Bitcoin Shows Bearish Signs, Ethereum and Altcoins Lose Momentum

  • Bitcoin price is declining towards USD 64,000.
  • Ethereum is back below USD 4,700, XRP dropped below the USD 1.20 support.
  • IOTX and OMG are down over 15%.

Bitcoin price faced resistance near the USD 65,500 level. BTC started a fresh decline and traded below USD 65,000. It is currently (11:57 UTC) showing bearish signs near USD 64,000 and it might extend losses towards USD 62,000.

Besides, most major altcoins resumed a downward move. ETH failed to clear USD 4,800 and declined below USD 4,700. XRP is back below USD 1.20 and it might move towards USD 1.12. ADA is at risk of a decline below the USD 2.00 support.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a minor recovery wave, bitcoin price faced sellers near the USD 65,500 level. BTC started another decline and traded below USD 65,000. The price even tested the USD 64,000 level. An immediate support is near the USD 63,200 level, below which the price might test USD 62,500. The next key support is near the USD 62,000 level.

On the upside, the USD 65,000 level is a major hurdle. The next key resistance is forming near the USD 65,500 level, above which the price could start a steady increase.

Ethereum price

Ethereum price failed to clear the USD 4,800 resistance level. ETH trimmed gains and declined below USD 4,750. On the downside, the USD 4,600 level is a key support. A downside break below USD 4,600 could accelerate losses towards USD 4,500 in the near term.

Conversely, ETH might start a fresh increase above the USD 4,700 level. The next major resistance is near the USD 4,800 level, above which the price could rise towards USD 5,000.

ADA, BNB, SHIB, SOL, and XRP price

Cardano (ADA) failed to surpass the USD 2.12 resistance level. ADA started a fresh decline and traded below USD 2.05. It seems like the bears are now aiming for a clear close below USD 2.00. The next major support is near the 1.92 level.

Binance coin (BNB) failed to clear the USD 635 resistance. As a result, there was a bearish reaction below the USD 620 support. The price is now approaching the USD 600 support, below which the bulls might lose control.

SHIB spiked above the USD 0.0000565 zone before the bears appeared. There was a bearish reaction below the USD 0.0000540 level. The next major support is near USD 0.0000520, below which the price could revisit USD 0.0000500.

Solana (SOL) attempted a move towards the USD 250 level but failed. There was a fresh decline below USD 230. If the bears remain in action, the price could test USD 210. The next major support is at USD 200.

XRP price started a fresh decline below the USD 1.20 and USD 1.192 support. The next key support is near USD 1.15. Any more losses may perhaps lead the price towards the USD 1.10 level.

Other altcoins market today

Many altcoins are down over 5%, including OMG, IOTX, LPT, ONE, OKB, LINK, HNT, RUNE, AR, KDA, DOT, and FTM. Out of these, OMG declined 25% and traded below USD 13. Meanwhile, SAND is up 16%, while MANA rallied 29%.

To sum up, bitcoin price is showing bearish signs below USD 65,000. If BTC fails to recover above USD 65,500, it might slide towards the USD 62,500 support level in the coming sessions.

Source

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