- Bitcoin price dipped below $20,000 before recovering.
- Ethereum was trading below $1,150, XRP may extend losses to $0.305.
- BNB, DOGE and SOL are down more than 8%.
Bitcoin price broke above the $20,500 support and tested $20,000. It is currently (11:52 UTC) showing bearish signs near USD 20,100 and declining almost 5% in one day and 3% in one week.
Likewise, most major altcoins are falling. ETH is down 9% and trading below $1,150. XRP is approaching the support at $0.32. ADA might test the $0.455 support zone.
Total market capitalization
After a close below the USD 21,000 level, bitcoin price extended its losses and briefly dipped below USD 20,000 before recovering. A bearish close below the $20,000 support could trigger a further decline. The first major support on the downside is near the USD 19,500 level. The next major support is near the $18,800 area, below which the price might even test $18,000.
On the upside, the price might face resistance near the $20,500 level. The next major resistance is now near $20,850, above which the price may even break above $21,200.
Ether price also started a fresh decline below the $1,200 support and broke below the $1,150 support area. It is now struggling to stay above the USD 1100 support zone and is down 9% in one day and almost 1% in one week. The next major support is near $1050, below which the price may revisit the $1000 handle.
If there is an upward correction, the price might face resistance near the $1150 level. The next major resistance is near $1,200, above which the price may rise steadily.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) is down nearly 5% and trading below the support of $0.48. The next major support is near the $0.455 level, below which the bears might test the $0.42 level.
BNB is down 8% and trading below the $225 support. If there is a move below the $212 support, the price might even test the $200 support zone.
Solana (SOL) is down nearly 12% and trading well below $35. The next major support is near the $33.20 level, below which the price might even test the $32 level.
DOGE is gaining bearish momentum below the $0.070 support zone and is down 8% in one day. The next major support is near the $0.065 level. Any further losses could send the price towards the $0.0620 level.
XRP Price is now approaching the support at $0.320. If the bears stay in action, the price might even test the $0.30 support level. Conversely, it could go up and see 0.35 USD again.
Market of other altcoins today
Many altcoins are down more than 5%, including DOT, SHIB, AVAX, LTC, UNI, FTT, NEAR, ETC, CRO, XLM, BCH, SAND, APE, and HBAR. Of these, APE is down 12% and trading below the $5.00 support. Meanwhile, SNX and 10SET are still up 6% and 10%, respectively.
In summary, bitcoin price is struggling to stay above the $20,000 support. A close below $20,000 could accelerate the downtrend and BTC could dip towards $18,800.