- Bitcoin price is struggling to stay above the $20,000 support.
- Ethereum is approaching $1,000, XRP holds support at $0.305.
- Several altcoins are down more than 10%.
Bitcoin price struggled to clear the $23,000 resistance level and fell below $21,200. It is currently (04:09 UTC) showing bearish signs near USD 20,400 and is down 8% in a day and 32% in a week.
Likewise, most major altcoins are also falling. ETH is trading below the key pivot level of $1,150. XRP is consolidating near $0.320. ADA is down 7% and trading near $0.48.
Total market capitalization
After an upward correction, bitcoin price struggled to break above the $23,000 and $23,200 resistance levels. A high was formed near $23,000 and the price started a further decline below the $21,200 level. On the downside, an initial support is near the USD 20,250 level. The next major support is near the $20,000 area, below which the price could fall sharply.
On the upside, the first key resistance is near the $21,200 level. The next major resistance is near the $22,000 level, above which the price may revisit $23,000.
Ether price also struggled to clear the resistance at $1,250. ETH started a fresh decline below the $1,200 and $1,150 levels. It is now trading near the $1070 level, with immediate support at $1040. ETH is down almost 12% in one day and 40% in one week. The next major support is near USD 1,000, below which the bears could aim for another sharp decline.
On the upside, the price is facing resistance near the $1,120 level. The next major resistance is near $1150, above which the price may revisit the $1250 level.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) started a fresh decline below the $0.50 support. The price even traded below the $0.48 level before recovering. If the bears stay in action, the price might even test $0.45.
BNB settled below the $220 pivot level. It might continue to slide below the USD 212 level. However, the bulls might still try to protect the $200 support zone.
Solana (SOL) reduced gains and decreased by more than 11%. The price is now approaching the USD 30 level. A break down below the USD 30 level could perhaps initiate a stronger decline.
DOGE is moving lower towards the support level of $0.0550. The next major support is near the $0.0535 level, below which there is a risk of a move towards the $0.0520 support zone.
XRP Price is stable above the resistance of $0.312. The price is facing resistance near the $0.335 area. On the downside, the bulls could remain active around $0.305 and $0.300.
Market of other altcoins today
Many altcoins are down more than 10%, including DOT, AVAX, LTC, MATIC, LINK, UNI, BCH, NEAR, ALGO, ETC, ATOM, and FLOW. RUNE is the worst performer among the top 100 coins, as it fell 16%, while only XCN is green today, having risen more than 2%.
Overall, bitcoin price is showing bearish signs below the $21,500 level. If BTC slips below USD 20,000, there is a risk of a sharp downside.