Bitcoin and Ethereum Struggle To Gain Ground, Altcoins Consolidate
- Bitcoin price is facing many hurdles, starting with USD 36,500.
- Ethereum is trading well below USD 2,500, XRP is consolidating above USD 0.82.
- LEO, ENJ, DCR, and GRT are up 8%-11%.
Bitcoin price failed to remain stable above the USD 36,500 support zone. BTC extended its decline below the USD 35,000 support level. It is currently (04:40 UTC) showing a few bearish signs, with a major support near the USD 33,500 level.
Besides, most major altcoins are struggling to recover. ETH settled below the USD 2,500 zone and it is struggling to stay above USD 2,250. XRP/USD is trading above the USD 0.820 support, but it is also facing resistance near USD 0.920 and USD 0.950.
Total market capitalization
In the past few sessions, bitcoin price mostly saw bearish moves below the USD 36,500 pivot level. BTC even settled below the USD 35,000 level. An immediate support is near the USD 34,000 level. The first key support is near the USD 33,500 level. The main weekly support is near the USD 32,000 level, below which the price could test USD 30,000.
On the upside, an initial resistance is near the USD 35,500 level. The main resistance is now forming near the USD 36,500 level, above which it could test the USD 38,500 zone.
Ethereum price failed to stay above the USD 2,550 and USD 2,500 support levels. ETH even broke the USD 2,350 level, but it found support near USD 2,200. The bulls are now protecting more downsides, but they might face a strong selling interest near USD 2,550.
On the downside, the USD 2,250 level is an immediate support. The first major support is near USD 2,200, below which the price might test USD 2,000.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) managed to settle above the USD 300 pivot level. BNB is consolidating, with an immediate resistance near the USD 325 level. The first major resistance is near USD 350, above which the price might test the USD 375 level.
Litecoin (LTC) is stuck near the USD 165 pivot level. If there is a fresh increase, LTC could struggle near USD 180. The main breakout resistance is forming near the USD 195 and USD 200 levels. An immediate support is near the USD 162 level. The first major support is near USD 150, below which the price might test USD 132.
Dogecoin (DOGE) traded below the USD 0.305 and USD 0.300 support levels. If the bears remain in action, the price could decline towards the USD 0.280 support level. Conversely, the price could recover towards the USD 0.320 level.
XRP price is struggling to recover above the USD 0.920 and USD 0.950 resistance levels. The main weekly resistance is now forming near the USD 1.0 level. On the downside, the USD 0.820 zone is a major support.
Other altcoins market today
A few altcoins gained over 5%, including GRT, DCR, TEL, ENJ, COMP, LEO, NEAR, LUNA, MKR, MATIC, and ADA. Out of these, GRT rallied over 11% and it broke the USD 0.70 level. Meanwhile, THETA, NEXO, and ZEN are down by 5%-10%.
Overall, bitcoin price is showing bearish signs below the USD 36,500 and USD 38,500 levels. If BTC remains below USD 38,500, it could continue to move down towards USD 30,000 in the next few days.