Bitcoin and Ethereum Erase Weekly Gains, Altcoins Increase Losses
- Bitcoin declined 3% and traded below USD 21,500.
- Ethereum declined below USD 1,450, XRP is approaching the USD 0.32 support.
- ADA and SOL are down almost 5%.
Bitcoin price extended losses below the USD 22,500 level and declined below USD 21,500. It is currently (03:58 UTC) trading just below USD 21,200 and is down over 3% in a day and 5% in a week.
Similarly, most major altcoins are moving lower. ETH traded below the USD 1,450 support level. XRP might soon revisit the USD 0.32 support. ADA tested the USD 0.465 support.
Total market capitalization
After facing rejection, bitcoin price extended losses below the USD 22,000 support and almost tested USD 21,000 before moving higher. On the downside, an initial support is near the USD 20,850 level. The next major support is near the USD 20,500 zone, below which the price could test USD 20,000.
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 could start a steady increase.
Ethereum price also accelerated lower after it broke the USD 1,500 support zone and is now consolidating near the USD 1,435 level. ETH is down over 5% in a day and almost 9% in a week. The next major support is near USD 1,365, below which the price might retest the USD 1,320 support zone.
On the upside, the price could face sellers near USD 1,450. The main breakout resistance is now forming near the USD 1,500 level, above which the price could start another increase.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) gained bearish momentum below the USD 0.50 level. It is down almost 5% and trading above USD 0.470. The next major support is near the USD 0.45 level, below which there might be a sharper decline.
BNB declined below the USD 250 support zone and even traded below the USD 242 level before recovering to USD 244. If the bears remain in action, there is a risk of a move towards the USD 235 level.
Solana (SOL) gained pace below the USD 40 support zone. It is down almost 5% and trading below the USD 38 level. The main support is near the USD 35 level, below which it could slide towards the USD 32 support zone.
DOGE is accelerating lower, and there was a move below USD 0.0620 support. The next major support is at USD 0.0600. Any more losses may perhaps open the doors for a move towards USD 0.0580.
XRP price is declining and approaching the USD 0.32 support zone. If the bears remain in action, there is a risk of a move towards the USD 0.30 support zone in the near term.
Other altcoins market today
Many altcoins are in the red zone, including DOT, MATIC, AVAX, SHIB, TRX, LTC, FTT, LINK, NEAR, ATOM, APE, BCH, and ALGO. Out of these, BCH is down 8% and trading below USD 120.
Overall, bitcoin price is declining and trading below the USD 21,500 level. If BTC breaks the USD 20,500 support, it could even revisit the USD 20,000 support zone.