Bitcoin Drops Below USD 36K, Ethereum Down 9%, Altcoins Keep Sliding
Bitcoin price started a strong decline below the USD 40,000 resistance zone and settled below the USD 37,500 level to move into a bearish zone. It is currently (11:49 UTC) down almost 10% and is trading near USD 35,800.
Similarly, most major altcoins are gaining bearish momentum. ETH broke the USD 2,700 level and might slide below USD 2,620. XRP is showing bearish signs below the USD 0.60 level. ADA might extend losses and test the USD 0.75 support.
Total market capitalization
After a strong decline, bitcoin price settled below the USD 37,500 support. BTC even traded below the USD 36,200 support and tested USD 35,500. The next major support is near USD 35,000, below which the price might accelerate lower. In this case, the price may perhaps decline towards the USD 33,200 level.
On the upside, an immediate resistance is near the USD 36,500 level. The next key resistance is now forming near the USD 37,000 level, above which the bulls might attempt a move above USD 37,500.
Ethereum price also followed a similar pattern and declined sharply below the USD 2,750 level. ETH even traded below USD 2,700 and might test the USD 2,620 level. The next major support is near the USD 2,600 level, below which the price might test USD 2,550.
On the upside, the bulls may possibly face resistance near the USD 2,750 level. The next major hurdle is near the USD 2,800 level, where the bears might take a stand.
Cardano (ADA) declined almost 10% and there was a close below the USD 0.80 level. The next major support is near the USD 0.75 level. Any more losses may perhaps open the doors for a drop towards the USD 0.72 level.
BNB is consolidating above the USD 372 level. The next major support is near USD 365. If there is an upside correction, the USD
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