- The price of bitcoin has dropped over 3% and tested $45,000.
- Ethereum is down 5% as XRP struggles to hold above $0.80.
- DOGE gained almost 7% and broke the $0.160 level.
The price of Bitcoin has struggled to hold above the $47,000 pivot. BTC started a new decline and traded below the support of $46,000. Currently (04:07 UTC) it is down over 3% and is trading around $45,200.
In addition, most of the major altcoins are also showing bearish signs. ETH fell over 5% and moved below the $3,350 support. XRP could get bearish momentum if it breaks the $0.80 support. ADA was also down 6% and there was a move below $1.15.
Total market capitalization
After trying to overcome the level of $47,200, the price of bitcoin began a new decline. BTC fell below the $46,000 support and even tested the $45,000 support. The next major support is near $44,450, below which the price could continue its decline. In this case, the bears could test support at $43,200.
On the other hand, initial resistance is near the $45,500 level. The next key resistance lies near the $46,200 level, above which the price could begin a sustained rise.
Ethereum price peaked around $3,550 and is down over 5% to break support at $3,350. The price even tested 3275 USD. It is currently consolidating above $3,300. If there is another decline, the price may test the $3250 level. The next major support is near the $3,200 level.
On the other hand, the price may fluctuate around $3,380. The next key resistance could be near the $3,420 level, above which the price could rise to $3,500.
Price of ADA, BNB, SOL, DOGE and XRP
Cardano (ADA) dropped sharply after closing below the $1.18 support level. It is now down 6% and there has been a move below $1.15. The next key support is near the $1.12 level.
BNB cut profits and trade below $442. If the bears continue to act, the price could test support at $432. Any further gains could send the price towards the $420 level.
Solana (SOL) fell over 7% and the bears pushed the price below the $125 support. The next major support is near the $120 level. If there are more downsides, the price could perhaps test $112.
DOGE remained in the positive zone above the level of $0.155. It was up nearly 7% and the bulls pushed the price above $0.160. If they remain in place, the price could test $0.165.
Price XRP struggling to hold above the $0.80 support. If there is a break down and the price closes below $0.80, the price could drop to $0.75.
Other altcoins today
Many altcoins have fallen over 5% including AVAX, DOT, MATIC, NEAR, ATOM, WAVES, LINK, UNI, TRX, BCH, FTT, ETC, XLM and VET. Of these, WAVES fell 13% to trade below $30, while CELO fell 11% to $4.27.
Overall, the price of Bitcoin is trading near the main support at $45,000. If BTC drops below $45,000, there is a risk of falling further.