Bitcoin price extended its decline below the USD 47,500 support zone. BTC tested $ 47,200 before initiating a new bullish move. It climbed above $ 48,500 but is currently (04:00 UTC) struggling to stay higher.
Similarly, most of the major altcoins are trying to rise again. ETH tested $ 2,080 and attempted a recovery wave above $ 3,200 but failed. XRP is now trading well below the $ 1.18 and $ 1.20 resistance levels. ADA tested USD 2.60 and is now consolidating losses.
Total market capitalization
After the Bitcoin price traded below $ 48,000, it extended its downward correction. BTC tested the USD 47,200 support zone where the bulls took a stand. It began an upward correction, surpassing the $ 48,000 mark. The price even surged above the $ 49,000 mark, but the bears were active near $ 49,200.
The price is now pulling back from its highs and it looks like there may be further downside moves below $ 48,000. If the bears manage to push the price below $ 47,200, it could move towards $ 46,400.
Ethereum price also found support near $ 3,080 and rebounded above $ 3,150. There was also a break above USD 3,200 but the bulls were unable to hold their strength. As a result, there was another downward move below USD 3,180.
If ETH breaks the USD 3,110 support, it could continue its decline. Then the next big support will be near the USD 3,000 mark. On the flip side, there is immediate resistance for the bulls near the USD 3,200 mark.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) is down 4% and tested the $ 2.60 level. It is now consolidating losses and it appears the bears may be targeting a test of the $ 2.50 support. Conversely, the price could rebound above the USD 2.72 resistance. The next major resistance is near the $ 2.80 level.
Litecoin (LTC) is showing bearish signs below the USD 175 and USD 180 resistance levels. On the downside, the $ 168 level is a short-term support. The first major support is near the USD 165 level, below which there is a risk of moving towards the USD 155 support zone.
Dogecoin (DOGE) tried to rebound, but the bears defended the $ 0.300 resistance. The price is now consolidating above $ 0.280. If there is a downside break below the USD 0.280, the price could accelerate down towards the USD 0.265 support. The next big support is at $ 0.250.
The XRP price is trading well below the $ 1.18 and $ 1.20 resistance levels. Immediate support is near $ 1.12. The first big support is near the USD 1.05 level, below which the bulls could potentially appear near the USD 1.00 support.
Different Altcoins Market Today
Many altcoins are down 5%, including AVAX, AUDIO, LUNA, RUNE, GRT, ATOM, SNX, SUSHI, FTM, XMR, HNT, and THETA. Conversely, the REV rebounded over 20%, beating the $ 0.012 level.
Overall, Bitcoin price is trying to rebound but is facing hurdles near $ 48,800 and $ 49,000. If BTC stays below $ 49,000, it could continue its decline.
Find the best price to buy / sell cryptocurrency: