Bitcoin Corrects Lower, Ethereum and Altcoins Extend Losses

  • Bitcoin prices are falling and could test USD 38,500.
  • Ethereum fell below USD 2,500 support and XRP traded below USD 0.850 support.
  • SHIB and CHZ are up more than 15%.

Bitcoin prices failed to hold above USD 40,000 and began a downward correction. BTC traded below USD 39,500. At 12:14 UTC, it is showing bearish signs. It seems that the bears could test USD 38,000.

Additionally, many major altcoins are suffering from a prolonged loss. ETH fell below the USD 2,500 level and continued its decline. XRP/USD trades below USD 0.850, and could continue to fall.

Bitcoin price

After an unsuccessful attempt to exceed USD 40,500, Bitcoin price began a downward correction. BTC traded below USD 39.500 and USD 39.250 levels. It could reach the USD 38.500 level if the price falls further. A move towards USD 38,000 could be possible if there are more losses.
The USD 40,000 level is the initial resistance. The USD 40,500 level is the next major resistance, and above which, the price could revert to USD 41,200.

Ethereum price

Ethereum price began a steady fall below the USD 2,550 level. ETH traded below the USD 2,500 level to fall further into a bearish zone. The USD 2,400 stop could be reached if the price falls further.

Surprisingly, the USD 2,485 level is the initial resistance. The current key resistance is located near the USD 2,485 level (the breakdown zone).

BNB, LTC and DOGE prices.

Binance Coin began a new decline from the USD380 resistance zone. BTC traded below USD 365 support, and is currently trading close to USD 350. A move towards USD 320 might be necessary if there are more losses. The USD 365 level may act as a support. The USD 380 level is the main resistance.

Litecoin is moving towards the USD165 support level. A decline below USD165 could allow for a move towards USD 150. Surprisingly, the USD 172 level is the initial resistance, followed by the USD 180 main level.

Dogecoin is moving lower, trading below USD 0.320. The USD 0.305 level is the immediate support. Support is currently located near the USD 0.300 mark. The USD 0.335 level, which is on the upside, acts as a major resistance.

After it failed to exceed USD 0.90, XRP price began a new decline. Now, the price is trading below the USD 0.850 and USD 0.865 support levels. The USD 0.82 is the next support level. The USD 0.880 level, which is a temporary resistance, is on the upside. It will be followed by USD 0.900.

Altcoins are also available today

Many altcoins saw a drop of more than 6%, including KSM and ICP, COMP, TFUEL TFUEL TFUEL, MATIC, NEXO and MATIC. SHIB and CHZ grew nearly 19%.

Bitcoin price is regaining gains and trading below USD 40,000. BTC may find support at USD 38,500 and USD 38,000.

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