Yesterday we saw the start of a new bearish wave on Bitcoin below the USD 9,650 support. Later BTC / USD gained momentum and traded below USD 9,550 and USD 9,200 support. The next key support is near the USD 9,050 level, below which there is a risk of a sharp decline.
There has also been a sharp drop in most major altcoins, including Ethereum, XRP, Litecoin, Bitcoin Cash, BNB, EOS, TRX, ADA, and XLM. ETH / USD declined nearly 10% and tested the $ 235 area. XRP fell below the support levels of $ 0.250 and $ 0.242. The general market sentiment declined (09:00 UTC), with many signs of further losses.
The Bitcoin price has recently leveled below the support range of USD 9,550, triggering a sharp decline. BTC / USD even dipped below the support levels of $ 9,250 and $ 9,200. He tested the $ 9,100 level, and it seems that the $ 9,050 support could be tested. If there are further downward moves, there is a chance of a downward push below the $ 8,850 level.On the upside, initial resistance is near the $ 9,350 level. The main hurdle is now near the USD 9,550 mark.
The Ethereum price fell nearly 10% and was traded under many supports such as USD 242 and USD 240. ETH / USD tested the $ 235 level and is currently consolidating losses. Should an upward correction occur, the previous support at USD 242 should act as an important resistance.Conversely, the breakdown could break below $ 232 and $ 230 levels. The next major support is seen near the USD 220 level.
Bitcoin Cash, Litecoin and XRP price
Bitcoin cash price fell below the support levels of $ 350 and $ 340. BCH / USD fell 14% and even rose below the USD 320 support. The next big support is near levels 305 and 300 USD. On the plus side, previous support near the $ 340 mark could now act as resistance.Litecoin is still above the USD 65.00 support. If the current bias leads the price below $ 65.00, LTC / USD could fall towards the support levels of $ 60.50 and $ 60.00. On the upside, there are important hurdles that form near the $ 70.00 and $ 70.50 levels.The XRP price has also dropped nearly 10%, breaking many key supports near the $ 0.250 and $ 0.242 levels. The price tested the $ 0.235 level and could move lower towards the main support area of $ 0.232. On the plus side, the $ 0.242 and $ 0.245 might be a hurdle.