Bitcoin and Ethereum Trend Lower, FIL Trims Gains
- Bitcoin price is moving lower towards USD 23,000.
- Ethereum struggles above USD 1,650, XRP is consolidating near USD 0.372.
- FIL is still the best performer today despite trimming some of its gains.
Bitcoin price struggled to stay above the USD 24,000 resistance. BTC dipped and traded below the USD 23,500 level. It is currently (11:54 UTC) trading just below USD 23,250 and is down over 2% in a day and up 3% in a week.
Similarly, most major altcoins might accelerate their downside correction. ETH declined below the USD 1,700 level and might revisit USD 1,550. XRP is now consolidating near the USD 0.372 level. ADA is moving lower towards the USD 0.505 support.
Total market capitalization
After a close below the USD 24,000 level, bitcoin price moved lower and traded below the USD 23,300. On the downside, the price is struggling to stay above the USD 23,000 zone. The next major support is near the USD 22,500 zone, below which the price might gain bearish momentum.
On the upside, an immediate resistance is at USD 23,500. The next major resistance could be USD 24,000, above which the price could start a fresh increase.
Ethereum price settled below the USD 1,700 pivot level. ETH is moving lower and struggling to stay above the USD 1,650 level. The price is down 3% in a day and is still up 4% in a week. If there is a downside break, ETH could test the USD 1,620 support. The next major support is near the USD 1,600 zone, below which the price might drop to USD 1,550.
On the upside, the price might face resistance near USD 1,700. The next key resistance is near the USD 1,720 level, above which ETH might start a fresh increase.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to clear the USD 0.55 resistance zone. There was a downside correction, and ADA dropped below USD 0.52. If the bears remain in action, the price could even test USD 0.505.
BNB failed to test the USD 300 resistance and corrected lower. It is now moving in a range near USD 285 and might extend losses. The next major support is at USD 275. On the upside, the USD 300 level is a major barrier for the bulls.
Solana (SOL) is down 5% and trading near the USD 42 support level. If there are more losses, the price may perhaps drop towards the USD 40 support. On the upside, the bears might remain active near the USD 45 zone.
DOGE settled below the USD 0.0700 support. The next major support is USD 0.0665, below which the price might drop towards the USD 0.0650 level.
XRP price climbed higher towards the 0.40 resistance zone, where it faced sellers. The price is now moving lower and might drop towards the USD 0.355 support zone in the near term.
Other altcoins market today
Many altcoins are moving lower, including MATIC, AVAX, UNI, ETC, LTC, FTT, NEAR, ATOM, BCH, VET, MANA, and AAVE. Meanwhile, FIL dropped from USD 11.24, reached earlier today, to USD 9.41, but is still the best performer among the top 100 cryptoassets by market capitalization today as it jumped 12% in the past 24 hours. It’s also up 66% in a week.
To sum up, bitcoin price is struggling to start another increase above USD 24,000. If BTC settles below USD 23,000, there is a risk of a sharper decline.