Bitcoin, Ethereum and Altcoins Consolidate Above Major Support – Cryptonews

Bitcoin price is trading in a short-term bearish zone below USD 33,500. The current (12:20 UTC) price action is negative and suggests more downsides below USD 32,500. If BTC fails to stay above USD 32,200, there could be a sharp decline in the coming sessions.

Similarly, most major altcoins are struggling to recover losses. ETH is stuck near USD 2,000 and it remains at a risk of more losses. XRP is trading above the USD 0.620 support and it might find bids near USD 0.600.

Total market capitalization

Bitcoin, Ethereum and Altcoins Consolidate Above Major Support 101
Source: www.tradingview.com

Bitcoin price

After a bearish reaction, bitcoin price traded below the USD 33,500 support. BTC is now holding the USD 32,500 support. The main support is still near the USD 32,200 level. If there is a close below USD 32,200 and USD 32,000, there might be a stronger decline. In this case, the price could revisit USD 30,000.

On the upside, the price is facing resistance near USD 33,500. To start a decent recovery, the price must settle above the USD 34,000 resistance zone.

Ethereum price

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Ethereum price also traded below the USD 2,050 support, but the bulls managed to defend the USD 2,000 support. If there is a clear break and close below USD 2,000, there could be another sharp drop.

If there is a decent recovery, the price could face resistance near the USD 2,080 level. The main resistance is near USD 2,120, above which the price might test USD 2,200.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) started a fresh decline below the USD 1.35 support. It even traded below USD 1.30. If the bulls fail to protect USD 1.28, the price could decline towards the USD 1.25 level. Conversely, the price could recover and test the USD 1.35 resistance.

Litecoin (LTC) is consolidating above the USD 130 support level. If there is a downside break, LTC could test USD 125. The next major support is at USD 112. On the upside, the bulls need to gain strength above USD 140 for a strong move.

Dogecoin (DOGE) is struggling to stay above the USD 0.200 support zone. The next key support is near the USD 0.180 level. Any more losses might lead the price towards the USD 0.165 level. On the upside, the bears might remain active near USD 0.220 and USD 0.232.

XRP price is consolidating above the USD 0.620 level. The main support near USD 0.600 is still intact. If the price fails to stay above USD 0.600, there could be a sharp decline. If not, the price may possibly recover towards the USD 0.650 barrier.

Other altcoins market today

Many altcoins declined over 5%, including KCS, THETA, AMP, MDX, ICP, TEL, NANO, SUSHI, SNX, UNI, AAVE, and SHIB. Conversely, AXS, REV, ONE, and OKB are up over 6%.

To sum up, bitcoin price is still holding the USD 32,500 and USD 32,200 support levels. If BTC dives, there could be an extension towards the USD 30,000 support zone.

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Bitcoin, Ethereum and Altcoins Consolidate Above Major Support 102