Bitcoin price began a downward correction below the USD 36,500 and USD 35,500 support levels. BTC has also passed the $ 35,000 level and tested $ 34,000. It is currently recovering (13:00 UTC) but the bulls could be fighting near $ 35,500.

Similarly, there has been a bearish reaction on most of the major altcoins including Ethereum, EOS, XRP, XLM, LINK, BNB, OMG, NEO, TRX, Bitcoin Cash, DOT, Litecoin, and ADA. ETH / USD fell over USD 100 and even tested the USD 1,250 support zone. XRP / USD is down 5% but is still well above the USD 0.265 support zone.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

Bitcoin price fell steadily after surpassing the $ 36,000 level. BTC was down above USD 1,500 and the price even tested the USD 34,000 support zone. A base appears to be forming above USD 34,000 and the price is recovering. Initial resistance is near the $ 35,000 level. The first major resistance is near the $ 35,500 level.

A significant break above USD 35,500 could result in a decent spike. On the flip side, the $ 34,200 and $ 34,000 levels are major supports.

Ethereum price

Ethereum’s price fell sharply after failing to stay above USD 1,350. ETH even passed the $ 1,300 level and tested the $ 1,250 support. The bulls are defending the USD 1,250 and USD 1,235 levels. Should it rise again, the USD 1,320 and USD 1,350 levels could act as strong resistance.

Conversely, a break below the USD 1,250 and USD 1,235 support levels could potentially trigger a sharp decline. The next major support is near the $ 1,150 level.

Bitcoin cash, Litecoin and XRP price

Bitcoin cash price did not stay above the USD 500 support level and even rose below USD 485. BCH tested the $ 470 level and is currently recovering. On the upside, previous support at $ 495 and $ 500 are likely to be major hurdles. A closing price above $ 500 could open the doors for a new move higher.

Litecoin (LTC) is down over 10% and is now trading well below the USD 150 support. LTC is testing the USD 140 support, below which it could even fall towards USD 132 and USD 130. On the upside, the bulls are likely to see selling interest again near $ 150. The next major resistance is near the USD 165 level.

The XRP price is in a crucial area above the USD 0.265 and USD 0.255 support levels. There have been some attempts to settle above USD 0.300 and USD 0.312, but the bulls have not been able to hold their strength. Price is bearish but the USD 0.265 support will most likely act as a strong buy zone.

Other altcoin market today

In the past few hours, many altcoins have declined by over 10% including UMA, AMPL, RSR, BAND, SOL, YFI, KSM, HEDG, UNI, DASH, IOST, ATOM, SUSHI, XTZ, LINK, and COMP. Conversely, HBAR remained in a positive zone after rising above USD 0.10.

In conclusion, Bitcoin price is falling and showing signs of declining below USD 35,500. Unless BTC stays above USD 34,000, there is a risk of further disadvantages versus USD 32,000.
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