- Bitcoin price struggled to overcome the resistance at $23,500.
- Ethereum fell below $1620, XRP failed to reach $0.388.
- Among the top 25 coins, only the BNB is still in the green.
Bitcoin price attempted an upside break above the $23,500 resistance zone. BTC struggled to gain momentum and fell below USD 23,000. It is currently trading (11:40 UTC) at nearly $22,900 and is down more than 2% in a day and unchanged in a week.
Likewise, most major altcoins are also falling. ETH failed to clear the resistance at $1,680 and corrected lower. XRP is in trouble and could drop to $0.355. ADA could take a hit if it breaks the support at $0.50.
Total market capitalization
After a failed attempt to clear $23,500, bitcoin price reacted downward. BTC declined and traded below the $23,000 support. An immediate support is near the USD 22,500 level. The next major support is near the $22,250 area, below which the price could test $21,500.
On the upside, there is an initial resistance near the $23,200 level. The main hurdle is still near $23,500, above which the price may accelerate.
Ether price made some attempts to break through the $1,680 resistance zone. However, the bulls struggled and ETH broke below the $1620 level. ETH is down almost 3% in one day and 1% in one week. The next major support is near the $1550 area, below which the price may decline more sharply.
On the upside, the bears could remain active near USD 1,650. The next key resistance is near the $1,680 level, above which ETH might begin a stronger rise.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) cuts its gains and struggles to stay above the $0.50 level. A clear move below $0.50 can trigger a move towards the support at $0.485 or even $0.462.
BNB peaked above the USD 305 level before the bears emerged. The price is now dropping and trading near $300. BNB is still up almost 4% in one day. If the bears remain in action, the price could drop towards the support at $288.
Solana (SOL) failed to break above the $40 resistance. It is moving lower towards the USD 38 support. If there are more losses, perhaps the price could drop towards the support at $36.20.
DOGE failed to strengthen and remained below the $0.0680 resistance zone. It is now moving towards the $0.065 support zone, below which the price could gain bearish momentum.
XRP Price failed to stay above the $0.372 level. The next major support is near $0.362, below which the price might test $0.355. The main support is located at 0.35 USD.
Market of other altcoins today
A few altcoins are showing bearish signs, including MATIC, UNI, ETC, CRO, ICP, FLOW, MKR, CRV, SNX, and NEXO. Meanwhile, LDO is the top performer among the top 100 coins, as it jumped 8% in one day and surpassed $2.55, increasing its weekly gains to 31%.
In summary, bitcoin price failed to clear the $23,500 resistance zone. If BTC fails to stay above $22,500, there could be another round of selling.