Bitcoin and Ethereum Struggle to Recover Losses, Altcoins Turn Red

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  • Bitcoin price failed to recover above USD 22,000.
  • Ethereum is struggling below USD 1,250, XRP is facing resistance near USD 0.325.
  • HNT trimmed gains but is still the best performer today.

Bitcoin price stayed above the USD 21,200 support zone, formed a base, and started a recovery wave above the USD 21,800 level. But it failed to continue higher and is currently (04:07 UTC) trading near USD 23,360 again. BTC is down 5% in a day and 31% in a week.

Similarly, most major altcoins are struggling to start a recovery wave. ETH is facing resistance near USD 1,220 and USD 1,250. XRP is consolidating near USD 0.32. ADA failed to clear the USD 0.50 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After finding bids near USD 21,000, bitcoin price started a minor upside correction. BTC moved above the USD 21,800 and USD 22,000 levels. However, the bulls struggled to push the price above the USD 22,500 level and BTC dropped below USD 21,400 again.

An initial support is near the USD 21,200 level. The next major support is near the USD 20,800 zone, below which the price could test the USD 20,000 support. 

Ethereum price

Ethereum price also found support near the USD 1,100 zone. ETH started an upside correction above the USD 1,165 level. It even attempted a move above the USD 1,200 level but also failed. ETH is now trading near USD 1,160 and is down 1% in a day and 35% in a week.

An initial support is near the USD 1,120 level. The next major support is near USD 1,080, below which the price might accelerate towards USD 1,000. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) started a stronger increase above the USD 0.48 resistance. The price even spiked above the USD 0.50 level, but it failed to surpass the USD 0.52 resistance level and dropped below USD 0.47.

BNB recovered above the USD 220 and USD 225 levels. However, the bears were active near USD 230. The price is now consolidating near USD 215, with a decent support at USD 212.

Solana (SOL) gained pace above the USD 28 level. It even broke the USD 30 resistance, but faced sellers near the USD 32 level. It is back below USD 30, with a key support at USD 28.

DOGE broke the USD 0.0550 support level and moved to USD 0.053. On the upside, the bears were active near the USD 0.058 level. 

XRP price moved above the USD 0.312 resistance but failed near the USD 0.325 level and is now testing USD 0.31. 

Other altcoins market today

After trimming gains, a few altcoins are still up at least 2%, including DOT, LINK, HNT, GT, AMP, KUSAMA, and KLAY. Out of these, HNT gained 17% and surpassed the USD 9.5 level before correcting lower again. It’s still the best performer among the top 100 cryptoassets by market capitalization today. HNT is down 9% in a week.

Overall, bitcoin price failed to recover above USD 22,000 and might test the USD 21,000 level soon.

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