Bitcoin and Ethereum Trend Lower, ATOM Accelerates
Bitcoin price extended decline below USD 43,500.Ethereum traded below USD 3,080, XRP is approaching USD 0.80.SOL declined below USD 100, ATOM jumped 5%.
Bitcoin price struggled to surpass the USD 44,500 resistance zone. There was a downside correction below USD 44,000 and USD 43,500. It is currently (11:51 UTC) showing bearish signs below USD 43,200.
Similarly, most major altcoins are also moving lower. ETH traded below USD 3,080, while XRP declined towards the USD 0.80 support. ADA is moving towards the USD 1.02 support zone.
Total market capitalization
After declining below the USD 43,500 support level, bitcoin price tested the USD 43,200 zone and remains at a risk of more losses. The next key support is near the USD 42,500 level, below which the price might test USD 42,000. Any more downsides may possibly send the price towards USD 41,200.
On the upside, an initial resistance is near USD 43,800. The next resistance is still near the USD 44,000 level, above which the price might test the USD 44,500 pivot level.
Ethereum price failed to stay above the USD 3,120 and USD 3,100 levels. ETH even traded below USD 3,080 and is moving towards USD 3,000. The next major support is near USD 2,950, below which the price could gain bearish momentum.
Conversely, it might recover above USD 3,080. The next key resistance is near the USD 3,120 zone, above which the price may perhaps test USD 3,200.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is moving lower and trading below USD 1.08. It might soon trade below the USD 1.05 support. In this case, the bulls might take a stand near the USD 1.02 support.
BNB failed to clear the USD 432 level. It trimmed gains and now trading near the USD 420 support. If there is a downside break, the price might slide to USD 412. The next major support is near the USD 405 level.
Solana (SOL) is down 3% and there was a break below the USD 100 level. The next major support is near the USD 92 level, below which the bears might test the USD 84 level in the near term.
DOGE is still below the USD 0.155 resistance. On the downside, the USD 0.142 level is a key support. If the bulls fail to protect USD 0.142, there could be a sharper decline towards USD 0.125 or even USD 0.120.
XRP price is moving lower and trading below USD 0.820. It might soon test the USD 0.800 support. Any more downsides could spark a sustained downward move towards USD 0.72 or even USD 0.65.
Other altcoins market today
Many altcoins are down over 4%, including CRO, LTC, ALGO, SAND, THETA, AXS, KLAY, FLOW, GALA, ENJ, AR, and TFUEL. Conversely, ATOM climbed 5% and tested the USD 30 level, trimming its weekly losses to 3%.
To sum up, bitcoin is moving lower towards the USD 42,500 support. If BTC fails to stay above USD 42,500, there could be a stronger bearish move towards USD 41,200 or even USD 40,500.