Bitcoin and Ethereum Fluctuate, Small Altcoins Suffer Biggest Losses
- Bitcoin price fluctuates below USD 50,000.
- Ethereum trades around USD 4,000, XRP declined below USD 0.80.
- Many small-capitalization coins are still down over 10%.
Bitcoin price attempted a recovery wave above the USD 49,000 level. However, BTC failed to clear the USD 50,000 resistance zone and started a fresh decline to almost USD 47,000. It is currently (12:08 UTC) trying to recover and moving higher above USD 48,000 again.
Similarly, most major altcoins are also trying to recover losses. ETH is back above USD 4,000, while XRP is trying to move above the USD 0.80 level again. After testing USD 1.26, ADA is now back above USD 1.30.
Total market capitalization
After struggling to recover above USD 50,000, bitcoin price started a fresh decline. BTC traded below the USD 48,500 and USD 48,000 support levels. An immediate support was near the USD 47,000 level, however, the price moved higher sharply and is now trading near USD 48,100.
On the upside, the price is facing resistance near the USD 48,500 level. The first major resistance is near the USD 49,200 level, above which the price might revisit the USD 50,000 barrier. (Learn more: Bitcoin Shows 'Overwhelming' Institutionalization After ‘Significant Deleveraging’)
Ethereum price failed to clear the USD 4,250 resistance and started a fresh decline. It broke the USD 4,000 support and was moving towards the USD 3,880 level before recovering above USD 4,000 again.
The first key resistance is now forming near the USD 4,120 level.
ADA, BNB, SOL, SHIB, and XRP price
Cardano (ADA) is trying to gain pace above the USD 1.30 level. The price is still down 5% in a day. If ADA moves down again, the next major support is near USD 1.22, below which it could test the USD 1.20 level.
Binance coin (BNB) is down over 3% and traded below the USD 550 support, but managed to return above this level. If the bears remain in action, the price could decline towards the USD 520 level. The next major support is near USD 500.
Solana (SOL) declined 6% and there was a sharp move below the USD 185 support. The price even traded below USD 180 but is now trying to reach USD 185 again.
SHIB declined almost 8% and traded below the USD 0.0000335 level before moving above USD 0.0000345. An immediate support is near the USD 0.000032 level. If there is a downside break below the USD 0.000032 level, the price could test the USD 0.000030 level.
XRP price dropped below the USD 0.80 level. The price was approaching the USD 0.745 support, but is now trying to reach USD 0.80 again.
Other altcoins market today
Many altcoins are down over 10%, including KDA, IMX, QNT, LUNA, RUNE, FTM, ONE, GALA, EGLD, TFUEL, IOTX, and MATIC. Out of these, KDA declined 24% and traded below the USD 10 level.
To sum up, bitcoin price is fluctuating below the USD 49,000 level. If there are additional losses, BTC could revisit the USD 45,000 support zone.