Bitcoin and Ethereum Trend Lower, FIL Trims Gains

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  • Bit­coin price is mov­ing low­er towards USD 23,000.
  • Ethereum strug­gles above USD 1,650, XRP is con­sol­i­dat­ing near USD 0.372.
  • FIL is still the best per­former today despite trim­ming some of its gains.

Bit­coin price strug­gled to stay above the USD 24,000 resis­tance. BTC dipped and trad­ed below the USD 23,500 lev­el. It is cur­rent­ly (11:54 UTC) trad­ing just below USD 23,250 and is down over 2% in a day and up 3% in a week.

Sim­i­lar­ly, most major alt­coins might accel­er­ate their down­side cor­rec­tion. ETH declined below the USD 1,700 lev­el and might revis­it USD 1,550. XRP is now con­sol­i­dat­ing near the USD 0.372 lev­el. ADA is mov­ing low­er towards the USD 0.505 support.

Total mar­ket capitalization

Source: coincodex.com

Bitcoin price

After a close below the USD 24,000 lev­el, bit­coin price moved low­er and trad­ed below the USD 23,300. On the down­side, the price is strug­gling to stay above the USD 23,000 zone. The next major sup­port is near the USD 22,500 zone, below which the price might gain bear­ish momentum.

On the upside, an imme­di­ate resis­tance is at USD 23,500. The next major resis­tance could be USD 24,000, above which the price could start a fresh increase.

Ethereum price

Ethereum price set­tled below the USD 1,700 piv­ot lev­el. ETH is mov­ing low­er and strug­gling to stay above the USD 1,650 lev­el. The price is down 3% in a day and is still up 4% in a week. If there is a down­side break, ETH could test the USD 1,620 sup­port. The next major sup­port is near the USD 1,600 zone, below which the price might drop to USD 1,550.

On the upside, the price might face resis­tance near USD 1,700. The next key resis­tance is near the USD 1,720 lev­el, above which ETH might start a fresh increase.

ADA, BNB, SOL, DOGE, and XRP price

Car­dano (ADA) failed to clear the USD 0.55 resis­tance zone. There was a down­side cor­rec­tion, and ADA dropped below USD 0.52. If the bears remain in action, the price could even test USD 0.505.

BNB failed to test the USD 300 resis­tance and cor­rect­ed low­er. It is now mov­ing in a range near USD 285 and might extend loss­es. The next major sup­port is at USD 275. On the upside, the USD 300 lev­el is a major bar­ri­er for the bulls.

Solana (SOL) is down 5% and trad­ing near the USD 42 sup­port lev­el. If there are more loss­es, the price may per­haps drop towards the USD 40 sup­port. On the upside, the bears might remain active near the USD 45 zone.

DOGE set­tled below the USD 0.0700 sup­port. The next major sup­port is USD 0.0665, below which the price might drop towards the USD 0.0650 level.

XRP price climbed high­er towards the 0.40 resis­tance zone, where it faced sell­ers. The price is now mov­ing low­er and might drop towards the USD 0.355 sup­port zone in the near term.

Other altcoins market today

Many alt­coins are mov­ing low­er, includ­ing MATIC, AVAX, UNI, ETC, LTC, FTT, NEAR, ATOM, BCH, VET, MANA, and AAVE. Mean­while, FIL dropped from USD 11.24, reached ear­li­er today, to USD 9.41, but is still the best per­former among the top 100 cryp­toas­sets by mar­ket cap­i­tal­iza­tion today as it jumped 12% in the past 24 hours. It’s also up 66% in a week.

To sum up, bit­coin price is strug­gling to start anoth­er increase above USD 24,000. If BTC set­tles below USD 23,000, there is a risk of a sharp­er decline.

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