- Bitcoin price failed to clear the resistance at $20,500.
- Ethereum struggled near $1,120, XRP failed to rally above $0.335.
- MATIC pared its gains but remains above $0.60.
Bitcoin price had started a wave of recovery above the $20,000 resistance zone, before falling below it. BTC even attempted a break above the $20,500 resistance but failed. It is currently (11:27 UTC) falling and could return to $19,500.
Similarly, most of the major altcoins struggled to clear major hurdles. ETH broke above near the resistance at $1,120. XRP failed to break above the resistance of $0.335. ADA is consolidating near the $0.420 level.
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bitcoin price
After a close above the USD 19,500 level, bitcoin price extended its benefits. BTC broke above the $20,000 resistance level. It even broke above the $20,200 level, but there was no breakout on the upside. The price failed to break above $20,500 and started a downward correction. It went back under 20,000 USD. On the downside, initial support is near the $19,500 level. The next major support is near the $19,200 area, below which the price may resume its decline.
On the upside, the price faces resistance near $20,200. The next major resistance could be $20,500, above which the price could start rising.
Ether price
Ether price also followed a similar pattern above the resistance levels of $1050 and $1080. It even broke above the $1,100 level but struggled near $1,120. On the downside, the price may find support near $1,050. The next major support is near $1020, below which the price may visit the $1000 support zone.
On the upside, the bears could be active near USD 1,100. The next major resistance lies at $1120, above which the price could aim for a test of $1150.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) failed to start a rise above the $0.435 level. It is now consolidating near the $0.42 level, below which the price might test the $0.402 level.
BNB failed to break above the $235 resistance zone. It is now falling and trading below 230 USD. The next major support is near the $220 level.
Solana (SOL) failed to strengthen above the USD 35 level. The price is now falling and approaching the $33 support level. The next major support is near USD 32.
DOGE struggled to clear the resistance at $0.0620. The price is now back below the $0.060 level. If the bears remain in action, the price may be able to test the $0.058 level.
XRP Price is moving lower towards the $0.312 level. The next major support is near $0.302, below which there is a risk of a steep downside.
Market of other altcoins today
Many altcoins are showing bearish signs, including TRX, SHIB, FTT, CRO, ALGO, ETC, ICP, SAND, FLOW, MANA, APE, and FIL. Of these, MATIC is still trading above the $0.60 support.
In summary, bitcoin price drops below $20,000. If BTC fails to stay above $19,500, it could start a major short-term decline.
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