Ethereum and Altcoin go down, as opposed to Bitcoin
- The price of Bitcoin it is showing bearish signs below the USD 50,000 resistance but is outpacing the major currencies.
- Ethereum is down 5%, XRP is consolidating gains near USD 0.85.
- IOTX gained 14% and broke the USD 0.13 level.
Bitcoin’s price failed to break out of the USD 50,000 resistance zone and corrected the gains. BTC traded below the USD 49,000 support level. Currently (04:26 UTC) it is showing bearish signs near USD 48,500 and fell more than 2% in one day.
However, BTC is outpacing most of the major ones altcoin today, as they are down 3% -10%. Except XRP which is unchanged in one day and is consolidating gains after a strong move above USD 0.90. ETH It fell 5% and is trading below the USD 4,200 level. ADA is sliding towards the USD 1.30 level.
Total market capitalization
The price of bitcoin
After a close below $ 50,000, bitcoin’s price struggled to start a new rise. BTC even dropped below $ 49,000, but the bulls protected $ 47,000. It is now trading near $ 48,500 and is facing resistance near the $ 49,500 zone. The main resistance is still near $ 50,000. A close above $ 49,500 and $ 50,000 could open the door for more hikes. The next major resistance is near the $ 52,000 level.
Immediate bearish support is near USD 47,800. The next major support is near the $ 47,000 level, below which the price may drop further.
The price of Ethereum
The price of Ethereum has started a new decline from the USD 4,400 resistance. ETH broke below the USD 4,250 and USD 4,200 support levels. On the downside, initial support is near the USD 4,150 level. The next key support is near the USD 4,050 level, below which bears could gain strength.
If a further rise occurs, the price could face resistance near USD 4,250. A clear move above the USD 4,200 and USD 4,250 levels could set the pace for a steady rise.
The price of ADA, BNB, SOL, SHIB and XRP
Cardano (ADA) is down 5% and there has been a break below the USD 1.32 support. The next key support is near the USD 1.30 level. A close below USD 1.30 could possibly initiate a decline towards the USD 1.20 level.
Binance coin (BNB) failed to stay above USD 600 and started a new decline. There was a clear break below the USD 585 support. It is now trading below USD 580 and could slide towards USD 565, below which it could fall towards USD 550.
Solana (SOL) fell 6% and tested the USD 180 support level. Further losses could push the price towards the USD 165 level. A first hurdle is near USD 188, above which it could rise towards the USD 200 level.
Shiba Inu (SHIB) is struggling to stay above the USD 0.0000355 level. A break down could push the price towards the $ 0.0000320 level. Conversely, there may be a recovery wave towards the $ 0.0000365 zone. The next major resistance is near the $ 0.000038 level.
The price of XRP rose above the $ 0.90 level before there was a strong downward correction. The price is now consolidating gains near the $ 0.85 level. Further losses may require a $ 0.820 test.
More altcoin markets today
Many altcoins are down more than 5%, including XTZ, WAXP, UNI, 1INCH, AAVE, QTUM, OMG, ONE, RUNE, COMP, THETA, FTT, and FTM. Of that, XTZ fell 11% and traded below $ 5.0. Meanwhile, OHM, CEL and IOTX all went up 6% -14%.
Overall, the price of bitcoin is consolidating near the USD 48,000 level. If BTC breaks the USD 47,000 support, there could be an increase in selling pressure.
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