Bitcoin and Ethereum Target Fresh Lows, Altcoins Decline
- Bitcoin price might extend losses below USD 21,000.
- Ethereum is struggling to stay above USD 1,550, XRP could decline to USD 0.32.
- SOL and DOGE are signaling a sharp decline.
Bitcoin price attempted an upside correction above the USD 21,500 level. However, BTC failed to continue higher above USD 21,750. It is currently (11:20 UTC) declining and remains at a risk of a move below USD 21,000.
Similarly, most major altcoins are moving lower. ETH could accelerate lower below the USD 1,550 support zone. XRP is at risk of a move to USD 0.305. ADA may perhaps decline below the USD 0.45 support.
Total market capitalization
After a major decline, the bitcoin price attempted a recovery wave above the USD 21,500 level. However, upsides were capped above the USD 21,750 level. The price is now moving lower and trading below USD 21,500. An immediate support is near the USD 21,000 level. The next major support is near the USD 20,800 zone, below which the price could decline to USD 20,000.
On the upside, the price might face resistance near the USD 21,750 level. The next resistance is near the USD 22,000 level, above which the bulls might attempt a steady increase.
Ethereum price failed to stay above the USD 1,620 level. ETH started another decline and traded below the USD 1,600 level. On the downside, initial support is near USD 1,550. The next major support is USD 1,500, below which the price could even decline to USD 1,425.
On the upside, the price could face resistance near the USD 1,620 level. The next key resistance is near the USD 1,650 level, above which the price might start a recovery wave towards the USD 1,750 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is struggling to recover above the USD 0.465 resistance level. There seems to be a risk of a move below the USD 0.45 support. In the stated case, the price may perhaps decline towards the USD 0.42 support.
BNB attempted to clear the USD 305 resistance zone. However, the price failed and declined below USD 300. If the bears remain in action, the price could decline towards the USD 288 support zone.
Solana (SOL) is down over 3% and trading below the USD 35 support zone. The next major support is near the USD 33.50 level, below which the bears may perhaps aim a move towards USD 32.
DOGE is now trading well below the USD 0.070 zone. The next major support is near USD 0.065. Any more losses could open the doors for a move towards the USD 0.0620 support.
XRP price is struggling to stay above the USD 0.335 support. If there is a downside break, the price might test USD 0.32. The next major support sits at USD 0.305.
Other altcoins market today
Many altcoins are moving lower, including DOT, AVAX, MATIC, UNI, ETC, LINK, CRO, NEAR, ATOM, FLOW, ALGO, and VET. Out of these, NEAR might dive below the USD 4 support zone.
To sum up, the bitcoin price is moving lower towards USD 21,000. If BTC drops below USD 21,000, it might continue to slide towards USD 20,000.