Bitcoin Trims Gains, Ethereum and Altcoins Struggle
Bitcoin price failed to stay above USD 35,000 and corrected gains. Ethereum traded below the USD 1,920 support, XRP might revisit USD 0.60. QNT rallied almost 12%, and CELO is up 17%.
Bitcoin price extended its upward move above the USD 35,000 resistance. However, BTC struggled to clear USD 35,500 and it started a fresh decline. It broke the USD 34,000 support zone, and it is currently (12:46 UTC) showing signs of more possible downsides.
Besides, most major altcoins are also moving lower. ETH failed to settle above USD 2,000 and it declined below USD 1,920. XRP/USD also trimmed gains and it could move down to USD 0.60.
Total market capitalization
Bitcoin price
After a decent increase, bitcoin price failed to stay above the USD 35,000 zone. BTC topped near USD 35,500 before the bears were able to push the price below USD 34,000. If the price continues to move down below USD 33,500, there could be a drop towards the USD 32,200 support.
On the upside, the USD 35,000 level is again a key breakout zone. A daily close above USD 35,000 is must to start a steady increase towards USD 38,000 in the near term.
Ethereum price
Ethereum price struggled below the USD 2,050 level and it failed to settle above USD 2,000. There was a bearish reaction and ETH declined below the USD 1,920 level. It even declined below USD 1,900 and it seems like there is a risk of a sharp decline below the USD 1,700 level.
On the upside, the price might continue to face resistance near USD 1,980 and USD 2,000. The main resistance is still near the USD 2,050 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) topped near the USD 315 level and it started a fresh decline. BNB broke the USD 300 support and it might revisit USD 280. Any more losses might call for a move towards the USD 265 support. On the upside, the USD 300 level is a short-term resistance.
Litecoin (LTC) spiked above USD 135, but it struggled to test USD 142. It is moving lower and it might test USD 125. The key support sits at USD 120, below which the price might decline towards USD 105. Conversely, the bulls might make another attempt to push the price towards USD 142.
Dogecoin (DOGE) spiked above USD 0.280 before it faced sellers. The price is trimming gains and it already broke the USD 0.250 support. If the bears remain in action, there could be a drop towards the USD 0.220 level.
XRP price failed below the USD 0.700 resistance zone. It traded below the USD 0.650 support and it seems like the bears are aiming for a test of USD 0.600. The next major support is at USD 0.580.
Other altcoins market today
A few altcoins climbed over 10%, before trimming gains, including QNT, CELO, SC, RUNE, WAVES, CRO, and CRV. Conversely, KSM, ICP, FTM, and KLAY are down over 10%.
To sum up, bitcoin price failed to stay above the key USD 35,000 level. If BTC fails to stay above USD 32,200, the bears might take control in the coming sessions. The next major support is USD 30,000.
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