Bitcoin price remained in a bearish zone after falling below $ 35,000. BTC fell below many key supports near $ 32,000 to enter a bearish zone. It was even below $ 29,000 and is currently (05:00 UTC) approaching $ 32,000.
Similarly, most of the large altcoins went down a lot and are now moving higher again. ETH / USD fell below USD 1,150 and even tested USD 1,050. XRP / USD fell 15% and even fell below USD 0.255 before correcting higher.
Total market capitalization
After closing below $ 34,000, Bitcoin price struggled to correct a higher value. BTC has extended its decline below the support level of $ 32,000 and even rose below the main pivot level of $ 30,000. The bulls appeared near USD 28,800 and the price recently began an upward correction.
It is trading above the $ 30,000 level with an initial resistance of $ 31,800. The first major resistance is forming near $ 32,200, but the main hurdle could be near $ 33,000.
“”[The USD 30,000] The levels look very vulnerable and an interruption below this is bad news for Bitcoin and cryptos in general in the short term, “wrote Craig Erlam, Senior Market Analyst at Oanda Europe, in a note on Thursday, according to Bloomberg.” I wouldn’t be surprised to see a $ 20,000 test coming soon. However, Jehan Chu, managing partner of Hong Kong blockchain advisory firm Kenetic Capital, added that a “natural correction” was underway and that profit-taking would not reverse the unprecedented assimilation of Bitcoin into Wall Street’s DNA this year results in a value of $ 100,000. “
Ethereum price fell nearly 18% and broke the USD 1,250 and USD 1,150 support levels. ETH has tested the USD 1,050 level and is now recovering from losses. The price is back above USD 1,120 but there are obstacles near USD 1,180 and USD 1,200.
The main resistance is now forming near the USD 1,250 level (the final default zone). On the flip side, the USD 1,100 and USD 1,050 levels are important supports.
Bitcoin Cash, Litecoin and XRP Price
Bitcoin cash price is down 12% and has extended its decline below $ 425. BCH even got below $ 400, but the bulls took a stand. The price is currently rebounding above USD 410 and showing positive signs. On the upside, the first major resistance is near USD 435, but the main resistance for the upside could be USD 450.
Litecoin (LTC) fell below the USD 132 and USD 130 support levels. LTC tested the USD 122 support and is back above USD 130. Initial resistance to the upside is near the USD 138 and USD 140 levels. To in To enter a positive zone, the price must be above USD 142. On the downside, the USD 130 level could potentially be a decent support zone.
XRP price also followed Bitcoin and Ethereum, falling below the USD 0.280 support. The price even fell below the USD 0.265 and USD 0.255 support levels. The price is currently rebounding higher and trading near USD 0.265. On the upside, the price could face resistance near USD 0.280. The main breakout resistance is still near the USD 0.300 level.
Other altcoin market today
Many altcoins were down over 10% including ENJ, IOST, DASH, HBAR, REN, EWT, BTG, SOL, DCR, BRT, VGX, ADA, BCH, OCEAN, XMR, CRO, and WAVES. Conversely, CELO, MANA, CRV and BAT rose by over 8%.
Overall, Bitcoin price is showing some bearish signs below $ 32,000 and $ 33,000. There could be a short-term downside correction but the bulls could struggle near USD 32,500 and USD 33,000.
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