- Bitcoin price is trading below $21,000.
- Ethereum Struggles Below $1,200, XRP Down Over 5%
- XTZ and CHZ are the best performers today.
Bitcoin price failed to trade above $21,500 and below $21,000. It is currently trading at $20,700, trading up over 2% flat in one day and almost flat for a week.
Similarly, most of the major altcoins are also trending down. ETH traded below the USD 1,200 support area. XRP struggled and fell below $0.350 while ADA tested $0.48.
total market capitalization
After struggling to stay above $21,200, bitcoin price started falling again and tested the $20,500 support area. On the downside, the next support is near USD 20,200. Another key support is near the $20,000 level. Further losses could pave the way for a larger move down towards $18,800.
On the upside, the price is facing resistance at $21,000. The next major resistance is now near the $21,200 level, above which the price could revisit the $21,800 area.
Price of Ethereum
Ethereum price also started another decline above the $1,250 resistance area. ETH broke the $1,200 support area and is down more than 3% in a day but is still up around 5% in a week. On the downside, there is initial support at $1,150. The next major support is USD 1,120, below which the price could drop towards USD 1,000.
On the upside, bears are likely to remain active near $1,220. The next major resistance is at USD 1,250, above which the price is likely to move towards USD 1,320.
ADA, BNB, SOL, Doge and XRP price
Cardano (ADA) is now trading below the $0.50 resistance level. It traded below the $0.48 level before the price returned to this level. It looks like ADA may continue falling towards the $0.45 support level.
Binance Coin (BNB) is currently consolidating near the USD 232 support area. If the price falls below $230, it could potentially slide towards the $220 support area.
Solana (SOL) is down 6% and the USD is trading below 40. The first major support is $36.20, below it the price might even test $35.
DOGE scaled above the $0.0750 resistance area but remained below the $0.080 level. DOGE started a downside correction and traded below the USD 0.0700 level before recovering from this level. The next major support is near the USD 0.065 level.
XRP price traded below the $0.35 support level. If there are more losses, the price could drop to $0.32. Conversely, it might rise and test the $0.365 resistance area.
Markets for other altcoins today
Several altcoins including DOT, SHIB, AVAX, MATIC, LTC, UNI, LINK, XLM, NEAR, ETC, XMR, and BCH are down over 5%. Of these, MATIC is down 9% and it is trading near the $0.52 support area. Meanwhile, XTZ is up 8% to $1.6, while CHZ is up 16% to over $0.118, making them the top two performers among the top 100 cryptocurrencies by market cap today. XTZ and CHZ are up 11% and 25%, respectively, in a week.
Overall, the price of bitcoin has fallen below $21,000. If BTC fails to stay above $20,000, there is a risk of further downside in the near term.
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