Bitcoin and Ethereum Struggle to Recover, BNB and SOL Dive
Bitcoin price declined below the USD 30,000 support zone and even spiked below the USD 29,500 level before recovering. It is currently (11:36 UTC) consolidating losses above USD 29,500 and is down 6% in a day and 7% in a week.
Similarly, most major altcoins might extend losses. ETH could decline further if it trades below USD 1,720. XRP settled below the key USD 0.40 pivot level. ADA is down over 7% and is trading below USD 0.592.
Total market capitalization
After a sharp bearish wave, bitcoin price settled below the USD 30,000 pivot level. BTC even spiked below USD 29,500 before it started a consolidation phase. The price is now showing bearish signs and remains at a risk of more losses below the USD 29,000 support. The next major support is near the USD 28,500 zone, below which the price could extend its losses.
On the upside, an initial resistance is near the USD 30,000 level. The next key resistance is near USD 30,500, above which the price could start a stronger increase.
Ethereum price also declined sharply below the USD 1,850 and USD 1,800 support levels. ETH settled below USD 1,800, but it is holding the USD 1,720 support level. ETH is down 8% in a day and almost 12% in a week. The next major support is near USD 1,700, below which the price might even test the USD 1,650 support zone.
On the upside, an immediate hurdle for the bulls is near the USD 1,800 zone. The next key resistance is at USD 1,850, above which the price might start a recovery wave.
Cardano (ADA) declined 7% and settled below the USD 0.60 level. It even tested the USD 0.580 support. If the bears remain in action, there is a risk of a move towards the USD 0.565 level.
BNB gained pace for a move below the USD 300 support. It even broke the USD 285 support
Read more on cryptonews.com
