Bitcoin price is struggling to recover above the USD 33,500 resistance zone. BTC is currently (11:45 UTC) moving lower and trading below USD 32,000. It seems like the bears are aiming for a test of USD 30,000 in the near term.
Similarly, most major altcoins are gaining bearish momentum. ETH is down 5% and it may soon break the USD 1,800 support zone. XRP/USD is also declining and it might test the USD 0.500 support zone.
Total market capitalization
There was no recovery in bitcoin price above the USD 33,500 resistance zone. BTC is moving lower and it broke the USD 32,000 support. If the bears remain in action, there is a risk of a drop towards the USD 30,000 support. Any more losses might call for a test of the USD 28,000 support in the near term.
On the upside, an initial resistance is near the USD 32,400 level. The first major resistance is now forming near the USD 33,500 level.
(Learn more: Death Cross Appears on Bitcoin Charts, But It May Mean Nothing at All)
Ethereum price is struggling to move above the USD 2,000 level. ETH resumed its decline and it broke the USD 1,920 support. It seems like the bears are aiming for a clear break below the USD 1,800 level. The next key support on the downside is near the USD 1,680 level.
An initial hurdle on the upside is near the USD 1,950 level. The main resistance is now forming near the USD 2,000 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is facing an increase in selling pressure below the USD 300 level. BNB is declining and it could even dive below the USD 250 level. In the stated case, the bears might target the USD 220 support level. On the upside, the price could face sellers near USD 280.
Litecoin (LTC) is diving and it is now approaching the USD 112 support. If LTC continues to move down, the USD 100 level might act as a strong support. On the upside, the price might face sellers near the USD 125 and USD 128 levels.
Dogecoin (DOGE) settled below the USD 0.200 support zone. The price is consolidating near the USD 0.180 level and it could move down towards USD 0.165. The next major support for the bulls is near the USD 0.150 level.
XRP price settled below the USD 0.600 support. It even broke the USD 0.580 level and it is now approaching USD 0.550. The next major support for the bulls could be USD 0.520. Conversely, a recovery wave might face hurdles near the USD 0.600 and USD 0.620 levels.
Other altcoins market today
Many altcoins declined over 15%, including NEO, SOL, AMP, HNT, RUNE, BTG, TFUEL, KSM, ENJ, QNT, ONT, QTUM, VET, and WAVES. Out of these, RUNE is down almost 30% and it traded below USD 4.9.
To sum up, bitcoin price is declining and it might test USD 30,000. Any more losses might put a lot of pressure on BTC and it could even move towards USD 28,000.