Bitcoin Flat, Ethereum, Altcoins Struggle to Hold Important Support
Bitcoin price traded below USD 32,000 and it remains at a risk of more losses. Ethereum is trading below USD 2,500, XRP is struggling to recover above USD 0.88 and USD 0.90. BTG rallied over 35%, TFUEL extended its rise above 0.60.
Bitcoin price extended its decline below the USD 33,500 and USD 32,000 support levels. BTC tested the USD 31,000 zone and it is currently (05:05 UTC) trading just below USD 33,000 and is unchanged in a day. To start a decent increase, the price must move above the USD 33,500 and USD 34,000 resistance levels.
Similarly, most major altcoins are struggling to recover losses. ETH tested the USD 2,300 zone and it is back above USD 2,400. XRP/USD spiked below the USD 0.820 and USD 0.80 support levels before recovering higher.
Total market capitalization
After a close below USD 35,000, bitcoin price extended its decline. BTC broke the USD 33,500 support zone and it even spiked below USD 32,000. It tested the USD 31,000 zone and recently started an upside correction. The price is back above USD 32,500, but it is facing a few hurdles near USD 33,200 and USD 33,500.
The main resistance is now forming near the USD 34,000 level. On the downside, the price might remain stable above the USD 32,000. If the price closes below USD 32,000, it could slide towards USD 31,000.
Ethereum price declined sharply below the USD 2,550 support level. ETH broke the USD 2,420 support and it even tested USD 2,300. The price is now recovering and trading above USD 2,400. To move into a positive zone, the price must break the USD 2,500 and USD 2,550 resistance levels.
If not, there are chances of more losses below the USD 2,400 and USD 2,350 support levels. The next key support is near the USD 2,300 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) spiked and tested the USD 320 support zone. BNB is attempting an upside correction and trading above USD 335. The first major resistance is near the USD 350 level, above which it could test the USD 365 resistance.
Litecoin (LTC) is still consolidating near the USD 150 level. If LTC starts a steady increase, the price could test the USD 165 resistance zone. On the downside, the price might remain well bid above USD 142 and USD 140. The next key support is near the USD 125 level.
Dogecoin (DOGE) is holding the USD 0.300 and USD 0.305 support levels. If there is a clear downside break below USD 0.300, the price could decline heavily. Conversely, the price could recover above USD 0.335. The next major resistance for the bulls is near the USD 0.350 level.
XRP price declined sharply and it even spiked below the USD 0.80 level. The price is now consolidating and it might attempt a recovery above USD 0.850. The first key resistance is near the USD 0.880 level, above which it could test USD 0.90.
Other altcoins market today
A few altcoins gained over 5%, including TFUEL, BTG, KSM, TEL, HNT, SOL, ZRX, CELO, CRV, and MIOTA. Out of these, BTG rallied over 35% and it cleared the USD 67 level.
Overall, bitcoin price is struggling to stay above the USD 32,000 support zone. A close below USD 32,000 could set the pace for a test or even a break of USD 30,000.