The price of Bitcoin started a new decline from well above $ 34,000. BTC traded below the $ 33,200 support and is showing bearish signs, while currently (04:36 UTC) it is trading above $ 33,000.
Furthermore, most of the major altcoins are gaining bearish momentum. ETH broke the $ 2,100 and $ 2,050 support levels. XRP / USD traded below $ 0.650 and it could continue to decline.
Total market capitalization
After a break below $ 34,000, the price of bitcoin extended its decline. BTC broke the $ 33,000 levels before rising again. Major support is now near the $ 32,200 and $ 32,000 levels. If there is a clear break below $ 32,000, there is a risk of a sharp decline. In this case, the price could test the $ 30,000 level.
An initial resistance is near the $ 33,500 zone. The first major resistance is now near $ 34,000, above which the price could rise to the $ 35,000 level.
Ethereum price broke the $ 2,120 support level to start another drop. ETH is down more than 5% and even traded below $ 2,050. If there are more losses, the price could test $ 2,000. Any further loss could trigger a major drop towards $ 1,920.
If there is a further surge, the price could face resistance near $ 2,120. The key breakout zone is now forming near the $ 2,150 and $ 2,155 levels.
Price of BNB, LTC, DOGE and XRP
Binance coin (BNB) is also down 5% and even tested the $ 280 level. It looks like BNB is struggling to stay above $ 280. If the bears take over, there could be a dip towards the $ 265 level. On the upside, the bears could remain active near $ 295 and $ 300.
Litecoin (LTC) declined below the $ 135 support level. It is now trading near $ 130 and could soon test $ 125. Any further losses will possibly open the door for a move towards the $ 112 level. On the contrary, the price could start a new rise towards the level of 142 USD.
Dogecoin (DOGE) is consolidating below the $ 0.250 level. An immediate support is near the $ 0.232 level. The first key support is near $ 0.220, below which the price could fall towards the $ 0.200 level.
XRP price did not hold above the key support of $ 0.650. If the price continues to decline, it could test $ 0.620. The main breakout support is near the $ 0.600 level. On the upside, the price could face a barrier near the $ 0.665 and $ 0.675 levels.
Another altcoin market today
Many altcoins were down more than 5%, including TEL, TFUEL, AAVE, ZRX, LUNA, CRV, MKR, THETA, QNT, BTG, ZEC, COMP, ICP, MANA, and SUSHI. Of these, TEL declined almost 13% and broke the $ 0.025 level.
Overall, the bitcoin price is showing bearish signs below $ 34,000 and $ 33,500. If BTC breaks the support at $ 32,000, there is a risk of a stronger drop.