Bitcoin price started a downward move after it failed to surpass USD 20,500. BTC declined below USD 20,000 again before recovering some of its losses. BTC is currently (11:48 UTC) trading near USD 20,000 and is down almost 2% in a day and 7% in a week.
Similarly, most major altcoins struggled and moved lower. ETH tested USD 1,520. XRP is struggling to stay above the USD 0.32 support. ADA settled below the USD 0.45 support zone.
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After two rejections near USD 20,500, bitcoin price reacted to the downside. BTC declined and traded below the USD 20,000 level. If the bears remain in action, the price could even test the USD 19,500 support. The next key support is still near the USD 19,200 zone, below which the price could test USD 18,800.
An immediate resistance is near the USD 20,300 level. The main breakout zone is still near the USD 20,500 level, above which the price might gain bullish momentum.
Ethereum price also failed to clear the USD 1,620 resistance zone. ETH spiked towards the USD 1,520 level but moved back towards USD 1,570 soon after. The price is down almost 1% in a day and 6% in a week. The next major support is USD 1,500, below which ETH could continue to move down and test the USD 1,420 support.
On the upside, the price might face resistance near the USD 1,600 level. The key barrier is now forming near the USD 1,620 level, above which ETH may start a steady increase.
Cardano (ADA) failed to stay above the USD 0.45 support zone but is still above the USD 0.432 support. If it fails to stay above this level, it would increase a risk of a move towards the USD 0.42 support zone.
BNB declined and tested the USD 275 support level. If there is no recovery wave, the price may perhaps decline towards the USD 262 support. The next major support is at USD 250.
Solana (SOL) is now trading below the USD 32 support. The next major support is near the USD 30.50 level, below which the price could drop towards the USD 29.80 level.
DOGE extended losses below the USD 0.0620 support zone. It even spiked and tested the USD 0.060 level. If the bears remain in action, the price could drop towards the USD 0.058 level.
XRP price is still consolidating above the USD 0.32 zone. If there is a downside break below the USD 0.32 support, the price might test the USD 0.305 level. The main support is at USD 0.30.
Many altcoins are moving lower, including DOT, SHIB, TRX, AVAX, UNI, ETC, FTT, ALGO, VET, ICP, CRO, and HBAR. Conversely, EOS and CEL jumped over 4% in a day, becoming the best performers among the top 100 coins today. EOS neared USD 1.47 and trimmed its weekly losses to less than 18%, while CEL reached USD 1.19 and is now down 12% in a week.
To sum up, bitcoin price is still fluctuating in a range between USD 20,000 and USD 20,500. If BTC continues to follow a bearish path, it could even decline below the USD 19,500 support zone.
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