Bitcoin, Ethereum, and Altcoins Slide, WAVES Rallies
- Bitcoin price declined below USD 30,000.
- Ethereum tested USD 1,800, XRP traded below the USD 0.40 support.
- SOL is down 13%, WAVES outperforms.
Bitcoin price started another bearish wave after it failed to clear the USD 32,000 resistance. BTC declined almost 6% and traded below USD 30,000. It is currently (04:33 UTC) showing bearish signs near USD 29,770 and is almost unchanged in a week.
Similarly, most major altcoins reversed gains. ETH declined over 6% and even briefly spiked below the USD 1,800 level. XRP settled below the USD 0.40 support. ADA declined below the USD 0.60 support zone.
Total market capitalization
After a downside break below USD 31,200, bitcoin price gained bearish momentum and declined below the USD 30,000 support level. The bulls are now protecting the USD 29,500 support zone. If there is a clear move below USD 29,500, there is a risk of more downsides. The next major support is still near the USD 28,500 zone, below which the price could dive to USD 27,400.
On the upside, the price is facing resistance near USD 30,200. The next key resistance is near USD 30,500. A clear move above the USD 30,500 level might start a recovery wave.
Ethereum price also started a fresh decline below the USD 1,920 support. It is down over 6% and there was also a spike below the USD 1,800 level. It is now consolidating losses near USD 1,800, with an immediate support at USD 1,780. ETH is also down almost 7% in a week. The next major support is near USD 1,750, below which there could be a sharper drop.
On the upside, an initial resistance is near the USD 1,850 level. The next major resistance is near USD 1,920 (the recent breakdown zone), above which the price could start a recovery wave.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) declined almost 7% and there was a clear move below the USD 0.60 support. The next major support is near the USD 0.55 level, below which there could be a drop towards the USD 0.52 level.
BNB is also down 6% and is currently struggling to stay above USD 300. If there is a close below the USD 300 level, the bears might test the USD 288 support zone.
Solana (SOL) declined over 13% and there was a move below the USD 40 support. The price is now trading near the USD 38 level, below which the price could dive towards the USD 32 level.
DOGE trimmed gains from the USD 0.0880 resistance level. The price is down 5% and trading near the USD 0.0800 level. Any more losses may perhaps send the price towards the USD 0.075 level.
XRP price traded below the key USD 0.40 support zone. The next major support is USD 0.365. If the bears remain in action, there is a risk of a move towards the USD 0.35 level.
Other altcoins market today
Many altcoins are down over 5%, including DOT, AVAX, SHIB, LEO, CRO, LTC, UNI, NEAR, XLM, LINK, ETC, ATOM, ALGO, FLOW, and VET. Meanwhile, WAVES is the best performer among the top 100 cryptoassets by market capitalization today. It jumped 22% in a day, surpassed USD 9.50, and increased its weekly gains to 73%.
Overall, bitcoin price is showing bearish signs below USD 30,000. If BTC slides below USD 29,500, it could revisit the USD 28,500 support zone.