- Bitcoin price is hovering below $20,000.
- Ethereum is struggling near $1,050, XRP is at risk below $0.32.
- SNX and QNT are the two best performers today.
Bitcoin price settled below the $20,500 level, extended losses and tested the $19,500 support zone. BTC is currently consolidating (14:57 UTC) near USD 19,900 and down almost 3% in one day and 2% in one week.
Likewise, most major altcoins are gaining bearish momentum. ETH traded below the $1,080 support zone. XRP drops towards USD 0.300. ADA tested USD 0.425 and remains at risk of further losses.
Total market capitalization
After a sharp drop below the USD 21,000 mark, bitcoin price followed a downward trajectory. The price even tested the $19,500 level, where the bulls took a stand. The next major support is near the $19,200 area, below which the price may plunge towards the $18,800 level.
On the upside, the price might face resistance near the $20,200 level. The next major resistance could be $20,500, above which bitcoin might trigger a wave of recovery.
Ether price prolonged losses below the $1,100 support. ETH even fell below $1080 and tested $1050. ETH is now trading near $1,070 and is down almost 6% in one day and 7% in one week. The next major support is near $1,020, below which the price could gain bearish momentum for a move towards $950.
On the upside, the price may face resistance near $1100. The next major resistance lies at $1,120, above which the price could start a wave of recovery.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) settled below the $0.45 support zone. It even tested the $0.425 level before falling back to $0.433 again.
BNB settled below the $230 level and tested the $225 support. The next major support is near the $220 level, below which the bears might aim for a move towards the $200 level.
Solana (SOL) peaked below the $33.20 support level before recovering somewhat. If this rally fails, the next major support is near the $32 level. Any further losses could set the tone for a move towards the $30 level.
DOGE is gaining momentum below the $0.0632 level. There was also a move below the support at 0.0620. The next key support is near $0.0600, below which the price may gain bearish momentum. On the upside, the bears could be active near the $0.632 level.
XRP Price settled below the $0.32 support zone. It might slide further towards the support at $0.302. If the bears remain in action, there is a risk of a move below the $0.30 level.
Market of other altcoins today
Many altcoins are in the red zone, including DOT, SHIB, LEO, AVAX, UNI, LTC, FTT, LINK, CRO, NEAR, ETC, BCH, FLOW, and XTZ. Meanwhile, SNX and QNT jumped 6% and 9%, respectively, becoming the two best performers among the top 100 cryptoassets by market capitalization today. SNX broke above $2.45 and narrowed its weekly losses to nearly 13%, while QNT hit $82.50 and is now also up 40% in a week.
In summary, bitcoin price broke major support near the $20,500 level. If BTC slips below USD 19,500, it could aim for a new low in the coming days.