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Bitcoin and Ethereum Trim Gains, Altcoins Drop Even More

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  • Bitcoin price declined below the USD 37,500 support.
  • Ethereum is back below USD 2,700, XRP is struggling to stay above USD 0.60.
  • LUNA and SOL are down more than 6%.

Bitcoin price failed to make a move towards the USD 40,000 resistance. BTC started a fresh decline from USD 39,200 and declined below USD 37,000. It is currently (04:11 UTC) down 4% and there is a risk of more losses below USD 36,800.

Similarly, most major altcoins are moving lower. ETH topped near USD 2,800 and declined below USD 2,700. XRP failed to climb higher towards the USD 0.650 resistance. ADA is moving lower towards the USD 1.02 support.

Total market capitalization

Source: tradingview.com


Bitcoin price

After a key rejection near USD 39,200, bitcoin price saw a bearish wave. BTC declined below the USD 37,000 level while an immediate support is near the USD 36,500 level. The next major support is near USD 36,000, below which the price could continue to move down.

If there is a fresh upward move, the price could face resistance near USD 37,800. The next major resistance is near the USD 38,000 level, above which the price could gain momentum.

Ethereum price

Ethereum price failed to clear the USD 2,800 resistance zone. There was a drop below the USD 2,700 level and the price might move down further. An initial support is near the USD 2,650 level. The next major support is near USD 2,600, below which the price may perhaps decline sharply.

On the upside, ETH could face resistance near USD 2,750. The next key resistance is near the USD 2,800 level, above which the price could rise steadily.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) topped near the USD 1.10 level and started a fresh decline. It is back below USD 1.05 and might continue to move down towards USD 1.02. The main support is near the USD 1.00 zone.

Binance coin (BNB) failed to clear the USD 388 level. There was a bearish wave below the USD 375 level. The price even traded below USD 370 and might test the USD 355 level.

Solana (SOL) faced a strong selling interest near the USD 112 resistance. It reacted to the downside below the USD 105 level. The price is down 10% and there was a clear move below the USD 100 support.

DOGE remained well below the USD 0.150 resistance. It is now approaching the USD 0.135 support. A downside break below USD 0.135 may possibly send DOGE towards the USD 0.122 level.

XRP price remained well below the USD 0.650 level. It is now struggling to stay above the USD 0.60 support. Any more losses could send the price towards the USD 0.58 support level in the near term.

Other altcoins market today

Many altcoins are down over 5%, including LUNA, DOT, AVAX, SHIB, CRO, LTC, ATOM, LINK, NEAR, UNI, ALGO, and XLM. Out of these, LUNA is down more than 6% and traded below the USD 50 level, increasing its weekly losses to 18%. Meanwhile, BITTOLD dropped 24%, reaching USD 0.00173.

Overall, bitcoin price is moving lower towards USD 36,500 again. If BTC fails to stay above USD 36,500, there could be a stronger decline towards the USD 35,000 level.


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