Bitcoin Below USD 34K, Ethereum Keeps Trending Lower, XMR, AXS, and NEAR Rally

 

  • Bitcoin price is struggling below USD 34,000.
  • Ethereum settled below USD 2,500, XRP is approaching USD 0.55.
  • Several smaller altcoins are rallying.

Bitcoin price remained in a bearish zone below the USD 38,000 level and extended losses below the USD 35,500 support. It is currently (04:04 UTC) showing bearish signs near USD 33,637 after recovering from USD 33,400. BTC is down almost 3% in a day and 12% in a week.

Similarly, most major altcoins declined heavily. ETH traded below the USD 2,550 and USD 2,500 support levels. XRP declined below the USD 0.58 support and tested USD 0.555. ADA is moving lower towards the USD 0.70 level.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a failed recovery attempt near USD 36,200, bitcoin price started a fresh decline. It even traded below the USD 34,000 support level and tested USD 33,400. An immediate resistance is near the USD 34,500 level. The next key resistance is now forming near the USD 35,500 level.

On the downside, an initial support is near USD 34,000. The next major support is near USD 33,500, below which the price might resume its decline.


Ethereum price

Ethereum price also started a major decline from the USD 2,650 resistance. ETH broke the USD 2,550 and USD 2,500 support levels. It even spiked below USD 2,450 and tested USD 2,420. It is now consolidating near the USD 2,460 level and might face resistance near the USD 2,500 level. ETH is down almost 4% in a day and 13% in a week.

On the downside, an immediate support is near the USD 2,400 level. The next major support is near the USD 2,350 level, below which the price might test USD 2,280.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) declined heavily below the USD 0.75 level. The price even traded below USD 0.72 and might test the USD 0.70 level. Any more losses might send the price towards the USD 0.68 level.

BNB gained bearish momentum and traded below the USD 365 support. The price even broke the USD 350 level before recovering. The next major support is near USD 342.

Solana (SOL) saw a strong decline below the USD 80 level. It is now trading near the USD 75 level and may perhaps move down towards the USD 70 level. On the upside, the bears might appear near USD 80.

DOGE extended its decline below the USD 0.125 level and tested the USD 0.120 support zone. If there is a downside break below USD 0.120, the price might test the USD 0.112 level.

XRP price also fell and settled below the USD 0.60 support. It tested USD 0.555 and is currently consolidating losses. If there is a downside break below USD 0.55, the price could test USD 0.50.

Other altcoins market today

Many altcoins are in the red zone, including LUNA, AVAX, DOT, SHIB, MATIC, LTC, ALGO, LINK, APE, RUNE, KLAY, and AAVE. Conversely, XMR, AXS, and NEAR gained 7%-10% in a day. XMR neared USD 217, AXS moved above USD 30, while NEAR surpassed USD 11.

Overall, bitcoin price declined heavily and traded below a major support at USD 35,500. If BTC starts a recovery wave, the bears might remain active near USD 34,500 and USD 35,000.

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