Bitcoin and Ethereum Trend Lower, Best Performing Altcoins Trim Gains
- Bitcoin price is struggling to recover above USD 20,000.
- Ethereum is consolidating above USD 1,000, XRP is stuck below USD 0.32.
- SAND gained over 12%, and BAT is up 10%, but both are also trimming their gains.
Bitcoin price is back below the USD 19,500 support zone. It is currently (11:44 UTC) consolidating near USD 19,200 and is almost unchanged in a day and down 7% in a week. Earlier today, BTC ested USD 20,500.
Similarly, most major altcoins are struggling to recover losses. ETH is nearing USD 1,000 again while XRP might revisit the USD 0.30 support zone. ADA is back below the USD 0.45 pivot level.
Total market capitalization
Bitcoin price
After a recovery wave earlier today, bitcoin price struggled to clear the USD 20,500 resistance. BTC formed a top and declined below USD 20,000. It even moved below the USD 19,500 level. On the downside, an initial support is near the USD 18,800 level. The next major support is near the USD 18,500 zone, below which the price could gain bearish momentum in the near term.
On the upside, an immediate resistance is near the USD 19,500 level. The next major resistance is now near USD 20,000, above which the price could revisit the USD 20,500 resistance zone.
Ethereum price
Ethereum price managed to stay above the USD 1,000 support. However, ETH is now moving lower below USD 1,050. It is still up 3% in a day and down 8% in a week. On the upside, an immediate resistance is near the USD 1,065 level.
If there is no upside break, the price might dive below the USD 1,000 support zone. The next major support is near USD 920, below which the price could test the USD 880 support.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to stay above the USD 0.45 support and moved into a bearish zone. The next major support is near USD 0.432, below which the price may perhaps decline towards the USD 0.420 level.
BNB is moving lower and trading below the USD 220 level. If the bears remain in action, the price could even test the USD 212 level. Any more losses could send the price towards the USD 200 support zone.
Solana (SOL) trimmed gains after it struggled to clear the USD 35 level. There was a bearish reaction and the price declined toward the USD 32 level. The next major support is near the USD 30 level.
DOGE declined below the USD 0.065 support zone. It seems like the price might continue to move down towards the USD 0.0620 level. Conversely, it could rise and revisit the USD 0.0675 level. DOGE is still up 3% in a day and 1% in a week.
XRP price is again moving lower towards the USD 0.30 support zone. If there is a downside break and a close below the USD 0.30 support level, the price might decline stronger.
Other altcoins market today
Despite lower in the past few hours, a few altcoins are still in the green zone, including ALGO, GT, BAT, XLM, SAND, AR, and AMP. Out of these, SAND gained 12% and tested the USD 1.10 level, while BAT jumped 10% and neared USD 0.40.
To sum up, bitcoin price is showing bearish signs below the USD 19,500 level. If BTC fails to stay above USD 18,800, there could be a sharper drop.
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