CryptoWallCity vs MEXC Exchange

Bitcoin and Ethereum Negative Trends, BNB Shines

  • Bitcoin price fell below the $22,000 support.
  • Ethereum tested the $1,550 support area, XRP stabilized above $0.335.
  • BNB is up 5% and EOS is gaining bullish momentum.

Bitcoin price accelerated below the $23,200 support. BTC traded below the $22,000 support area and tested the $21,000 level. Currently (04:00 UTC) is consolidating losses and facing multiple hurdles near $22,000.

Similarly, most of the major altcoins are back in bearish territory. ETH has dipped below the $1,750 and $1,650 support levels. XRP tested the $0.335 support area. ADA is consolidating above the $0.45 support.

Total market capitalization

Total market capitalization
Total market capitalization. Source: www.tradingview.com

Bitcoin price

After plummeting below the $22,500 support, bitcoin price has turned bearish. BTC has been trading below the $22,000 and $21,500 support levels. It tested the $21,000 zone and is currently correcting losses. On the downside, the price is facing resistance near the $21,650 level. The next resistance is near the $22,000 level. The main weekly resistance is now near $23,000, above which the price could start a fresh rise.

Immediate support is near the $21,200 level. The next major support is near the $21,000 region, below which price could resume the downtrend.

Ethereum Price

Ethereum price also gained downward momentum below the $1,750 level. ETH even traded below the $1,600 support and tested $1,550. It is adjusting losses and trading above $1,600. On the downside, the price could encounter resistance near the $1,650 level. The next key resistance is near the $1,720 level, above which a steady rise is possible.

On the downside, initial support is near $1,580. The next major support is at $1,550, below which a drop to $1,500 is possible.

Price of ADA, BNB, SOL, DOGE and XRP

Cardano (ADA) gained bearish momentum below the $0.50 support area. The price tested the $0.45 support area and started a consolidation phase.

BNB remains bid high above the $275 support area. It recovered and gained more than 5%. The price is currently trading near $300, with immediate resistance at $305.

Solana (SOL) spiked below the $35 support zone. It is currently adjusting for losses and testing $36.50. The first resistance is near $37.20, above which a steady rise is possible.

DOGE settles below the $0.070 support area. To start a new rally, the price must recover above $0.0700 and $0.072. Otherwise, it can drop to the $0.065 support.

XRP price traded below the $0.35 support and tested $0.335. It is currently consolidating and possibly attempting a fresh rise above the $0.35 resistance area.

Another altcoin market today

Several altcoins are adjusting for losses, including DOT, SHIB, MATIC, UNI, FTT, BCH, VET, APE, EOS, QNT, EGLD, and AAVE. Of these, EOS is up more than 8% and trading above $1.55.

Overall, the bitcoin price is showing signs of falling below $22,000. If the bears remain active, a drop towards $20,000 is possible.

Find the best price to buy/sell cryptocurrencies:

Another altcoin market today
Another altcoin market today

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