Bitcoin Below USD 20K, Ethereum Near USD 1K, Altcoins Dive
- Bitcoin price is down 5% and trading near USD 19,000.
- Ethereum retested the USD 1,000 support zone, XRP is approaching USD 0.30.
- SOL declined over 9%, and BNB is gaining bearish momentum.
Bitcoin price gained bearish momentum below the USD 20,000 support zone. BTC even declined 5% and traded below USD 19,500. It is currently (11:20 UTC) trading near USD 19,000 and is also down 4% in a week.
Similarly, most major altcoins are down over 5%. ETH traded below the USD 1,050 and USD 1,020 support levels. XRP traded below the key USD 0.32 support. ADA declined below the key USD 0.455 support zone.
Total market capitalization
After a clear move below the USD 20,000 support, bitcoin price gained bearish momentum. BTC declined over 5% and even tested the USD 19,000 zone. The next major support is near the USD 18,800 zone, below which the price might continue to move down. In this case, it might even test the USD 18,000 support.
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 start a recovery wave.
Ethereum price also gained bearish momentum after it settled below the USD 1,100 level. ETH even dived below the USD 1,050 support zone. It is down close to 9% and approaching the USD 1,000 support. ETH is also down 3% in a week. Any more losses might send the price towards the USD 880 level.
On the upside, an immediate resistance is near the USD 1,050 level. The next major resistance is near USD 1,120, above which the price could rise steadily.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) declined below the USD 0.455 support zone. It even declined below the USD 0.435 level before recovering, but it still might continue to move down towards the USD 0.42 level. The next major support is near the USD 0.40 level.
BNB declined 5% and traded below the USD 212 support zone. The next major support is near the USD 200 level. A bearish close below the USD 200 level may perhaps spark a sharper decline towards the USD 188 level.
Solana (SOL) is down over 9% and there was a clear move below the USD 33.20 level. It even traded below the USD 32 support. The next major support is near the USD 30 level, below which the bulls might struggle.
DOGE failed to stay above the USD 0.065 support zone and is now approaching the USD 0.0620 support. If there is a downside break, the price might even struggle to stay above the USD 0.0600 level.
XRP price extended its decline below the USD 0.32 support. It is now approaching the USD 0.30 support level, below which there is a risk of a move towards the USD 0.288 level.
Other altcoins market today
Many altcoins are gaining bearish momentum, including DOT, TRX, AVAX, MATIC, FTT, CRO, LINK, ALGO, XMR, ETC, and BCH. Out of these, MATIC is down 19% and trading below the USD 0.435 support.
To sum up, bitcoin price is accelerating lower below the USD 19,500 level. If BTC declines below USD 18,800, it could soon revisit the USD 18,000 level.