Bitcoin price failed to overcome selling pressure and it remained well below USD 35,000. As a result, BTC saw a fresh decline below the USD 33,500 support. It is currently (04:25 UTC) showing a few bearish signs, but the USD 32,200 support holds the key.
Similarly, most major altcoins are slowly gaining bearish momentum. ETH declined below USD 2,100 and it is now struggling to stay above USD 2,000. XRP could decline further if there is a close below USD 0.600.
Bitcoin’s price began a new drop after failing to break through USD 35,000 yet again. Bitcoin was trading below the USD 33,500 and USD 33,200 support levels. It even tested USD 32,650 before correcting lower. Near the USD 33,500 level, there is instant resistance. The first important obstacle is near USD 34,000, above which the bulls may seek to break through USD 35,000.
On the downside, an initial support level is near USD 32,600. The key support is near USD 32,200, below which the price may fall precipitously.
The price of Ethereum followed a similar pattern, falling below the USD 2,050 support level. ETH fell below USD 2,000 and is now consolidating losses. The first point of resistance is at USD 2,080. Near the USD 2,120 mark, the first substantial barrier is currently emerging.
The main support level for a collapse is close to USD 2,000. A closure below this level could result in a significant drop in the future sessions.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is down 4% and has hit the USD 1.30 support level. If the bears keep pushing, the price could fall to USD 1.25. Any further losses could lead to a dip towards the USD 1.20 support zone. The USD 1.35 level is a crucial resistance level on the upswing.
Litecoin (LTC) has managed to maintain its price over USD 130. The next big support level is still around USD 125. On the upside, the price is being held back by a solid resistance near USD 140. The primary resistance level for a breakout is still around USD 150.
Dogecoin (DOGE) is down 5% and has almost reached USD 0.200. If the daily close falls below USD 0.200, there could be a significant drop in the future sessions. The price may challenge USD 0.165 if it falls below USD 0.180 as the next significant support.
The price of XRP is falling, and it has even traded below USD 0.620. The main support for a breakdown is near USD 0.600. A close below USD 0.600 might precipitate a further collapse, and the price could fall as low as USD 0.520.