Bitcoin Price and Ethereum Bleed, Altcoins Takes Hit

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  • Bit­coin price declined over 6% and trad­ed below $19,000.
  • Ethereum declined over 10% and trad­ed below $1,320, XRP trad­ed below $0.35.
  • ETC, EOS, and RVN are down over 15%.

Bit­coin price failed to stay above the key $19,500 sup­port zone. BTC is cur­rent­ly (03:30 UTC) down over 6% and trad­ing below $19,000. It seems like ether’s price decline is drag­ging bit­coin low­er and might push it towards $18,000 or $17,800.

Sim­i­lar­ly, most major alt­coins are gain­ing bear­ish momen­tum. ETH start­ed a major decline and trad­ed below the $1,320 sup­port. XRP is mov­ing low­er towards the $0.335 sup­port. ADA might revis­it the $0.42 sup­port zone.

Bitcoin price

After a bear­ish reac­tion below the $19,500 sup­port, bit­coin price start­ed a major decline. BTC declined over 6% and there was a clear move below the $19,000 lev­el. The price is now mov­ing low­er towards the $18,500 sup­port zone. The next major sup­port is near the $18,200 zone, below which the price could even test the $18,000 sup­port zone.

Chart Source: Tradingview

On the upside, the BTC price is fac­ing resis­tance near $19,000. The next major resis­tance is now near the $19,350 lev­el and a con­nect­ing bear­ish trend line on the hourly chart, above which the price might test the 50-hour sim­ple mov­ing average.

Ethereum price

Ethereum price strug­gled to clear the $1,480 and $1,500 resis­tance lev­els. ETH declined heav­i­ly below the $1,400 lev­el and the 50-hour sim­ple mov­ing aver­age. It even broke the $1,320 lev­el and test­ed the $1,280 sup­port. The next major sup­port is $1,250, below which price could revis­it $1,200.

Chart Source: Tradingview

On the upside, an imme­di­ate resis­tance is near the $1,325 lev­el. The next major resis­tance is now form­ing near the $1,350 level.

ADA, BNB, SOL, DOGE, and XRP price

Car­dano (ADA) failed to clear the $0.50 resis­tance zone. It react­ed to the down­side and trad­ed below $0.450. Any more loss­es might send the price towards the $0.42 support.

BNB is down over 5% and there was a move below the $265 sup­port zone. The next major sup­port sits at $250, below which there is a risk of a move towards the $232 lev­el in the near term.

Solana (SOL) is again mov­ing low­er towards the $30.00 sup­port. If the bears remain in action, the price could even test the $28.50 lev­el. Con­verse­ly, it might rise and test the $32.50 resistance.

DOGE trad­ed below the key $0.060 sup­port lev­el. It is now down over 7% and the next major sup­port is near the $0.0550 lev­el. Any more loss­es might send the price towards the $0.0535 lev­el in the com­ing sessions.

XRP price is mov­ing low­er towards the $0.335 sup­port zone. If the bulls fail to pro­tect the $0.335 sup­port zone, there is a risk of a move towards the $0.320 level.

Other altcoins market today

Many alt­coins are down over 12%, includ­ing ETC, EOS, RVN, CRV, CEL, KSM, LDO, WAVES, AR, SNX, NEAR, and FLOW. Con­verse­ly, CHZ is up over 5% and show­ing pos­i­tive signs above the $0.23 level.

Cryp­to token pre­sale Tamadoge hit its hard cap today, a bull­ish sign for the new meme coin.

Over­all, the bit­coin price is gain­ing bear­ish momen­tum below the $19,000 lev­el. If BTC slides fur­ther, there is a risk of a move towards the $17,800 lev­el in the short-term.

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