Bitcoin Price Fluctuates Around USD 10K, Altcoins Decline
Bitcoin price recently traded below the USD 10,000 support. Ethereum is trading below USD 212 and ripple price broke the USD 0.285 support area. CRPT, WAVES and BCV are up more than 10% today.
This past week, bitcoin struggled to continue above the USD 10,350 and USD 10,400 resistance levels. As a result, BTC/USD declined and traded below the USD 10,150 and USD 10,000 support levels. On the other hand, there were sharp gains in major altcoins, including ethereum, ripple, EOS, BNB, litecoin, bitcoin cash and stellar. ETH/USD tested the USD 225 level before it started a major downside correction below USD 215. Similarly, XRP/USD trimmed most its gains and recently traded below the USD 0.300 and USD 0.285 support levels. Overall, the market is currently (08:00 UTC) declining and there is a risk of more losses as long as bitcoin is below USD 10,400.
Total market capitalization
There were bearish moves in bitcoin price below the USD 10,150 support levels. BTC/USD is now trading below the USD 10,000 support, with an immediate support near USD 9,800. If there are more downsides, the price may perhaps revisit the USD 9,550 weekly support area.
On the upside, an immediate resistance is near the USD 10,150 level. The main resistance is near the USD 10,280 and USD 10,350 levels. However, the price must climb above the USD 10,400 weekly resistance to continue higher. If no, the price could continue to decline towards USD 9,550 and USD 9,200.
Ethereum price started a major downside correction after setting a short term top near the USD 225 level. ETH/USD declined below the USD 215 support and it is currently trading below USD 210. If there are more downsides, the price could test the key weekly support at USD 202.
On the upside, an initial hurdle is near the USD 215 level, above which the price could revisit the USD 225 monthly high. Any further gains might call for a push towards the USD 235 and USD 240 levels.
Bitcoin cash, eos and ripple price
Bitcoin cash price failed to settle above USD 325 once again and it recently started a fresh decline. BCH/USD is trading below the USD 310 level and it seems like the price could revisit the USD 300 support area. The next crucial support is near the USD 285 level.
EOS struggled to continue above USD 4.200 and it recently declined below the USD 4.000 support area. The price trading below the USD 3.900 level and it seems like the price is heading towards the USD 3.700 and USD 3.650 levels. On the upside, the price may perhaps face hurdles near USD 3.900 and USD 4.000.
Ripple price is down more than 15% from this month high and is trading below the USD 0.300 and USD 0.285 support levels. XRP/USD is currently down 3% and it is approaching the USD 0.270 and USD 0.265 support levels. On the upside, the price may struggle to clear USD 0.285 and USD 0.300.
Other altcoins market today
In the past two sessions, a few small cap altcoins retained the bullish tone and climbed more than 5%, including CRPT, WAVES, BCV, BCN, VSYS and NRG. On the other hand, ETP, ZRX, REN, ALGO, WIN, TRX and IOST declined more than 5%.
Overall, bitcoin price is showing bearish signs below the USD 10,150 and USD 10,200 resistance levels. BTC/USD could start a fresh increase only if it settles above USD 10,350 and USD 10,400. If not, it remains at a risk of more downsides below USD 9,550.