- Bitcoin price failed to clear the USD 20,500 resistance.
- Ethereum struggled near USD 1,120, XRP failed to recover above USD 0.335.
- MATIC trimmed gains but is still above USD 0.60.
Bitcoin price had started a recovery wave above the USD 20,000 resistance zone, before dropping below it. BTC even attempted a break above the USD 20,500 resistance but failed. It is currently (11:27 UTC) moving lower and might revisit USD 19,500.
Similarly, most major altcoins struggled to clear key hurdles. ETH topped near the USD 1,120 resistance. XRP failed to climb above the USD 0.335 resistance. ADA is consolidating near the USD 0.420 level.
Total market capitalization
Bitcoin price
After a close above the USD 19,500 level, bitcoin price extended its upsides. BTC climbed above the USD 20,000 resistance level. It even moved above the USD 20,200 level, but there was no upside break. The price failed to move above USD 20,500 and started a downside correction. It is back below USD 20,000. On the downside, initial support is near the USD 19,500 level. The next major support is near the USD 19,200 zone, below which the price could resume its decline.
On the upside, the price is facing resistance near USD 20,200. The next major resistance could be USD 20,500, above which the price might start an increase.
Ethereum price
Ethereum price also followed a similar pattern above the USD 1,050 and USD 1,080 resistance levels. It even broke the USD 1,100 level but struggled near USD 1,120. On the downside, the price might find support near USD 1,050. The next major support is near USD 1,020, below which the price could visit the USD 1,000 support zone.
On the upside, the bears might be active near USD 1,100. The next major resistance sits at USD 1,120, above which the price could aim for a test of USD 1,150.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to start an increase above the USD 0.435 level. It is now consolidating near the USD 0.42 level, below which the price might test the USD 0.402 level.
BNB failed to move above the USD 235 resistance zone. It is now moving lower and trading below USD 230. The next major support is near the USD 220 level.
Solana (SOL) failed to gain strength above the USD 35 level. The price is now moving lower and approaching the USD 33 support level. The next major support is near USD 32.
DOGE struggled to clear the USD 0.0620 resistance. The price is now back below the USD 0.060 level. If the bears remain in action, the price may perhaps test the USD 0.058 level.
XRP price is moving lower towards the USD 0.312 level. The next major support is near USD 0.302, below which there is a risk of a sharp decline.
Other altcoins market today
Many altcoins are showing bearish signs, including TRX, SHIB, FTT, CRO, ALGO, ETC, ICP, SAND, FLOW, MANA, APE, and FIL. Out of these, MATIC is still trading above the USD 0.60 support.
To sum up, bitcoin price is moving lower below USD 20,000. If BTC fails to stay above USD 19,500, it could start a major decline in the near term.
_____
Read the full article here
Follow us on Google News to get the latest Updates
