Bitcoin Tests USD 20K, Ethereum Slides, Altcoins in Red
Bitcoin price remained in a bearish zone below the USD 20,500 level and declined below the USD 20,000 support zone. It is currently (04:03 UTC) consolidating near USD 19,950 and is down 3% in a day and almost 2% in a week.
Similarly, most major altcoins also moved lower. ETH traded below the USD 1,120 support zone. XRP is moving lower towards USD 0.302. ADA settled below USD 0.45 and is showing bearish signs.
Total market capitalization
After a clear move below the USD 21,200 support, bitcoin price extended its losses below the USD 20,000 level to move into a bearish zone. The next major support is near the USD 19,500 zone, below which the price could start a stronger downward move.
On the upside, the price could face resistance near the USD 20,500 level. The next major resistance might be USD 20,800, above which bitcoin could rise towards the USD 21,200 barrier.
Ethereum price extended losses below the USD 1,120 support, moved below USD 1,100 and tested USD 1,080. ETH is down 6% in a day and a week. The next major support is near USD 1,050, below which the price could revisit the USD 1,000 support zone.
On the upside, the price might face resistance near USD 1,120. The next major resistance is at USD 1,150, above which the price could recover towards the USD 1,200 level.
Cardano (ADA) declined below the USD 0.45 support zone and is now approaching the USD 0.432 support. Any more losses might send the price towards the USD 0.42 level.
BNB is moving lower below the USD 230 level. The next major support is near the USD 220 level, below which there is a risk of a move towards the USD 200 level. On the upside, the USD 235 level presents resistance.
Solana (SOL) is down 6% and trading below the USD 35 level. An immediate support is
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