Bitcoin price is struggling to rebound above the USD 32,000 and USD 32,200 resistance levels. BTC is moving down and could drop below $ 31,000. The current price movement (12:24 UTC) indicates further downtrends below USD 30,000.
Similarly, most of the major altcoins display bearish signs. ETH could accelerate below $ 1,820 and $ 1,800. XRP could continue to move towards $ 0.550.
Total market capitalization
Bitcoin price struggled to climb higher again after breaking well below USD 32,000. Immediate resistance to the upside is near the USD 32,000 mark. The first major resistance is near the $ 32,200 level, above which the bulls may seek a rebound towards the $ 33,000 level.
If the bears remain in action, the price could drop further below $ 31,000. The main roadside assistance is still near the $ 30,000 mark, below which the price could drop further.
The Ethereum price has settled well below the USD 2,000 level. ETH is gaining downside momentum and could soon drop below the USD 1,800 support. If so, the price could revisit the USD 1,750 support. Further losses could open the doors for a move towards $ 1,500.
On an upward correction, the price could encounter resistance near $ 1,920. The first major resistance is now forming near the USD 1,980 and USD 2,000 levels.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) is moving down and is now trading below $ 1.18. If ADA continues to slide, it risks moving towards the $ 1.15 level. Further losses could require a test of USD 1.10. On the downside, the $ 1.20 level is a strong resistance zone.
Litecoin (LTC) is now trading well below the USD 120 pivot level. If LTC breaks the USD 112 support, it risks falling towards the USD 100 support zone. On the flip side, the price could hit hurdles near the $ 125 mark.
Dogecoin (DOGE) is down over 7% and is nearing the USD 0.165 support. The next big support is near $ 0.150, below which the bears may aim for a test of the $ 0.112 level in the short term. On the flip side, the bears could stay active near $ 0.200.
XRP price is showing bearish signs below $ 0.600. The price is now approaching the USD 0.565 support. The next big support is near $ 0.550, below which it could test $ 0.500. On the downside, the $ 0.600 level is a breakout zone.
Different Altcoins Market Today
Many altcoins were down over 5%, including AXS, STX, FLOW, RUNE, SNX, SUSHI, COMP, RVN, SOL, HNT, AAVE, MATIC, CRV, and CEL. Of those, AXS fell over 14% and could come back to USD 15.
In conclusion, Bitcoin price signals a possible downward break below the USD 31,000 support. If BTC settles below $ 31,000, it could slide below $ 30,000.
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