The Other Day, bitcoin began a fresh decrease after it failed to climb above USD 9,500 BTC got bearish momentum today and broke the USD 9,300 support level. It appears like the price is most likely to continue lower towards the USD 9,050 and USD 9,00 0 support levels.
Likewise, most significant altcoins began a fresh decline after they failed to clear weekly resistances, consisting of ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is currently (08: 30 UTC) trading below the USD 230 support and it may decline to USD220 XRP/USD is acquiring bearish momentum and it might review the USD 0.182 support.
Total market capitalization
Just Recently, bitcoin price saw a boost in selling pressure below the USD 9,400 level. BTC followed a bearish path and traded below lots of significant assistances near USD 9,300 It has actually unlocked for more losses and the price may continue to move down towards the USD 9,050 and USD 9,00 0 support levels. Any more losses might lead it to USD 8,800
To start a good recovery wave, the price should exceed the USD 9,400 level. The main difficulty is still near the USD 9,550 level.
Ethereum price responded to the drawback and traded below the USD 232 and USD 230 support levels. ETH is approaching the USD 225 support, below which the bears are most likely to intend a test of the USD 218 swing low.
On the advantage, the previous support near USD 230 and USD 232 are most likely to serve as obstacles. The key resistance to start a rally is seen near the USD 235 level.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price failed to remain above the USD 240 level and began a downmove BCH is now approaching the USD 230support If the bears remain in action, the price might continue to move down towards the USD 220support The bulls are now facing a significant resistance near USD 238 and USD 240.
Litecoin is following a bearish path and it appears like the price might even struggle to remain above the USD 42.20support In the pointed out bearish case, LTC might dive towards the USD 40.00support Any more losses might lead it towards the USD 38.00 pivot level. On the advantage, the USD 44.50 and USD 45.00 levels are key breakout zones.
XRP price failed to remain above the USD 0.192 and USD 0.192 support levels. The price is currently declining and trading well below USD 0.190 It appears like there are high possibilities of a move towards USD 0.182 On the other hand, the price should exceed the USD 0.190 and USD 0.192 resistance levels to start a fresh upward move.
Other altcoins market today
In the past 3 sessions, a couple of small altcoins rallied more than 10%, consisting of FXC, ERD, LEND, NEXO, RLC and HYN. On the other hand, RUNE, ARK, CHSB, XVG and DGB are down more than 10%.
To sum up, bitcoin price began a strong decline after it was turned down near the USD 9,550 resistance. The current price action recommends BTC may continue to move down towards USD 9,00 0 in the coming sessions. On the other hand, it may be really hard to clear the USD 9,400 and USD 9,550 resistance levels.