Bitcoin Struggles, Ethereum Outperforms and Altcoins Consolidate

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  • The Bitcoin price is not able to maintain above USD 34,000 support level.
  • Ethereum is stable above USD 2,150 support zone. XRP tested USD 0.65 support area.
  • COMP, MKR and XDC have increased by more than 12%

Bitcoin prices have fallen below the USD 35,000 support level. BTC is trending lower, trading just above USD 34,000 support zone. It is trading at 04:39 UTC and is showing some bearish signs. If the USD 34,000 support zone is broken, it could fall further.

Many altcoins have struggled to gain traction. ETH climbed higher above USD 2,250, but it is facing many hurdles. The USD/XRP exchange rate was at USD 0.65, and is currently moving higher.

Bitcoin price

After a rejection above USD 36,500, bitcoin price started a fresh decline. BTC has broken the USD 35,000 support level and is showing some bearish signs. The USD 34,000 level is the immediate support. A sharp drop is possible if the price closes below USD 34,000. This would mean that the price could fall towards the USD 32,000. Support zone.
The USD 35,000 area is the initial resistance. The USD 35,500 area is the first major resistance. Above that, the price could rise to USD 36,500.

Ethereum price

Ethereum price outperformed bitcoin and it climbed again above the USD 2,200 level. ETH broke through the USD 2,250 resistance but it did not follow up. The price is currently consolidating at USD 2,200 with support near USD 2,150.
The price could face resistance at USD 2,250 if there is a new increase. Resistance is currently located near USD 2,280 and USD 22,95 levels.

BNB, LTC and DOGE prices.

Binance coin (BNB) is now consolidating below the USD 300 level. The USD 280 level is the first support. Below that, the price could slide to the USD 265 level. The upside is that the price faces resistance at the USD 300 level. The market sentiment could be lifted if the price closes above USD 300.
Litecoin (LTC) is moving lower and it traded below the USD 142 level. LTC could find bids at the USD 135 level if there are further losses. A clear break above USD142 could push the price towards USD 150.

Dogecoin (DOGE) is down 4% and it even traded below the USD 0.250 support. The price may continue to fall towards the USD 0.2220 support level. The price must rise above USD 0.280 to move into a positive zone.

XRP price extended its decline and it tested the USD 0.650 support zone. It is currently trading at USD 0.675 and rising. The USD 0.685 level is the immediate resistance. The USD 0.700 level is the main resistance, and above that the price could revisit USD 0.735.

Altcoins are also available today

Many altcoins saw gains of over 5% including MKR and XDC. MKR rose 15%, and even exceeded the USD 2,700 level.

Bitcoin price is not able to hold above USD 34,000 support. A sharp bearish wave could occur if BTC falls below USD 34,000

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