- Bitcoin price is showing signs of bearish below $ 48,500.
- Ethereum settled below $ 3,850, XRP could test $ 0.82.
- ICX and WAVE are down over 12%.
Bitcoin price was unable to rebound above the $ 48,500 level. BTC extended the decline below the USD 48,000 support. It is currently trading below $ 40,000 (11:30 UTC) and could continue to decline towards $ 46,500.
Likewise, most of the major altcoins are trading in a bearish zone. ETH fell below $ 3,800 and the next major support is near $ 3,720. XRP can extend losses and test $ 0.82. ADA is struggling to stay above the USD 1.40 level.
Total market capitalization
Source: www.tradingview.com
Bitcoin price
After breaking down below USD 48,500, Bitcoin price was unable to initiate a proper recovery. BTC remained in a bearish zone, trading below $ 48,000. It is struggling to stay above $ 47,200. If there is a clear break on the downside, the bears could target $ 46,500. The next big support is near the $ 45,500 level.
On the downside, the price may encounter resistance near the $ 48,500 mark. The next resistance is near the $ 48,800 zone, above which the bulls could aim for a steady rise.
Ethereum price
Ethereum price also extended the decline below the USD 3,800 support zone. It seems like the bears are in control and ETH may dip towards $ 3,720. The next major support is near the $ 3,650 level below which the price could test $ 3,550.
On the downside, the price could encounter selling interest near $ 3,850. The next major resistance is near the USD 3,880 level, above which the price could initiate a decent rebound.
ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) is down 6% to trade below the $ 1.42 support level. It is now struggling to stay above $ 1.40. In the event of a downward break, the price could move towards USD 1.35 in the short term.
Binance Coin (BNB) is approaching the USD 532 support level. The next big support is near the $ 525 level, below which the price could drop sharply. On the flip side, the bears could remain active near the USD 540 level.
Solana (SOL) was down 8% and there was a significant move below the $ 180 mark. It is now trading at $ 175 with the main support at $ 172. The next big support is near the USD 165 mark. Further losses could push the price to the $ 155 level.
DOGE is down 5% testing the USD 0.172 support zone. A break below $ 0.172 could put the bulls under heavy pressure. In that case, the price could drop towards $ 0.155.
The XRP price was down 5% and there was a significant move below the $ 0.85 level. The next big support is near the $ 0.820 level, below which the price could test $ 0.80. If not, it could rebound to $ 0.880.
Different Altcoins Market Today
Many altcoins are down over 6%, including ICX, AAVE, STX, ATOM, BAT, AUDIO, RVN, XTZ, AVAX, and 1INCH. Of those, ICX lost 15% and traded below the $ 1.55 level.
In conclusion, Bitcoin price is showing bearish signs below the $ 48,500 level. If BTC extends the decline, it risks spike to $ 45,500.
_____
Find the best price to buy / sell cryptocurrency:
Comments are closed.