Bitcoin price remains in a bearish zone below the $ 32,500 resistance. BTC is currently (04:34 UTC) showing bearish signs and could even continue below $ 31,000. The main breakout support is still near the $ 30,000 level.
Likewise, most of the major altcoins are moving down. ETH is now trading well below $ 2,000 and could even trade below $ 1,800. XRP is also trading in the red zone below the pivot zone of $ 0.60.
Total market capitalization
After a close below $ 32,500, the price of bitcoin remained in the bearish zone. BTC even settled below the $ 32,000 support level to move further into a bearish zone. An immediate support is near the $ 31,000 level. A close below the $ 31,000 support could set the pace for a further decline. In this case, the price may even drop below $ 30,000.
An immediate resistance on the upside is near the $ 32,000 level. The main weekly resistance is now forming near the $ 33,000 level, above which the price could accelerate further.
Ethereum price failed to stay above the $ 2,000 and $ 1,980 support levels. ETH declined below $ 1,920 and could continue to move lower below $ 1,880. The next key support is near the $ 1,840 level, below which the price could decline towards the $ 1,750 level.
If there is a further surge, the price could face resistance near $ 1,980. The main weekly resistance is now forming near the $ 2,000 and $ 2,050 levels.
ADA, LTC, DOGE and XRP price
Cardano (ADA) broke the key support zone of $ 1.20. ADA is accelerating losses and could even trade below $ 0.170. The next major support is near the $ 1,150 level, below which the price could fall towards the $ 1.10 level in the near term.
Litecoin (LTC) traded below $ 120 to move into a bearish zone. LTC could drop below the $ 115 support level and continue to the downside. In the aforementioned scenario, the bears could target a test of $ 105 and $ 100.
Dogecoin (DOGE) traded below the $ 0.200 support level. DOGE is showing bearish signs and is now trading below $ 0.180. It looks like the price could even trade below $ 0.165. The next major weekly support is near $ 0.150, where the bulls could take a position.
XRP price broke the $ 0.600 support level to enter a bearish zone. The current price action suggests possibilities for more downside below $ 0.580. The next key support is near $ 0.550. Any other loss could trigger a move towards the $ 0.500 level.
Another altcoin market today
Many altcoins were down more than 5%, including AXS, RUNE, STX, SUSHI, FLOW, RVN, SNX, MANA, CHSB, HBAR, and AVAX. Of these, AXS fell more than 15% and even traded below $ 17.50. Meanwhile, XEM and KLAY increased between 5% and 6%.
Overall, the bitcoin price is showing bearish signs below $ 32,500 and $ 32,000. If BTC doesn’t hold above $ 31,000 and $ 30,000, there could be a sharp decline in the short term.
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