Bitcoin and Ethereum Struggle to Recover Further, Altcoins Dip

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  • Bit­coin price is strug­gling to stay above USD 20,000.
  • Ethereum could revis­it USD 1,000, XRP is strug­gling below USD 0.35.
  • ADA and SOL are down 6%.

Bit­coin price failed to stay above the USD 21,200 resis­tance zone and cor­rect­ed below the USD 20,500 lev­el. It is cur­rent­ly (12:48 PM UTC) trad­ing near USD 20,200 and is down 4% in a day and almost 8% in a week.

Sim­i­lar­ly, most major alt­coins are also mov­ing low­er. ETH declined below USD 1,120 and might even retest USD 1,000. XRP is stuck near USD 0.320. ADA is down 6% and approach­ing the USD 0.45 sup­port zone.

Total mar­ket cap­i­tal­iza­tion
 

Source: tradingview.com

Bitcoin price

After a rejec­tion above USD 21,500, bit­coin price slipped below USD 21,200. BTC even declined below the USD 20,500 sup­port zone to enter a neg­a­tive zone. On the down­side, an ini­tial sup­port is near the USD 20,000 lev­el. The next major sup­port is near the USD 19,500 zone. A close below the USD 19,500 lev­el could restart the down­trend and the price might slide towards USD 18,500.

On the upside, an imme­di­ate resis­tance is near the USD 21,000 zone. The main piv­ot zone is now near USD 21,200 and USD 21,500, above which the price could start a steady increase.

Ethereum price

Ethereum price also failed to stay above the USD 1,150 resis­tance zone. ETH trad­ed low­er and declined below the USD 1,100 lev­el. The bulls are now pro­tect­ing the USD 1,050 sup­port zone. If there are addi­tion­al loss­es, the price could revis­it USD 1,000. The next major sup­port is near USD 935. ETH is down 6% in a day and almost 10% in a week. 

On the upside, the price is fac­ing resis­tance near the USD 1,132 lev­el. The next major resis­tance is near USD 1,150, above which the price could rise to USD 1,200.

ADA, BNB, SOL, DOGE, and XRP price

Car­dano (ADA) start­ed a fresh decline below the USD 0.48 sup­port zone. It even moved below the USD 0.465 lev­el. It seems like the bears are aim­ing for a test of the USD 0.45 support.

BNB start­ed a fresh decline below the USD 220 lev­el. The price test­ed the USD 212 sup­port lev­el. If the bears remain in action, there is a risk of a move towards the USD 200 sup­port zone.

Solana (SOL) trimmed gains from the USD 40 zone. The price is now con­sol­i­dat­ing gains near the USD 35 lev­el. If there is a down­side break below the USD 35 lev­el, the price might slide towards USD 32.

DOGE is stuck near the USD 0.0620 zone. An imme­di­ate resis­tance is near the USD 0.065 lev­el, above which the price could rise towards USD 0.070. If not, the price may per­haps slide below USD 0.060.

XRP price is stuck near the USD 0.32 zone. If the bulls fail to push the price above USD 0.35, there could be a stronger bear­ish reac­tion. Con­verse­ly, the price could move towards USD 0.40.

Other altcoins market today

Many alt­coins are down over 5%, includ­ing DOT, AVAX, MATIC, LINK, NEAR, ETC, XMR, VET, MANA, EGLD, and APE. Out of these, CEL is down over 15% and trad­ing near the USD 1 lev­el. Mean­while, UNI and WAVES are up 11%.

To sum up, bit­coin price is strug­gling to recov­er fur­ther above USD 21,200. If BTC slides below USD 20,000, there could be a fresh bear­ish wave.

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