Bitcoin Nears USD 20K, Ethereum Keeps Trimming Weekly Gains, Most Altcoins in Red
- Bitcoin price is moving lower towards USD 20,000.
- Ethereum is testing USD 1,150, XRP is approaching USD 0.320.
- Only several altcoins are in the green today.
Bitcoin price failed to start a stronger increase above the USD 21,200 level, started another decline, and traded below USD 21,000. It is currently (04:07 UTC) trading near USD 20,300 and is down 2% in a day and a week.
Similarly, most major altcoins are showing signs of more losses. ETH is struggling to stay above USD 1,150. XRP is now moving lower towards USD 0.32. ADA could dive towards the USD 0.455 support zone.
Total market capitalization
Bitcoin price
After a bearish rejection above the USD 21,200 level, bitcoin price started another decline. The bears even pushed the price below the USD 20,500 level. On the downside, an initial support is near the USD 20,000 level. The next major support is near the USD 19,450 zone, below which the price could even test USD 18,800.
On the upside, the price might face resistance near the USD 20,650 level. The next major resistance is now near USD 21,000, above which the price could attempt a stronger increase.
Ethereum price
Ethereum price also started another decline from the USD 1,220 resistance zone and is now struggling to stay above the USD 1,150 support zone. ETH dropped 3% in a day, trimming its weekly gains to 2%. The next major support is near USD 1,120, below which the price could even dive to USD 1,050.
On the upside, an immediate hurdle is near the USD 1,200 level. The next major resistance is near USD 1,250, above which the price could start a fresh increase.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to stay above the USD 0.50 resistance. The price is moving lower and trading below USD 0.48. If there are additional losses, the price could even test the USD 0.455 level.
BNB failed to clear the USD 242 resistance zone. It is down almost 3% and trading below USD 230. If the bears remain in action, the price may perhaps decline towards the USD 220 support zone.
Solana (SOL) is down almost 6% and trading well below USD 38. The first major support is near the USD 35.00 level, below which the price might even test the USD 32 level.
DOGE is trimming gains and trading below the USD 0.070 support zone. The next major support is near the USD 0.065 level, below which there is a risk of a move towards the USD 0.0620 level.
XRP price is now trading well below the USD 0.35 support. It seems like the bears are aiming for a test of the USD 0.32 support. Any more losses could send the price towards the USD 0.30 support level.
Other altcoins market today
Many altcoins are in the red zone, including DOT, SHIB, AVAX, CHZ, ENJ, LTC, UNI, FTT, NEAR, ETC, BCH, SAND, HNT, and EGLD. Out of these, ENJ and CHZ are the worst performers among the top 100 cryptoassets by market capitalization today. Meanwhile, several altcoins are up 2%-15%, including MATIC, 10SET, APE, BTT, TITAN, SNX, and 1INCH.
Overall, bitcoin price is moving lower towards USD 20,000. If BTC fails to stay above USD 20,000, there is a risk of a sharper decline.
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