Bitcoin and Altcoins Trading Near Make-or-Break Levels
Bitcoin price is retreating from the USD 9,300 resistance, with a bearish angle. Ethereum is down 2% and XRP failed to stay above the USD 0.198 support. AOA rallied over 200% and DIVI is up close to 22% today.
Bitcoin price made a couple of attempts to clear the USD 9,300 and USD 9,320 resistance levels. BTC failed to continue higher and recently declined by 1%. It is currently (08:30 UTC) approaching the USD 9,150 support, below which it could revisit USD 9,000.
Similarly, most major altcoins are slowly declining and approaching key supports, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is down 2% and it is trading below USD 240. XRP/USD is also declining and it seems like it could test the USD 0.192 support region.
Total market capitalization
In the past few sessions, bitcoin price struggled to continue higher above USD 9,300 and USD 9,320. BTC is currently trading below USD 9,200 and it is approaching the USD 9,150 support level. Any further losses may perhaps lead the price toward the USD 9,000 support. A bearish close below USD 9,000 could start a strong decline in the coming sessions.
Conversely, a successful break above the USD 9,300 resistance level is likely to clear the path for a sustained upward move. The next major hurdle is near USD 9,500 and USD 9,550.
Ethereum price is down close to 2% and it is trading below the USD 240 level. The first major support is near the USD 235 level, below which there is a risk of more losses. The next support for ETH could be USD 230, followed by USD 228.
On the upside, an initial resistance is near the USD 242 level. The main resistance is still near USD 245, above which the bulls might attempt to clear USD 250.
Bitcoin cash, ADA and XRP price
Bitcoin cash price dived 4% and it is gaining bearish momentum below the USD 230 level. BCH is likely to continue lower towards the USD 222 and USD 220 support levels. Any further losses might lead the price towards the USD 200 support. To start a fresh increase, the price must move back above USD 235.
ADA is down 7% and it is trading below the USD 0.1250 support level. However, there are many supports near the USD 0.1200 level. As long as the price is above the USD 0.1200 level, the price is likely to start a fresh increase. On the upside, the bulls are likely to face hurdles near USD 0.1300 and USD 0.1320.
XRP price failed to stay above the USD 0.202 and USD 0.200 support levels. XRP is declining and it is approaching the USD 0.195 level. The main support is near the USD 0.192 level, below which there is a risk of a sharp decline towards the USD 0.185 and USD 0.182 level. Conversely, a close above USD 0.202 could push the price higher in the near term.
Other altcoins market today
In the past three sessions, many small-capitalization altcoins declined over 8%, including AMPL, NEXO, QNT, THETA, DOGE, BCD, CKB, SNX, REN, ATOM, BNT, and IOST. Conversely, AOA rallied close to 240% to surpass the USD 0.0125 level.
Overall, bitcoin price is slowly moving lower and trading below USD 9,300. It seems like BTC is preparing for the next significant move either above USD 9,300 or below USD 9,000.