Bitcoin Price and Ethereum Bleed, Altcoins Takes Hit
- Bitcoin price declined over 6% and traded below $19,000.
- Ethereum declined over 10% and traded below $1,320, XRP traded below $0.35.
- ETC, EOS, and RVN are down over 15%.
Bitcoin price failed to stay above the key $19,500 support zone. BTC is currently (03:30 UTC) down over 6% and trading below $19,000. It seems like ether’s price decline is dragging bitcoin lower and might push it towards $18,000 or $17,800.
Similarly, most major altcoins are gaining bearish momentum. ETH started a major decline and traded below the $1,320 support. XRP is moving lower towards the $0.335 support. ADA might revisit the $0.42 support zone.
After a bearish reaction below the $19,500 support, bitcoin price started a major decline. BTC declined over 6% and there was a clear move below the $19,000 level. The price is now moving lower towards the $18,500 support zone. The next major support is near the $18,200 zone, below which the price could even test the $18,000 support zone.
On the upside, the price is facing resistance near $19,000. The next major resistance is now near the $19,350 level and a connecting bearish trend line on the hourly chart, above which the price might test the 50-hour simple moving average.
Ethereum price struggled to clear the $1,480 and $1,500 resistance levels. ETH declined heavily below the $1,400 level and the 50-hour simple moving average. It even broke the $1,320 level and tested the $1,280 support. The next major support is $1,250, below which price could revisit $1,200.
On the upside, an immediate resistance is near the $1,325 level. The next major resistance is now forming near the $1,350 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to clear the $0.50 resistance zone. It reacted to the downside and traded below $0.450. Any more losses might send the price towards the $0.42 support.
BNB is down over 5% and there was a move below the $265 support zone. The next major support sits at $250, below which there is a risk of a move towards the $232 level in the near term.
Solana (SOL) is again moving lower towards the $30.00 support. If the bears remain in action, the price could even test the $28.50 level. Conversely, it might rise and test the $32.50 resistance.
DOGE traded below the key $0.060 support level. It is now down over 7% and the next major support is near the $0.0550 level. Any more losses might send the price towards the $0.0535 level in the coming sessions.
XRP price is moving lower towards the $0.335 support zone. If the bulls fail to protect the $0.335 support zone, there is a risk of a move towards the $0.320 level.
Other altcoins market today
Many altcoins are down over 12%, including ETC, EOS, RVN, CRV, CEL, KSM, LDO, WAVES, AR, SNX, NEAR, and FLOW. Conversely, CHZ is up over 5% and showing positive signs above the $0.23 level.
Overall, bitcoin price is gaining bearish momentum below the $19,000 level. If BTC slides further, there is a risk of a move towards the $17,800 level in the short-term.
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