Bitcoin and Ethereum Dip, Scared SHIB – Worst Performer Among Top 100
- Bitcoin price is correcting lower below USD 62,500.
- Ethereum slipped below USD 4,550, XRP could decline below USD 1.20.
- SOL extended its rally towards USD 250, while SHIB dropped lower.
Bitcoin price started a downside correction below USD 63,500. BTC declined below USD 62,500 and USD 62,000. It is currently (11:58 UTC) showing bearish signs and it might drop below USD 61,200.
Besides, most major altcoins are struggling to gain pace. ETH is correcting lower below USD 4,550. XRP is also moving lower and dipped below USD 1.20. ADA could retest USD 1.92.
Total market capitalization
Bitcoin price
After a downside break below USD 63,500, bitcoin price extended its decline. BTC dipped below USD 62,500 and even spiked below USD 62,000. If the bears remain in action, the price could test the USD 61,200 support. The next major support is near the USD 60,500 level, below which the price could even dive below USD 60,000.
An immediate resistance on the upside is near the USD 62,500 level. The first key resistance is near USD 63,200, above which the price may perhaps attempt a break above USD 63,500.
Ethereum price
Ethereum price corrected lower below USD 4,600 and USD 4,550. On the downside, an initial support is near the USD 4,500 level. The next key support is near USD 4,450 below which the price might test USD 4,400.
If there is a fresh increase, the price could face hurdle near USD 4,600. The next key resistance is near the USD 4,650 level.
ADA, BNB, SOL, SHIB, and XRP price
Cardano (ADA) is struggling to stay above the USD 2.00 level. If there is a downside break below USD 2.00, the price could decline towards the USD 1.92 support. Conversely, the price might rise towards the USD 2.12 level in the near term.
Binance coin (BNB) spiked above the USD 565 level, but it failed to continue higher. BNB started a downside correction and traded below USD 560. If there is a break below USD 550, the price could decline towards the USD 532 level.
Solana (SOL) is gaining pace and it even broke the USD 240 level. The price is now approaching the USD 250 resistance. A close above USD 250 could set the pace for a move towards the USD 265 level. If not, the price might correct lower towards the USD 225 level in the coming sessions.
SHIB is diving and it broke the USD 0.0000600 level. The price is down over 16% and it is trading below the USD 0.000055 support level. The next major support is near the USD 0.000050 level, below which it could test the USD 0.0000465 level. SHIB is the worst-performing cryptoasset among the top 100 coins by market capitalization today and in a week (-34%), as there’s unsettling news that one of the whales has been moving the coins into different wallets, raising concern the holder is about to sell. “It looks like there were four transactions out of that account yesterday, each sending USD 695m of SHIB to a different account — so a total of USD 2.78bn,” Tom Robinson, co-founder of Elliptic, told Bloomberg. “Whoever it is purchased the SHIB on Uniswap about a year ago, for not very much.”
XRP price is struggling to stay above the USD 1.20 level. If there is a clear downside break below USD 1.20, the price might slide towards the USD 1.15 level. Conversely, it could make another attempt to clear the USD 1.25 level.
Other altcoins market today
Many altcoins are up over 5%, including IOTX, TEL, AMP, ENJ, HOT, KDA, OMG, EGLD, AXS, AVAX, RVN, HNT, and CRO. Out of these, IOTX gained over 94% and it broke the USD 0.15 level, before correcting lower.
To sum up, bitcoin price is correcting gains below USD 62,500. If BTC fails to stay above USD 61,200, there is a risk of a move towards the USD 60,000 level.
