Bitcoin Dives Below USD 39K, Ethereum Breaks 2.9K, Altcoins in Red
- Bitcoin price started a decline below USD 40,500 and USD 40,000.
- Ethereum traded below USD 3,000, XRP dropped to USD 0.70.
- Most major altcoins are down over 6%.
Bitcoin price tried to clear the USD 43,500 resistance zone. However, BTC struggled to gain pace and started a decline below USD 41,200. There was a break below USD 40,000 and the price is currently (04:18 UTC) consolidating losses near USD 38,700.
Similarly, most major altcoins declined sharply. ETH traded below the key USD 3,000 support zone. XRP declined and even spiked below USD 0.70 before recovering. ADA is down almost 10% and there was a move towards the USD 1.20 level.
Total market capitalization
Bitcoin price
After another failure near USD 43,500, bitcoin price started a fresh decline. It’s down 7% in a day. BTC declined sharply below the USD 41,200 and USD 40,500 support levels. It even broke the USD 40,000 support and tested USD 38,500. It is now recovering and facing resistance near USD 39,000. The next major resistance is near USD 40,000, above which the price might start a recovery wave.
Ethereum price
Ethereum price also started a major decline below the USD 3,120 support level. ETH even settled below the USD 3,000 level and is down more than 8% in a day. It tested USD 2,850 and is currently consolidating losses. On the upside, an immediate resistance is near USD 2,920. The next key resistance is near USD 3,000, above which the price might start a decent correction wave.
An initial support is near the USD 2,800 level. The next major support is near USD 2,750, below which the price might dive towards USD 2,650.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is down 10% and there was a clear move below the USD 1.25 level. It traded close to USD 1.20 and is currently correcting higher. If there is a recovery wave, the price could face a strong resistance near the USD 1.25 level.
Binance coin (BNB) is down 9% and there was a clear move below USD 450. The price is now consolidating near USD 425. If the bears remain in action, the price could decline towards the USD 400 support zone.
Solana (SOL) traded below the USD 132 support zone. An immediate support is near the USD 122 level. A downside break below the USD 122 level might start a drop towards the USD 112 level. On the upside, the USD 132 zone presents a major resistance.
DOGE gained bearish momentum below the USD 0.155 level. It tested USD 0.150 and currently struggling to recover higher. The next major support is near the USD 0.142 level, below which it could test USD 0.135.
XRP price is down 6% and the price is now trading near the USD 0.70 level. If the bulls fail to protect USD 0.70, the price could decline towards the USD 0.68 level. The next major support is near USD 0.665.
Other altcoins market today
Many altcoins are down over 5%, including LUNA, DOT, AVAX, MATIC, SHIB, NEAR, LINK, UNI, LTC, ALGO, FTM, and BCH. Conversely, LEO is still trading in the green zone and is up 4%.
Overall, bitcoin price is showing bearish signs below the USD 40,000 level. If BTC remains below USD 40,000 and USD 40,500, there could be additional losses.
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