Bitcoin Drops Below USD 33K, Ethereum Slides More, Altcoins Tumble
Bitcoin price extended its decline below the USD 35,000 support and dropped below USD 33,000. It is currently (11:45 UTC) trading near USD 32,900 and is down over 5% in a day and almost 15% in a week.
Similarly, most major altcoins extended their decrease. ETH moved below USD 2,400 and is down over 7% in a day and almost 16% in a week. XRP settled below USD 0.55 and might test USD 0.52. ADA is down 11% and is approaching the USD 0.65 support.
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In the past few sessions, bitcoin price saw a major decline below USD 36,500. It is now moving lower and remains at a risk of more losses below USD 33,000. The next major support is near USD 32,500, below which the price might even test USD 32,000.
On the upside, an immediate resistance is near the USD 33,800 level. The next key resistance is now forming near the USD 34,500 level, above which it could test USD 35,500.
Ethereum price also followed a similar pattern and extended decline below USD 2,500. ETH even traded below USD 2,400. The next major support is near the USD 2,350 level, below which the price might slide toward the USD 2,280 level.
On the upside, the price might face resistance near the USD 2,480 level. The first major resistance is now forming near the USD 2,500 level.
Cardano (ADA) is accelerating losses below the USD 0.70 level. The price is down 11% and might even test the USD 0.65 level. Any more losses might send the price towards the USD 0.62 level.
BNB is now trading well below the key USD 350 support level and is testing the USD 330 support. If the bears remain in action, there is a risk of a move towards the USD 320 level.
Solana (SOL) gained bearish momentum below the USD 80 level and is down almost 10% in a day. It is now approaching the
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