- The Bitcoin price reversed the gain and declined below USD 36,500.
- Ethereum is down below USD 2,800, XRP is testing USD 0.58.
- SOL and ADA are still down more than 10%.
The Bitcoin price failed to continue higher above the USD 40,000 resistance zone and started a new decline below the USD 38,500 support. BTC is down 8% a day and is currently (04:01 UTC) consolidating near USD 36,500. It’s also down 8% in the week.
In addition, most major altcoins decline strongly. ETH traded below the support levels of USD 2,780 and USD 2,750. XRP declined below the USD 0.60 support and tested USD 0.58. ADA was down almost 11% and traded below the USD 0.80 level.
Total market capitalization
After a strong rejection of close to USD 40,000, bitcoin price start a large decrease. BTC traded below the support level of USD 36,500 and tested USD 35,850. It is currently correcting losses and trading above USD 36,200. Direct resistance is near the USD 37,000 level. The next key resistance is now formed near the USD 37,500 level.
On the downside, initial support is close to USD 36,000. The next major support is close to USD 35,400, below which the price may go down again.
rega Ethereum also started a major decline from USD 2,950 resistance and tested USD 2,700 before recovering. It is currently consolidating near the USD 2,750 level and may face resistance near the USD 2,800 level. ETH is down almost 7% in the day and 6% in the week.
On the downside, immediate support is near the USD 2,700 level. The next major support is near the level of USD 2,680, below which the price could try USD 2,620.
Price ADA, BNB, SOL, DOGE, and XRP
Cardano (ADA) reverse all gains and decline below the USD 0.85 support. There is a clear move below the USD 0.80 level and the ADA may continue down to the USD 0.75 level.
BNB down more than 6% and there is a break below the support of USD 380. If the bears keep acting, the price may test USD 365. At the top, the level of USD 385 provides resistance.
Solana (SOL) saw a strong decline below the USD 90 level. It was down more than 12% and traded below the USD 85 level. The next major support on the downside is seen near the USD 80 level.
DOGE located below the USD 0.130 support. Even testing the USD 0.125 support level. If there is a break down below the level of USD 0.125, the price may slide to USD 0.122.
rega XRP also fell and declined below the USD 0.60 support. It tested USD 0.58 before recovering above USD 0.60. XRP is still down almost 7% daily. To start a new increase, the price must exceed USD 0.632.
Another altcoin market today
Many altcoins are down more than 8%, including LUNA, AVAX, DOT, APE, GMT, SHIB, MATIC, TRX, NEAR, LTC, BCH, LINK, FTT, LEO, and XLM. From this, APE is down almost 18%, while GMT is down 20%. All the top 100 cryptoassets are in red now.
Overall, the price of bitcoin fell sharply and traded below major support at USD 37,500. If BTC starts a recovery wave, the same support may turn into resistance.