Bitcoin, Ethereum, and Altcoins Extend Decline
Bitcoin price failed to recover and extended decline below USD 45,000. BTC even broke the USD 44,000 and USD 43,500 levels. It is currently (12:26 PM UTC) down 7% and is trading near USD 42,800.
Similarly, most major altcoins declined heavily. ETH traded below the USD 3,550 and USD 3,400 support levels. XRP even spiked below the USD 0.750 level. ADA is struggling to stay above the USD 1.20 level.(Learn more: Selloff in Crypto Triggered by Hawkish Fed as Tech Stocks Drop Too)
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After a bearish reaction, bitcoin price failed to stay above the USD 45,000 level. BTC traded below the USD 44,500 and USD 44,000 levels. It even spiked towards the USD 42,500 level. The next key support is near USD 42,000, below which the price could even test USD 40,000.
On the upside, an initial resistance is near the USD 43,800 level. The first major resistance is near USD 44,000, above which the price might test USD 45,000.
Ethereum price declined almost 12% and there was a strong move below the USD 3,500 level. ETH even broke the USD 3,350 level and tested USD 3,300. The next key support is near USD 3,250, below which the price could test USD 3,120.
An immediate resistance is near the USD 3,450 level. The next key resistance is near USD 3,500, above which the price might attempt a decent recovery wave.
Cardano (ADA) is down over 9% and there was a clear break below the USD 1.22 level. The price is now struggling to stay above the USD 1.20 level. If there is a close below USD 1.20, the price might decline towards the USD 1.12 level.
Binance coin (BNB) is down almost 10% and there was a break below the USD 465 support level. It even tested the USD 455 support level. The key support is USD 450, below which there is a risk of a
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