Bitcoin, Ethereum and Altcoin in free fall
- The price of Bitcoin it dropped sharply below $ 45,000.
- Ethereum fell 10% towards USD 3,400, XRP fell below USD 0.80.
- ICP and AXS fell by 18%.
Bitcoin’s price has started a major decline from well beyond the USD 47,000 level. BTC plunged below the USD 45,500 support zone. Currently (04:40 UTC) it is down nearly 8% and is trading close to USD 42,900.
Likewise, most of the main ones altcoin suffered a sharp decline. ETH traded below the USD 3,800 and USD 3,750 support levels. XRP fell below the USD 0.80 support. ADA gained bearish momentum below the USD 1.30 support zone.
Total market capitalization
The price of Bitcoin
After a strong rejection near USD 47,500, the price of bitcoin has started a new decline. BTC traded below the USD 46,000 and USD 45,500 levels. The bears also pushed the price below the USD 43,500 support zone. It tested the USD 42,500 level and is currently consolidating losses near USD 42,900. On the upside, a first hurdle is near the USD 44,000 level. The first major resistance is found near USD 44,500, above which the price may accelerate.
On the downside, initial support is near the USD 42,800 level. The next key support is near USD 42,500, below which the price may fall again.
The price of Ethereum
The price of Ethereum began a major decline below the USD 3,700 level. ETH fell 10% and there was a clear move below the USD 3,500 level. It is now consolidating losses, with initial support below the USD 3,450 level. The next key support is near USD 3,400, below which the price could test USD 3,300.
Immediate resistance is near the USD 3,550 level. The next key hurdle is near USD 3,580, above which the price could rise towards USD 3,700.
The price of ADA, BNB, SOL, DOGE and XRP
Cardano (ADA) is down nearly 10% and there has been a sharp drop below USD 1.30. It is now consolidating near the USD 1.22 level. A break down below USD 1.22 could trigger a move towards USD 1.20 or even USD 1.18.
Binance coin (BNB) is down 10% and there has been a break below the USD 480 support level. Immediate support is near the USD 455 level, but key support is USD 450. Further losses may require a move towards USD 432.
Solana (SOL) is down 12% and the price has dropped sharply below the USD 165 support. It is now consolidating below USD 150. A close below this level could trigger another drop towards the USD 132 level.
Dogecoin (DOGE) is gaining pace below the USD 0.162 support. The price is now approaching the USD 0.150 support. If the bears stay in action, the price could drop towards the USD 0.132 level.
The price of XRP is down 9% and there has been a move below the USD 0.80 level. Immediate support is near the USD 0.750 level. If there is a break down below USD 0.750, the price could fall towards USD 0.720.
More altcoin markets today
Many altcoins are down more than 10%, including ICP, AXS, XTZ, GALA, HBAR, CRV, LRC, VLX, EGLD, COMP, WAVES, and FIL. Among them, ICP fell 18% and fell below the USD 30 level, reducing its weekly earnings to 24%. Among the top 100 cryptocurrencies by market capitalization, only LEO is up (less than 1%).
Overall, the price of bitcoin is gaining bearish momentum below the USD 44,000 level. If BTC fails to recover, there could be a move towards USD 42,000.
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