Bitcoin and Ethereum Remain At Risk, LUNA Nears Top 10
- Bitcoin price might decline again if it fails to stay above USD 45,500.
- Ethereum could extend losses below USD 3,400, XRP might revisit USD 1.00.
- LUNA rallied over 28%, and DOT is gaining pace above USD 30.
Bitcoin price is struggling to climb above USD 46,800 and USD 47,000. BTC is currently (12:05 UTC) finding it tough to stay above USD 46,000. A downside break below this level and USD 45,500 may possibly start a stronger decline in the near term.
Similarly, most major altcoins are struggling to start a fresh increase. ETH failed to clear USD 3,500 and it might extend its decline below USD 3,400. XRP is also moving lower and it might decline below the USD 1.05 support. ADA is stable above USD 2.40, but it is facing many hurdles near USD 2.65.
Total market capitalization
Recently, bitcoin price saw a bearish reaction below the USD 46,500 level. BTC is now trading near the USD 46,000 zone. The next major support is near USD 45,500. If the bulls fail to protect the USD 45,500 support zone, there is a risk of a sharp decline towards USD 44,000. Any more losses may possibly lead the price towards the USD 43,200 level.
An initial resistance is near the USD 46,800. The first key resistance is near USD 47,000. The main hurdle is still near USD 47,200, above which the bulls might gain strength.
Ethereum price failed to surpass the USD 3,500 resistance and it is moving lower. ETH is struggling to stay above USD 3,400. If there is a daily close below USD 3,400, the price could slide further towards the USD 3,200 level.
On the upside, an immediate resistance is near USD 3,480. The next major resistance is near the USD 3,500 level, followed by the key USD 3,550 zone.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) broke the USD 2.50 resistance and it even spiked above USD 2.55. However, the bulls failed to retain strength above USD 2.60. As a result, there was a fresh bearish reaction and the price declined below USD 2.50. If the bears remain in action, the price may possibly move down towards the USD 2.32 level.
Litecoin (LTC) is struggling to climb above the key USD 188 resistance. It is now moving lower below the USD 185 level. If there is a downside break below the USD 180 level, the price might test the USD 172 level. On the upside, the bears could remain active near the USD 188 level.
Dogecoin (DOGE) failed to stay above the USD 0.250 pivot level. It is moving lower and it might soon test USD 0.240. The next major support is near the USD 0.232 level, below which the price might slide towards the USD 0.220 level.
XRP price is back below the USD 1.10 support. It is now approaching the USD 1.05 support. The main support is near the USD 1.00 handle. A close below USD 1.00 could increase pressure on the bulls in the near term.
Other altcoins market today
Many altcoins climbed over 10%, including XTZ, ICX, LUNA, MINA, ATOM, ONE, ALGO, KSM, CRV, DOT, AVAX, and MIOTA. Out of these, XTZ is holding gains above the USD 6.15 level, while LUNA, ranked now 11th by market capitalization, is nearing USD 39.
To sum up, bitcoin price is moving lower and it is trading well below USD 47,000. If BTC breaks USD 45,500, there could be a sharp decline.