Bitcoin Tests USD 30K, Ethereum Dives, LUNA Halves as UST Loses Peg
Bitcoin price remains in a strong downtrend below the USD 35,000 support level. BTC even dropped below USD 30,000 before recovering. It is currently (04:44 UTC) correcting losses and trading near USD 30,800, but upsides might be limited above USD 32,500. BTC is down almost 9% in a day and 20% in a week.
Similarly, most major altcoins declined sharply. ETH traded below the USD 2,350 and tested the USD 2,200 support. XRP declined below the USD 0.50 support while ADA spiked below USD 0.60 before recovering to USD 0.64.
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After a close below USD 35,000, bitcoin price extended its losses. It even spiked below USD 30,000 before the bulls appeared. The price is now correcting losses but is struggling to move above USD 31,000. The next immediate resistance is near the USD 32,000 level, followed by the USD 32,500 level.
On the downside, an initial support is near USD 30,500. The main support now is near the USD 30,000 level, where the bulls might take a stand.
Ethereum price also gained bearish momentum below the USD 2,500 level. ETH declined below the USD 2,350 and USD 2,250 support levels. It tested the USD 2,200 level and is currently trading above USD 2,300 again. ETH is down 6% in a day and 19% in a week. On the upside, the bulls may perhaps face resistance near the USD 2,400 level.
On the downside, an immediate support is near the USD 2,280 level. The next major support is near the USD 2,200 level, below which the price might test USD 2,000.
Cardano (ADA) declined heavily below the USD 0.70 level. The price even traded below USD 0.62 and spiked below USD 0.60. It tested USD 0.585 before there was a recovery wave that brought the price back above USD 0.62.
BNB declined almost 12% and even spiked below the
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