Bitcoin price failed to stay in a positive territory above the USD 45,500 support. BTC is slowly inching lower and it is currently (11:45 UTC) struggling to stay above USD 45,000. If it extends its decline below USD 45,000 and USD 44,500, there could be a sharp decline towards USD 42,000.
Similarly, most major altcoins are moving lower, too. ETH is struggling to stay above USD 3,000 and it might even fall below USD 2,950. XRP is down 10% and it is approaching the USD 1.05 support. ADA and BNB are also gaining bearish momentum.
Total market capitalization
After a downside break below USD 46,500, bitcoin price extended its decline. BTC is now struggling to stay above the USD 45,000 and USD 44,500 support levels. If there is a downside break below USD 44,500, the price may possibly decline towards USD 43,200. After that, the next major support sits near the USD 42,000 level.
On the upside, initial resistance is near the USD 45,700 level. The first key resistance is now forming near the USD 46,500 level, above which the price might surge above USD 47,000.
Ethereum price settled below the USD 3,110 support. ETH is struggling to stay above USD 3,000 and it might continue to move down. The next major support is near USD 2,950, below which the price could accelerate lower towards USD 2,800.
An immediate hurdle on the upside is near the USD 3,080 level. The next key breakout resistance is now forming near the USD 3,110 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) is down over 6% and it broke the USD 2.00 support level. An immediate support is near the USD 1.95 level, below which the bulls might struggle. In the stated case, the price could decline steadily towards the USD 1.80 support zone.
Litecoin (LTC) is down 10% and it broke the USD 170 support zone. The price is approaching the USD 165 support. A downside break below USD 165 could set the pace for a larger decline. The next major support sits at USD 155. Conversely, the price might recover towards the USD 175 level.
Dogecoin (DOGE) is down over 12% and it broke the USD 0.300 support zone. The price is now struggling to stay above USD 0.280. The next major support is near the USD 0.265 level, where the bulls might emerge. On the upside, the previous support at USD 0.300 could act as a resistance.
XRP price is down 10% and it traded below the USD 1.10 support. The price is approaching the USD 1.05 support zone. If there is a downside break below the USD 1.00 support, XRP could accelerate lower. The next key support sits near the USD 0.90 level.
Other altcoins market today
Many altcoins are down over 10%, including AUDIO, RUNE, LINK, GRT, FTM, COMP, AAVE, THETA, UNI, SUSHI, EOS, XEM, MATIC, SC, and VET. Out of these, LINK and RUNE are down 15%.
To sum up, bitcoin price is down 5% and it is struggling to stay above USD 44,500 support zone. If BTC continues to move down, the price could even hit USD 42,000.