- Bitcoin prices are gaining bearish momentum below US $ 35,000.
- Ethereum fell 10% to $ 2,200 and XRP tested a support zone of $ 0.55.
- Many major altcoins have declined by more than 10%.
Bitcoin prices have been unable to recover towards the $ 36,500 level and have begun a new fall below $ 34,000. Currently (UTC 12:00 PM) is down almost 6% and there is a risk of moving to the US $ 32,000 level.
Similarly, most major altcoins have declined significantly. ETH dropped by 10% and there were tests of US $ 2,200. XRP is struggling to stay above the $ 0.550 support zone. ADA could be further below $ 0.95.
After a minor upward revision, Bitcoin prices have begun a new fall below the US $ 35,000 level. BTC Bear is still active and has fallen below the $ 34,000 support level. It has fallen almost 6% and is trading near US $ 33,800. The next major support is close to $ 32,000, below which prices can plummet to $ 30,000.
Conversely, prices are facing resistance of nearly US $ 35,000. The next major resistance is close to $ 36,500, above which prices could start a decent recovery wave.
Ethereum prices have also begun to fall below the $ 2,350 support level. ETH has fallen by more than 10% and is currently approaching a support level of $ 2,200. The next major support is close to $ 2,120, below which prices can plummet to $ 2,000.
Conversely, immediate resistance is close to US $ 2,320. The next major resistance is close to $ 2,400, above which prices can rise towards the $ 2,500 level.
Prices for ADA, BNB, SOL, DOGE, and XRP
Cardano (ADA) was unable to exceed the resistance level of $ 1.10 and fell by more than 12% in one day. There was a clear move below $ 1.02 support. If there is a closing price below $ 1.00, the price may even plummet towards support at $ 0.90.
Binance Coin (BNB) is moving below the support level of US $ 350. The next major support is close to $ 320, below which bears may test the $ 300 level. With upward revisions, bears could remain active near $ 365 or $ 380.
Solana (SOL) fell well below US $ 100 after falling 18% in one day. We are currently approaching a support level of $ 82. The next major support is close to the $ 75 level, below which bears can aim for a $ 66 test.
DOGE traded below the major USD 0.135 support level, down 7% in a single day. We are currently heading towards a support level of $ 0.120. Further downsides could start moving towards the $ 0.100 level in future sessions.
The price of XRP is struggling to stay above the $ 0.55 support. The next major support is near USD 0.500, below which there is a risk of moving to USD 0.420. Conversely, prices can face a hurdle close to $ 0.65.
Other altcoin markets today
Many altcoins such as LUNA, DOT, AVAX, SHIB, MATIC, LTC, LINK, UNI, NEAR, ALGO, TRX, FTM, FTT, XLM, ICP, HBAR have decreased by more than 8%. On the other hand, CEL decreased by 20% and NEAR decreased by 18%.
In summary, Bitcoin prices are accelerating below the US $ 35,000 level. If BTC bears are active, prices could soon test to the $ 30,000 level in the short term.