Bitcoin and Ethereum Try To Recover, DOGE Nosedives
Bitcoin price remained in a negative zone below the USD 33,500 level. BTC even broke the USD 32,000 level and it is currently (04:34 UTC) recovering losses. If the price climbs above USD 33,500, it could face resistance near the USD 35,000 level.
Meanwhile, many major altcoins are down in double digits in a day. ETH broke the USD 2,000 support and it tested the USD 1,850 zone. XRP/USD remains in a bearish zone and it even spiked below the USD 0.600 support.
Total market capitalization
There was a downside extension in bitcoin price below the USD 33,500 support zone. BTC gained bearish momentum below the USD 32,500 level. However, the bulls were active above the USD 31,000 level. It is now recovering losses and trading above USD 32,900. An immediate resistance is near the USD 33,500 level, above which there are chances of a recovery towards the USD 35,000 level. On the downside, an initial support is near the USD 32,200 level. The key support is now at USD 31,500, below which there is a risk of a drop towards the USD 30,000 level.
Ethereum price also followed a similar pattern and it traded below the USD 2,000 support. ETH even spiked below USD 1,920 and tested USD 1,850. It is recovering losses and trading well above USD 1,920. It might even recover above USD 2,000, but the bears might protect USD 2,120. An initial support is near the USD 1,920 level. The support is now forming near the USD 1,850 level, where the bulls might remain active.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) settled well below the USD 300 level. BNB even tested the USD 260 level and it seems like it could even test USD 250 in the coming sessions. If there is a recovery wave, it could face a strong resistance near the USD 300 level.Litecoin (LTC) extended its decline below USD 135 and USD 130. The price tested the USD 120 zone and it is recovering losses. On the upside, the bears might remain active near the USD 135 and USD 142 levels.Dogecoin (DOGE) declined heavily below the USD 0.22 and USD 0.20 support levels. It even tested USD 0.165 before recovering higher. On the upside, the price might face a strong resistance near USD 0.220 and USD 0.232 in the short-term.XRP price remained in a bearish zone and it extended its decline below the USD 0.600 support. It tested the USD 0.570 zone before correcting higher. On the upside, the bears might protect strong gains above the USD 0.665 and USD 0.680 levels.
Other altcoins market today
Many altcoins declined over 15%, including NEO, QTUM, FIL, XEM, KSM, BTG, ONT, BSV, AAVE, AMP, ENJ, MANA, BAKE, and BTT. Out of these, NEO is down close to 20% and it traded below USD 35.
Overall, bitcoin price is showing bearish signs below the USD 33,500 and USD 35,000 support levels. BTC is recovering losses, but the bears might face sellers near USD 35,000.