Bitcoin and Ethereum at Risk of More Losses, XRP, MATIC and SOL Drop
- Bitcoin price might extend losses to USD 20,000.
- Ethereum could dive below USD 1,400, XRP traded close to the USD 0.32 support.
- MATIC and SOL are down over 8%.
Bitcoin price settled below the USD 22,000 level. BTC is currently (11:44 UTC) struggling to stay above the USD 21,000 level. If the bears remain in action, there is a risk of a move towards the USD 20,000 support zone.
Similarly, most major altcoins are showing bearish signs. ETH could gain bearish momentum below the USD 1,400 level. XRP might continue lower towards the USD 0.32 support. ADA is signaling a move towards the USD 0.45 support.
Total market capitalization
After a downside break, bitcoin price settled below the USD 21,500 support zone. BTC even broke the USD 21,200 level and is currently struggling to stay above the USD 21,000 level. If there is a close, the price might dive towards the USD 20,500 support level. The next major support is near the USD 20,000 zone, below which the price could test USD 19,200.
On the upside, an immediate resistance is near the USD 21,500 level. The next major resistance could be USD 22,000, above which the price might steadily recover.
Ethereum price followed a similar pattern and settled below the USD 1,450 support. ETH is now consolidating near the USD 1,400 level. A downside break might send it towards the USD 1,365 level. The next major support is near USD 1,320, below which the price might test the USD 1,250 support zone.
On the upside, the price could face resistance near USD 1,450. The key resistance is now forming near the USD 1,500 level, above which the price could gain bullish momentum.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) settled well below the USD 0.50 level. It is down over 5% and trading near USD 0.468. The next major support is near the USD 0.45 level, below which the price might test USD 0.42.
BNB is gaining pace below the USD 250 support zone. It is now consolidating near the USD 242 level. If there are more downsides, the price may decline towards the USD 235 level.
Solana (SOL) accelerated lower below the USD 38 support zone. It is down over 8% and trading below the USD 36 level. The next major support is near the USD 35 level, below which it could test the USD 32 support zone.
DOGE is declining and approaching the 0.0612 support. The next major support sits at USD 0.0600, below which there is a risk of a move towards USD 0.0580.
XRP price is trading around the USD 0.332 support zone. If it extends losses, it could be approaching the USD 0.320 support, below which it might test the USD 0.30 support zone in the near term.
Other altcoins market today
Many altcoins are gaining bearish momentum, including DOT, MATIC, AVAX, SHIB, TRX, LTC, FTT, LINK, NEAR, ATOM, APE, BCH, and FLOW. Out of these, APE is down nearly 12% and trading below USD 6.0.
To sum up, bitcoin price is struggling to recover losses above USD 21,500. If BTC fails to stay above USD 21,000, there might be a sharp decline.