Bitcoin and Ethereum Erase Weekly Gains, Altcoins Increase Losses

cryptonews.com:

Bitcoin price extended losses below the USD 22,500 level and declined below USD 21,500. It is currently (03:58 UTC) trading just below USD 21,200 and is down over 3% in a day and 5% in a week.

Similarly, most major altcoins are moving lower. ETH traded below the USD 1,450 support level. XRP might soon revisit the USD 0.32 support. ADA tested the USD 0.465 support.

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After facing rejection, bitcoin price extended losses below the USD 22,000 support and almost tested USD 21,000 before moving higher. On the downside, an initial support is near the USD 20,850 level. The next major support is near the USD 20,500 zone, below which the price could test USD 20,000.

On the upside, an immediate resistance is near the USD 21,500 level. The next major resistance could be USD 22,000, above which the price could start a steady increase.

Ethereum price also accelerated lower after it broke the USD 1,500 support zone and is now consolidating near the USD 1,435 level. ETH is down over 5% in a day and almost 9% in a week. The next major support is near USD 1,365, below which the price might retest the USD 1,320 support zone.

On the upside, the price could face sellers near USD 1,450. The main breakout resistance is now forming near the USD 1,500 level, above which the price could start another increase. 

Cardano (ADA) gained bearish momentum below the USD 0.50 level. It is down almost 5% and trading above USD 0.470. The next major support is near the USD 0.45 level, below which there might be a sharper decline.

BNB declined below the USD 250 support zone and even traded below the USD 242 level before recovering to USD 244. If the bears remain in action, there is a risk of a move towards the USD 235 level.

Solana (SOL)