Bitcoin and Ethereum Gain Bearish Momentum, Altcoins Slide
Bitcoin price started another decline below the USD 23,500 support zone and moved below the USD 23,000 level. It is currently (04:03 UTC) trading near USD 22,900 and is down over 4% in a day and almost 1% in a week.
Similarly, most major altcoins are gaining bearish momentum. ETH is down 6% and trading below the USD 1,700 level. XRP could continue to move down towards the USD 0.35 support. ADA might decline below the USD 0.50 level.
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After a downside break below the USD 23,200 level, bitcoin price gained bearish momentum and traded below the USD 23,000 level. On the downside, an immediate support is at USD 22,650. The next major support is near the USD 22,500 zone, below which the price could accelerate lower. In this case, the price could dive towards the USD 21,500 level.
On the upside, an initial resistance is near the USD 23,200 level. The next main resistance is now forming near the USD 23,500 level, above which the bulls could gain bullish momentum.
Ethereum price started another decline below the USD 1,720 support and neared USD 1,670. ETH is down 6% in a day and up 2% in a week. On the downside, an initial support is near the USD 1,650 level. The next major support is near the USD 1,625 zone, below which the price could drop towards the USD 1,550 level.
An immediate resistance is near the USD 1,700 level. The next key resistance is near the USD 1,720 level, above which the price might rise to USD 1,800.
Cardano (ADA) is gaining bearish momentum below the USD 0.520 level. The price dropped 5% in a day and is now approaching the USD 0.50 level, below which the bears might aim for a move towards the USD 0.48 level in the near term.
BNB traded below the USD 320 support level. The next major
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