- Bitcoin price is testing 29,000 USD.
- Ethereum is fluctuating near $1,900, XRP briefly broke below the $0.40 support.
- ADA and SOL are down more than 7%, AXS outperforms.
Bitcoin price failed to initiate another rise, extended the decline below $29,000 and even tested the $28,550 support zone before rallying. It is currently (04:05 UTC) consolidating its losses at nearly $29,200 and is down 2% in a day and up 1% in a week.
Likewise, most major altcoins are back in the red zone. ETH dropped below the $1,950 support and tested $1,900 before recovering. XRP extended the decline and briefly peaked below the $0.40 support. ADA tested the support at $0.50.
Total market capitalization
After a close below USD 30,000, bitcoin price remained in a bearish zone. BTC extended the decline below the $29,200 support area and even tested the $28,500 area. The price is now consolidating above the USD 29,000 level. An immediate support is near the USD 28,550 level. The next major support is near the $27,800 level, below which the price might even test $27,200.
On the upside, an initial resistance is seen near the $29,500 area. The next key resistance is now forming near the $30,000 and $30,500 levels.
Ether price also extended the decline below the $2,000 support zone. There was a clear move below the $1,950 and $1,920 support levels. It even tested the support at USD 1,900 before returning towards USD 1,950. The next major support is near the $1880 level, below which the price may drop to $1840. ETH is down 4% in one day and 6% in one week.
On the upside, an immediate resistance is near the $1,980 level. The key resistance is near $2000, above which the price might start a decent rise.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) fell over 7% and there was a clear move below the $0.52 support. The price even spiked below $0.50 before recovering. If there is a close below $0.50, the price might extend the losses.
BNB settled below the USD 300 level. It even tested the $288 level before moving back above $295. A close below $288 could open the doors for a move towards the $265 level.
Solana (SOL) is down 8% as it briefly traded below the $50 level before recovering. The next key support is near the $46 level. A break down below $46 could send the price towards the $42 level.
DOGE traded below the $0.085 support level and even tested the $0.0820 level before rallying. The next major support is $0.0800, below which there is a risk of falling towards the $0.075 level.
XRP Price declined by 4% and even peaked below the $0.40 level before recovering. A close below the $0.40 level could trigger a steeper decline. In this case, the price might drop towards the $0.35 level.
Market of other altcoins today
Many altcoins are down more than 5%, including DOT, AVAX, SHIB, MATIC, CRO, LTC, NEAR, BCH, UNI, LINK, XLM, ALGO, ATOM, and FLOW. Meanwhile, AXS is up over 4% as it broke above the $21 level and increased its weekly gains to almost 12%.
Overall, bitcoin price is showing bearish signs below the $29,550 level. If BTC slips below the $28,550 level, there is a risk of movement towards the $27,200 level.