Bitcoin and Ethereum Extend Decline, Dogecoin Rises
Bitcoin price started a downside correction from USD 44,000. BTC traded below the USD 43,200 and USD 43,000 support levels. It is currently (11:30 UTC) trading below USD 42,500 and there is a risk of further downsides.
Similarly, most major altcoins are extending losses. ETH traded below the USD 3,250 support level and tested USD 3,200. XRP is consolidating near the USD 0.750 zone. ADA is down 4% and traded below the USD 1.250 support zone.
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After a downside break below USD 43,000, bitcoin price struggled to start a fresh increase. BTC extended decline below the USD 42,500 support. It even traded below USD 42,000 and might revisit the USD 41,500 support. The next key support is near USD 41,200, below which the price could decline towards the USD 40,500 level.
On the upside, an immediate resistance is near the USD 42,500 level. The next major resistance is near USD 43,000, above which the price might start a fresh increase in the near term.
Ethereum price traded below the USD 3,250 support level. ETH is now consolidating near the USD 3,200 level. If the bears remain in action, the price might test USD 3,150. The next major support is near USD 3,100, below which the price might test USD 3,000.
On the upside, an immediate resistance is near USD 3,250. The next key resistance is near USD 3,300, above which the price might rise to USD 3,380.
Cardano (ADA) extended decline below the USD 1.265 support. It is down 4% and there was a break below the USD 1.25 support. If there are more losses, the price might test USD 1.22. On the upside, the USD 1.265 is a key hurdle.
Binance Coin (BNB) spiked above the USD 488 resistance, but it faced sellers near USD 490. The price is now correcting lower and trading below
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