From a high of almost USD 38,000, the price of bitcoin began a new downward trend. BTC fell below USD 35,000 after breaking the USD 36,500 support. After an unsuccessful attempt to rise higher, it is currently (04:41 UTC) extending losses.
Similarly, the majority of prominent altcoins are in a bearish zone. ETH tested the USD 2,050 area after breaking the USD 2,250 support. ETH tested the USD 2,050 area after breaking the USD 2,250 support. XRP/USD could not maintain its position above USD 0.800, and it even tried USD 0.700.
Bitcoin’s value
Bitcoin’s price was rejected once more near the USD 38,000 resistance level. BTC began a new drop, breaking multiple supports near the USD 36,500 support level. Bears even managed to knock the price below the USD 35,000 support level. The price tested the USD 33,350 zone with a negative aspect and is presently trading above USD 34,000. The price has dropped 5% in a single day, and in a week, it has fallen 13%.
On the upside, the USD 35,000 level serves as immediate resistance. The primary weekly resistance is presently building near USD 36,500, and if it is broken, the price could return to the USD 38,000 area.
THE COST OF ETHEREUM
The price of Ethereum followed a similar pattern, trading below the USD 2,400 support level. ETH dropped precipitously, trading as low as USD 2,250. The price dropped to USD 2,050 and is presently trying to rebound.
In a single day, ETH lost 5.5 percent, and in a week, it lost 17 percent.
Near the USD 2,180 mark, there is some initial resistance. The enormous resistance is currently building near USD 2,250, above which the price could return to the USD 2,400 zone.
Binance Coin
(BNB) fell sharply below the USD 350 support level, as did LTC, DOGE, and XRP. BNB fell below the USD 325 support level. Near the USD 310 level, there is some initial support. The crucial support level is USD 300, below which a break towards the USD 280 support zone is possible. On the upside, the USD 350 level could be a stumbling block.
The price of Litecoin (LTC) has continued to fall below USD 155 and USD 150. The price fell to USD 142, and it may drop further to USD 135 in the coming days. Bears may be active near the USD 158 and USD 165 levels on the upside
Dogecoin (DOGE) is now trading below USD 0.300. The price has been trading near USD 0.250 and is currently consolidating losses. There is a chance of a dip towards the USD 0.232 level if there are further downsides. On the upside, bulls may run into resistance at USD 0.285 and USD 0.300.
The price of XRP has started to fall sharply below the USD 0.800 support level. It even touched USD 0.700 after breaking over the USD 0.750 mark. The bears may challenge the USD 0.650 support zone if there is no recovery above USD 0.750.
Today’s market for other altcoins
KLAY, STX, CHZ, ZEN, BTG, XEM, AMP, ICP, SC, STT, KCS, QTUM, SOL, and EGLD are among the cryptocurrencies that have dropped more than 5%. STX is down more than 14 percent and is trading below USD 0.72.
Overall, bitcoin’s price is falling below the USD 36,500 and USD 35,000 support levels, indicating a negative trend. There is a possibility of BTC falling below USD 36,500 if it does not recover above USD 36,500.
