28 Jun 2022 · 2 min read

Bitcoin and Ethereum Trim Gains, XTZ and CHZ Accelerate

 

  • Bitcoin price traded below USD 21,000.
  • Ethereum is struggling below USD 1,200, XRP is down over 5%.
  • XTZ and CHZ are the best performers today.

Bitcoin price failed to extend gains above the USD 21,500 level and traded below USD 21,000. It is currently (04:12 UTC) trading near USD 20,700 and is down over 2% in a day and is almost unchanged in a week.

Similarly, most major altcoins are also moving lower. ETH traded below the USD 1,200 support zone. XRP struggled and declined below USD 0.350, while ADA is testing USD 0.48.

Total market capitalization

Source: tradingview.com

Bitcoin price

After struggling to stay above the USD 21,200 level, bitcoin price started another decline and tested the USD 20,500 support zone. On the downside, the next support is near the USD 20,200 level. Another major support is near the USD 20,000 zone. Any more losses could set the pace for a larger decline towards USD 18,800.

On the upside, the price is facing resistance near the USD 21,000 zone. The next major resistance is now near USD 21,200, above which the price could revisit the USD 21,800 resistance zone.

Ethereum price

Ethereum price also started another decline from the USD 1,250 resistance zone. ETH settled below the USD 1,200 support zone and is down over 3% in a day, but is still up almost 5% in a week. On the downside, an initial support is at USD 1,150. The next major support is near USD 1,120, below which the price could decline to USD 1,000.

On the upside, the bears might remain active near the USD 1,220 level. The next major resistance is near USD 1,250, above which the price could rise towards the USD 1,320 level.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is now trading below the USD 0.50 resistance. There was a move below the USD 0.48 level before the price moved back to this level. It seems like ADA could continue moving down towards the USD 0.45 support.

BNB is now consolidating near the USD 232 support zone. If there is a downside break below USD 230, the price may perhaps slide towards the USD 220 support zone.

Solana (SOL) is down 6% and trading below USD 40. The first major support is near the USD 36.20 level, below which the price might even test the USD 35 level.

DOGE surged above the USD 0.0750 resistance zone but remained below the USD 0.080 level. DOGE started a downside correction and traded below USD 0.0700 before recovering to this level again. The next major support is near the USD 0.065 level.

XRP price is back below the USD 0.35 support. If there are additional losses, the price could revisit USD 0.32. Conversely, it could rise and test the USD 0.365 resistance zone.

Other altcoins market today

Many altcoins are down over 5%, including DOT, SHIB, AVAX, MATIC, LTC, UNI, LINK, XLM, NEAR, ETC, XMR, and BCH. Out of these, MATIC declined 9% and is trading near the USD 0.52 support zone. Meanwhile, XTZ jumped 8% and reached USD 1.6, while CHZ rallied 16%, and surpassed USD 0.118, becoming the two best performers among the top 100 cryptoassets by market capitalization today. XTZ and CHZ are also up 11% and 25% in a week, respectively.

Overall, bitcoin price is moving lower below USD 21,000. If BTC fails to stay above USD 20,000, there is a risk of a larger decline in the near term.

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