Bitcoin, Ethereum and Major Altcoins Still Ruled By Bears
Bitcoin price failed to stay above the USD 32,200 support zone. BTC extended its decline and it even traded below USD 31,550. It tested the USD 31,150 level and it is currently (04:24 UTC) attempting an upside correction.
Similarly, most major altcoins are trading in the red zone. ETH settled below USD 2,000, but the bulls are protecting USD 1,880. XRP could decline further if there is a close below USD 0.600.
Total market capitalization
After struggling above USD 32,500, bitcoin price started another decline. BTC declined below the last swing low at USD 31,550. However, downsides were limited and the price stayed above USD 31,150. It is now correcting higher and trading around USD 32,000. An immediate resistance is near the USD 32,200 level. The main resistance is still near the USD 33,000 level, above which the price might gain bullish momentum.
On the downside, an initial support is near the USD 31,500 level. The first key support is near USD 31,150, below which the bears might aim for a test of USD 30,000.
Ethereum price resumed its decline below the USD 2,000 support. ETH even traded below USD 1,920, but the bulls protected USD 1,880. The price is now moving higher above USD 1,950. However, the bulls might face a strong selling interest near the USD 2,000 level.
If the price fails to continue higher, there could be another decline below USD 1,900. The key support is near USD 1,880 and USD 1,865, below which the price might test USD 1,800.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is holding ground above the USD 1.22 level. An immediate resistance on the upside is near the USD 1.25 level. A close above the USD 1.25 level could start a decent increase. The next major resistance is near the USD 1.30 level, where the bears might take a stand.
Litecoin (LTC) managed to stay above the USD 125 support level. LTC could recover above USD 130, but it might face a strong resistance near the USD 132 level. A proper close above the USD 132 level may possibly spark a steady increase.
Dogecoin (DOGE) is extending losses and it may soon break the USD 0.188 support zone. If there is a downside break below USD 0.188 and USD 0.180, the price could test USD 0.165. The next major support is seen near the USD 0.150 level.
XRP price is consolidating above the USD 0.600 level. An initial resistance is near the USD 0.632 level. The first key resistance is near the USD 0.650 level. Conversely, there might be a downside break below the USD 0.600 zone.
Other altcoins market today
A few altcoins gained over 5%, including XEM, BAKE, KSM, XLM, STX, BNB, and MKR. Conversely, TEL, RUNE, ENJ, MANA, FTT, CRO and HNT are down over 5%.
Overall, bitcoin price is attempting an upside correction above USD 32,200. However, BTC must settle above USD 32,500 and USD 33,000 to continue higher in the near term.