Bitcoin and Ethereum Turn Red, DOT Continues To Outperform
- Bitcoin price failed to continue higher and declined below USD 45,000.
- Ethereum is trading well below USD 3,300, XRP revisited USD 1.0.
- DOT rallied over 11% and it broke the USD 35 level.
Bitcoin price attempted a close above the USD 46,000 pivot zone, but it failed. BTC started a fresh decline and it traded below the USD 45,000 support. It is currently (04:24 UTC) consolidating and it remains at a risk of a move towards the USD 42,500 level.
Similarly, most major altcoins are facing many hurdles. ETH settled below the USD 3,400 and USD 3,350 levels. XRP is showing bearish signs below the USD 1.15 and USD 1.20 resistance levels. ADA is down 6% and it broke the USD 2.50 support.
Total market capitalization
After an upside correction, bitcoin price failed to stay above the USD 46,500 level. As a result, BTC started a fresh decline and it broke the USD 45,500 support zone. There was also a break below the USD 45,000 support zone. If the bears remain in action, the price could continue to move down towards USD 44,200. The next major support could be USD 43,000 or USD 42,500.
An immediate resistance on the upside is near the USD 45,800. The first major resistance is near the USD 46,000 level. The main weekly resistance is now forming near the USD 47,000 level.
Ethereum price started another decline below the USD 3,400 support. ETH broke the USD 3,350 and USD 3,300 levels. It is now approaching the USD 3,250 support. If there is a downside break below USD 3,250, the price could decline towards the USD 3,000 level.
On the upside, the first major resistance for the bulls is near USD 3,350. The key weekly pivot level is now forming near the USD 3,500 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) rallied above the USD 2.55 resistance, but there was no upside continuation. As a result, there was a fresh decline and the price traded below the USD 2.50 support. The next major support is near USD 2.38, below which the bears might test USD 2.20.
Litecoin (LTC) is declining steadily and it already broke the USD 180 support level. The price is now consolidating near USD 175, with an immediate support at USD 172. If there are additional losses, the price could decline towards the USD 165 level.
Dogecoin (DOGE) is trading well below the USD 0.250 pivot level. An initial support is near the USD 0.232 level. The main support is near the USD 0.220 level, below which there is a risk of a move towards the USD 0.200 support zone in the near term.
XRP price failed to clear the USD 1.15 resistance zone and it started a fresh decline. It is now trading below the USD 1.10 level and it could continue to slide towards USD 1.05. The main breakdown support is near USD 1.00, below which it could decline further.
Other altcoins market today
Many altcoins are down over 5%, including SOL, FTM, QNT, AR, AVAX, OMG, CELO, FTT, MINA, LUNA, REV, MDX, and KCS. Conversely, ATOM, XTZ, DOT, and ONE are up over 10%.
Overall, bitcoin price is showing bearish signs below the USD 45,800 and USD 46,000 resistance levels. If BTC fails to stay above USD 44,000, it could extend its decline.