Bitcoin and Ethereum Trend Negative, BNB Shines
- Bitcoin price dived below the USD 22,000 support level.
- Ethereum tested the USD 1,550 support zone, XRP is stable above USD 0.335.
- BNB is up 5%, and EOS is gaining bullish momentum.
Bitcoin price accelerated lower below the USD 23,200 support. BTC traded below the USD 22,000 support zone and tested USD 21,000. It is currently (04:00 UTC) consolidating losses and facing many hurdles near USD 22,000.
Similarly, most major altcoins are back in a bearish zone. ETH dived below the USD 1,750 and USD 1,650 support levels. XRP tested the USD 0.335 support zone. ADA is consolidating above the USD 0.45 support.
Total market capitalization
After a sharp decline below the USD 22,500 support, the bitcoin price moved into a bearish zone. BTC traded below the USD 22,000 and USD 21,500 support levels. It tested the USD 21,000 zone and is currently correcting losses. On the upside, the price is facing resistance near the USD 21,650 level. The next resistance is near the USD 22,000 level. The main weekly resistance is now near USD 23,000, above which the price might start a fresh increase.
An immediate support is near the USD 21,200 level. The next major support is near the USD 21,000 zone, below which the price could resume its downtrend.
Ethereum price also gained bearish momentum below the USD 1,750 level. ETH even traded below the USD 1,600 support and tested USD 1,550. It is correcting losses and trading above USD 1,600. On the upside, the price could face resistance near the USD 1,650 level. The next key resistance is near the USD 1,720 level, above which the price could rise steadily.
On the downside, initial support is near USD 1,580. The next major support is USD 1,550, below which the price could dive towards USD 1,500.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) gained bearish momentum below the USD 0.50 support zone. The price tested the USD 0.45 support zone and started a consolidation phase.
BNB remained well bid above the USD 275 support zone. It recovered and gained over 5%. The price is now trading near USD 300, with an immediate resistance at USD 305.
Solana (SOL) spiked below the USD 35 support zone. It is now correcting losses and testing USD 36.50. The first resistance is near USD 37.20, above which the price might rise steadily.
DOGE settled below the USD 0.070 support zone. To start a fresh increase, the price must recover above USD 0.0700 and USD 0.072. If not, it may drop towards the USD 0.065 support.
XRP price traded below the USD 0.35 support and tested USD 0.335. It is now consolidating and might attempt a fresh increase above the USD 0.35 resistance zone.
Other altcoins market today
A few altcoins are correcting losses, including DOT, SHIB, MATIC, UNI, FTT, BCH, VET, APE, EOS, QNT, EGLD, and AAVE. Out of these, EOS is up over 8% and trading above the USD 1.55 level.
Overall, the bitcoin price is showing bearish signs below the USD 22,000 level. If the bears remain in action, there could be a drop towards the USD 20,000 level.