Bitcoin price failed to stay above the USD 32,200 support zone. BTC extended its decline and even traded below $ 31,550. It tested the $ 31,150 level and is currently attempting an upward correction (04:24 UTC).
Likewise, most of the major altcoins are traded in the red zone. ETH has settled below $ 2,000 but the bulls are protecting $ 1,880. XRP could continue to decline if there is a closing price below $ 0.600.
Total market capitalization
After bitcoin price struggled above $ 32,500, another decline began. BTC fell below the last swing low of $ 31,550. The cons, however, were limited and the price stayed above $ 31,150. It is now correcting higher and trading around $ 32,000. Immediate resistance is near the USD 32,200 level. The main resistance is still near the $ 33,000 mark, above which price could gain upside momentum.
On the downside, initial support is close to the $ 31,500 level. The first major support is at $ 31,150, below which the bears could aim for a test of $ 30,000.
Ethereum price continued to decline below the $ 2,000 support. ETH even traded below $ 1,920, but the bulls protected $ 1,880. The price is now hovering above $ 1,950. However, the bulls could encounter strong selling interest near the $ 2,000 mark.
If the price does not continue to rise, it could fall further below $ 1,900. The main support is near $ 1,880 and $ 1,865, below which the price could test $ 1,800.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) is holding above the $ 1.22 level. Immediate resistance to the upside is near the $ 1.25 level. A closing price above the USD 1.25 level could initiate a decent rise. The next major resistance is near the $ 1.30 level where the bears may take a stand.
Litecoin (LTC) was able to stay above the USD 125 support level. LTC could rebound above $ 130 but could face strong resistance near the $ 132 mark. A proper closing price above the $ 132 level could potentially trigger a steady spike.
Dogecoin (DOGE) extends losses and could soon break the USD 0.188 support zone. If there is a downside break below $ 0.188 and $ 0.180, the price could test $ 0.165. The next big support is seen near the $ 0.150 level.
The XRP price is consolidating above the $ 0.600 level. Initial resistance is near the $ 0.632 level. The first major resistance is near the $ 0.650 level. Conversely, there could be a downside break below the USD 0.600 zone.
Different Altcoins Market Today
Some altcoins gained over 5%, including XEM, BAKE, KSM, XLM, STX, BNB and MKR. Conversely, TEL, RUNE, ENJ, MANA, FTT, CRO and HNT have decreased by over 5%.
Overall, Bitcoin price is attempting an upward correction above $ 32,200. However, BTC needs to level off above $ 32,500 and $ 33,000 to continue rising in the short term.
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