Bitcoin and Ethereum Experience A Fresh Decline, XRP Outperforms
- Bitcoin price is facing hurdles above USD 21,650.
- Ethereum declined below USD 1,650, XRP gained pace for a move above USD 0.35.
- SOL, DOGE, and SHIB are down over 5%.
Bitcoin price failed to stay above the USD 21,650 resistance zone. BTC slowly moved lower below the USD 21,500 level. It is currently (11:20 UTC) showing a few bearish signs and might decline below USD 21,000.
Similarly, most major altcoins are slowly moving lower. ETH failed near USD 1,720 and trimmed gains. XRP outperformed with a move above the USD 0.35 resistance. ADA is rising towards the 0.475 resistance.
Total market capitalization
After a failed attempt below USD 22,000, the bitcoin price started a slow decline. BTC traded below the USD 21,650 and USD 21,500 levels. It is now moving lower towards the USD 21,200 level. On the downside, initial support is now near the USD 21,000 level. The next key support sits near the USD 20,800 zone, below which the price could gain bearish momentum.
On the upside, the price might face resistance near the USD 21,650 level. The next resistance is near the USD 22,000 level, above which the price might start a steady increase.
Ethereum price also failed to clear the USD 1,720 resistance zone. ETH formed a top and started a fresh decline below the USD 1,680 level. It even moved below the USD 1,650 level and might continue to move down. The next major support is USD 1,600, below which the price could accelerate lower.
On the upside, the bears might remain active near the USD 1,700 level. The next key resistance is near the USD 1,720 level, above which the price could rise towards the USD 1,800 resistance zone.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is slowly moving higher above the USD 0.65 level. The price seems to be approaching the USD 0.475 resistance, above which the price could start a decent increase in the near term.
BNB failed to stay above the USD 300 pivot zone. It is now moving lower and trading near USD 295. If there is a downside break below USD 292, the price could even test the USD 280 support.
Solana (SOL) is down over 5% and trading well below the USD 35 level. The next key support is USD 33.50, below which there is a risk of a move towards the USD 32 level.
DOGE is also moving lower towards the USD 0.0675 level. The first major support is near the USD 0.0665 level, below which the price may perhaps test the USD 0.0650 level.
XRP price gained pace for a move above the USD 0.35 resistance zone. The price is up 4%, and seems like the bulls are aiming a move towards USD 0.375.
Other altcoins market today
Many altcoins are in the red zone, including DOT, SHIB, MATIC, AVAX, UNI, ATOM, LINK, BCH, FLOW, FIL, and ICP. Out of these, UNI is accelerating lower below the USD 6.85 support level.
To sum up, the bitcoin price is moving lower towards the USD 21,000 level. If BTC slides further, it could test USD 20,000. Conversely, it might move back in a range of USD 22,000.