Bitcoin price failed to stay above the USD 47,200 support zone, prolonging its decline and testing the USD 46,500 zone. It is currently trading in the red (04:00 UTC) and could move further down around $ 46,000.
Likewise, most of the major altcoins are moving down. ETH is trading well below $ 3,150 and could test $ 3,000. XRP tested the $ 1.05 support before entering a period of consolidation. ADA continued to decline, even climbing below the $ 2.50 support.
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Bitcoin price prolonged its decline after closing below $ 48,000. BTC broke the USD 47,200 and USD 47,000 levels. It even tested $ 46,500. The next major support is near the USD 46,000 mark. Other drawbacks could potentially open the doors to move towards the $ 45,000 level.
On the flip side, there is immediate resistance near the $ 47,200 level. The first major resistance is near the $ 47,800 level, followed by $ 48,000. The main resistance is at $ 48,500, above which the price could steadily rebound.
Ethereum price broke the USD 3,110 support and extended its decline. ETH tested $ 3,050 and remains at risk of further losses. Then the next big support will be near the USD 3,000 mark. A break below the $ 3,000 level could move the price towards the $ 2,880 level.
On an upward correction, there is immediate resistance near the $ 3,150 mark. The main breakout resistance is now forming near the USD 3,200 mark.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) is down 4% to break the USD 2.60 support zone. ADA even climbed below $ 2.50 and is struggling to recover. If there is a close below $ 2.50, the price could continue falling towards the $ 2.20 support zone. Conversely, the price could recover to USD 2.65. The next major resistance is near the $ 2.72 level.
Litecoin (LTC) settled below $ 170 and appears to be struggling to stay above the $ 165 support. If the bears break above $ 165, they could aim for a test of the $ 155 level. The next big support is at $ 150. On the flip side, the bulls could face hurdles near $ 172.
Dogecoin (DOGE) is now trading well below the $ 0.280 pivot level. The next big support is at $ 0.250, below which there is a risk of a larger decline. If there is a recovery wave, the price could encounter selling interest near the $ 0.280 level.
The XRP price has settled below the USD 1.12 support level. It even tested the USD 1.05 support. If the bears remain active, it could see a decline towards the USD 1.00 support. On the downside, the previous support near USD 1.15 could act as resistance.
Different Altcoins Market Today
Many altcoins are down 8%, including NEAR, FTM, DASH, ZIL, ZEC, HNT, XTZ, DGB, KCS, ONE, NEO, AUDIO, SC, RVN and MIOTA. Of these, NEAR and FTM have fallen by over 12%.
Overall, the Bitcoin price is slowly hovering below $ 47,000. In fact, if BTC breaks $ 46,500, it might be difficult to stay above the $ 46,000 level.
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