Bitcoin, Ethereum and Altcoins Struggle to Recover
Bitcoin price tested USD 32,000 before moving back above USD 33,000. Ethereum dived towards USD 2,050, XRP spiked below USD 0.60 before recovering. ENJ, MANA, and FLOW are down over 16%-27%.
Bitcoin price started a decline from the USD 35,000 resistance. BTC traded below many important supports near USD 33,000. It is currently (04:36 UTC) consolidating above the USD 32,000 support, below which the price could dive to USD 30,000.
Similarly, most major altcoins are gaining bearish momentum. ETH broke the USD 2,150 support before recovering. XRP also declined heavily and spiked below USD 0.60.
Total market capitalization
After a bearish reaction at USD 35,000, bitcoin price started a fresh decline. BTC broke the USD 33,500 and USD 33,000 support levels. The price is now consolidating above the USD 32,000 zone and is trying to move higher above USD 33,000, where it might face resistance near the USD 33,200 level. The first key barrier is now forming near the USD 34,000 level.
If the bears break the USD 32,000 support, the price might accelerate lower towards the USD 30,000 support zone.
Ethereum price extended its decline below the USD 2,150 support zone. ETH even spiked below USD 2,080 and it tested the USD 2,050 zone. The price is now recovering and it is trading above the USD 2,100 level. The first key resistance is near the USD 2,150 level.
On the downside, an initial support is near the USD 2,080 level. The main support sits near USD 2,050, below which the price could test USD 2,000 in the coming sessions.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is down 4% and it is trading well below USD 1.35. An immediate support is near the USD 1.30 level. If there is a close below USD 1.30, the price might accelerate lower towards the USD 1.25 level. On the upside, the bears might remain active near USD 1.365.
Litecoin (LTC) extended its decline below the USD 130 level. LTC even tested the USD 125 support level. If there are additional losses, the bears might aim for a test of the USD 112 level. Conversely, there could be a fresh move towards the USD 140 level.
Dogecoin (DOGE) declined over 5% and it is now trading below USD 0.212. The price even spiked below USD 0.200. It seems like there are chances of a move towards the USD 0.180 support level in the near term.
XRP price declined heavily below USD 0.620 and it even spiked below the USD 0.600 support. If the current trend remains intact, there are chances of a drop towards the USD 0.565 level. If not, the price may possibly recover towards the USD 0.632 level in the near term.
Other altcoins market today
Many altcoins declined over 8%, including MANA, AXS, ENJ, CHZ, SC, WAVES, RUNE, DCR, THETA, SOL, and ICP. Out of these, MANA declined over 20% and it even broke the USD 0.65 support. Meanwhile, LEO, ZRX, and LUN are up by 6%-11%.
Overall, bitcoin price is showing bearish signs below the USD 33,200 and USD 33,500 levels. If BTC settles below USD 32,000, it could grind lower towards the USD 30,000 level in the near term.