Bitcoin and Ethereum at Risk of More Losses, Altcoins May Extend Declines

cryptonews.com:

Bitcoin price recovered above the USD 28,500 zone. BTC attempted an upside break but struggled above USD 29,000. It is currently (11:50 UTC) struggling and might continue to move down towards the USD 27,500 level.

Besides, most major altcoins are showing bearish signs. ETH settled below USD 1,800 and might test USD 1,700. XRP could recover if it clears USD 0.40. ADA is consolidating above the USD 0.45 support.

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After a sharp decline, the bitcoin price found support near the USD 27,500 zone. BTC started a recovery wave and climbed above the USD 28,500 level. The price even climbed above USD 28,800, but it struggled to gather pace above USD 29,000. The next key resistance is near USD 29,200 and USD 29,500. A clear move above the USD 29,500 level might start a decent increase.

If not, there are chances of a fresh move below the USD 28,000 level. In the stated case, the price could retest the USD 27,500 support zone.

The Ethereum price remained in a bearish zone below the USD 1,850 level. ETH settled below the USD 1,800 level and might continue to move down. The next major support is near USD 1,720, below which the price may perhaps decline towards the USD 1,720 level.

On the upside, an immediate resistance is near the USD 1,820 level. The next major resistance is near USD 1,850, above which the price could rise steadily.

Cardano (ADA) extended decline below the USD 0.465 support. It is now trading around that level but potentially approaching the USD 0.45 support zone. Any more losses could set the pace for a move towards the USD 0.42 level.

BNB traded around the USD 300 support level. If the bears remain in action, the price could decline toward the USD 288 level. The next major support is near the USD