, and only a close above USD 52,000 might start a steady increase.
Similarly, most major altcoins could extend losses. ETH could accelerate unless it breaks the USD 3,880 support. XRP might find support near USD 0.750. ADA is also moving lower towards an important support at USD 1.20.
Total market capitalization
Bitcoin price
In the past few days, bitcoin price extended decline below USD 50,000. BTC even spiked below USD 48,500 and it seems like the bears are in action. If there is a clear break below USD 47,200, there could be a sharper decline. The next major support is near the USD 46,000 level, below which the price could even drop below USD 45,000.
An initial resistance is near the USD 50,000 level. The main breakout zone is now forming near the USD 52,000 level.
Ethereum price
Ethereum price is struggling to settle above USD 4,000 and USD 4,050. On the downside, an initial support is near the USD 3,880 level. The main support is near the USD 3,550 level, below which the price could start a stronger decline.
Conversely, there could be a steady recovery above USD 4,120. The key breakout zone is forming near the USD 4,250 level.
ADA, BNB, SOL, SHIB, and XRP price
Cardano (ADA) is consolidating near the USD 1.30 support level. If there is a close below USD 1.30, the price could continue to move down towards the main USD 1.20 support. On the upside, there are many hurdles near USD 1.40.
Binance coin (BNB) is stuck near the USD 550 level. An immediate resistance is near the USD 575 level. The key level for a larger increase is near the USD 600 level. On the downside, the main support is near the USD 500 zone.
Solana (SOL) is consolidating below the USD 175 resistance level. An initial support is near the USD 165 level. A close below USD 165 might spark more downsides. The next major support is near the USD 150 level.
SHIB is showing bearish signs near the USD 0.0000350 level. If the bears remain in action, the price could decline towards the USD 0.0000320 level. The main weekly support could be USD 0.000030, where the bulls might take a stand.
XRP price is trading in a range above the USD 0.800 support level. If there is a downside break, the price could dive towards the key USD 0.750 support. If there is a fresh increase, the price might face resistance near the USD 0.880 level.
Other altcoins market today
Many altcoins are down over 5%, including QNT, DCR, NEAR, BTT, GALA, WAXP, MATIC, and EOS. Conversely, OHM and SUSHI rallied over 10% in a day. OHM trades near USD 477 and it trimmed its weekly losses to less than 17%, while SUSHI jumped above USD 6 and is now up over 14% in a week.
To sum up, bitcoin price is showing bearish signs below USD 52,000. On the downside, the USD 45,000 zone is the key for a fresh increase in the coming days.
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