- Bitcoin price fell below $27,000 before recovering.
- Ethereum fell 18%, XRP plunged to $0.35.
- LUNA was trading below USD 0.04.
Bitcoin price remained in a bearish zone below the USD 30,000 support. BTC even broke the support at $27,500 and peaked below $27,000. It is currently (11:47 UTC) correcting higher near USD 28,770 but it is still down 9% in one day and 28% in one week.
Likewise, most major altcoins are down double digits. ETH dropped below $2,000 and tested $1,774. XRP pulled back 24% and tested $0.350. ADA tested $0.40 before the bulls emerged.
Total market capitalization
After a close below USD 30,000, bitcoin price gained bearish momentum and dipped below USD 27,000. The bulls are now attempting a rally wave above the USD 28,000 level. If BTC manages to stay above the $28,500 level, the next key resistance is now forming near the $30,000 level.
On the downside, the first major support is near USD 25,500. The next major support is near the $25,000 level, below which the price could extend losses to $22,000. (Learn more: Bitcoin Dominance Rises as ETH/BTC Crashes)
Ether price also started a significant decline below the USD 2,200 support. ETH settled below the $2,000 support zone and extended losses. It was down 18% and there was a strong move below USD 1,800. The price even tested the $1,770 level and is currently correcting higher near $1,940. On the upside, ETH might face resistance near the $2,000 level. The next major resistance is now forming near USD 2,050.
If there is no upside break above $2,000, the price may decline to $1,700. The next major support is near the $1,650 level.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) fell below the $0.42 support and tested the $0.40 level, before rallying back above $0.44, but the bears could defend gains above $0.50.
BNB fell 12% and is now trading near $270 after testing $225 earlier in the day. BNB is also down 33% in a week.
Solana (SOL) fell 38% in one day and traded below the $40 support. It traded near the USD 38 level before there was a wave of recovery. The price is now up and facing resistance near $45.
DOGE peaked below the $0.072 support zone, tested $0.070 and recovered higher. The price is now trading above $0.075, but there is a major hurdle near $0.080.
XRP Price fell significantly below the $0.40 level. It tested the $0.35 level and rallied back above $0.37. On the upside, the price might face resistance near $0.40.
Market of other altcoins today
Many altcoins are down more than 20%, including DOT, AVAX, SHIB, MATIC, CRO, LTC, NEAR, BCH, UNI, XLM, ALGO, VET, EGLD, FIL, and HBAR. Meanwhile, the worst performer among the top 100 cryptoassets, LUNA is down 97% in one day and fluctuates around $0.1. (Learn more: LUNA dips below USD 0.05, UST tends lower despite new bailouts)
In summary, bitcoin price is attempting a wave of recovery above the $28,000 level. However, BTC needs to get back above USD 30,000 to avoid further downsides.