Bitcoin seems to be following a bearish path below USD 18,200. While Ethereum traded below USD 550, XRP is still holding the USD 0.550 support. AMPL, AAVE, and LRC are down over 8%.
There was a fresh bearish reaction in bitcoin from the USD 18,500 resistance. BTC traded below the USD 18,200 level, and it even declined below USD 18,000. BTC is currently (05:00 UTC) consolidating near USD 18,000, and it seems like the bears are aiming more downsides towards USD 17,650 or USD 17,500.
Furthermore, bearish signs are emerging for most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is down 3%, and it broke the USD 550 support level. Conversely, XRP/USD is still above USD 0.550, but it struggles to gain bullish momentum.
Total Market Capitalization
Bitcoin Price
There was another bearish wave in bitcoin below the USD 18,200 support. BTC even traded below the USD 18,000 level and tested USD 17,700. It seems like there are chances of more downsides below the USD 17,800 and USD 17,650 levels. The next key support is near USD 17,500, below which the bears might aim for a test of USD 17,250.
On the upside, the USD 18,200 level is short-term resistance. The main opposition is forming near the USD 18,450 and USD 18,500 levels.
Ethereum Price
Ethereum shows a few bearish signs, and it recently traded below the USD 560 and USD 550 levels. ETH is holding the USD 540 level, but the current action suggests more downsides towards the USD 530 level. The next key support could be near USD 522 or USD 520.
If there is a new increase, the USD 565 level might act as a strong resistance. The main breakout zone is still near the USD 580 level, above which the Ether might accelerate higher towards USD 600.
Bitcoin Cash, Litecoin, and XRP Price
Bitcoin Cash is down 2%, and it might gain bearish momentum below the USD 260 level. In the stated case, BCH could revisit the USD 250 support. Any more downsides might clear the path for a push towards the USD 235 and USD 232 support levels. On the upside, the USD 270 and USD 275 levels are initial hurdles.
Litecoin (LTC) extended its decline, and it even broke the key USD 72.20 support level. LTC is still holding the USD 70.00 support, but there is a clear risk of more losses. The next major support is near the USD 65.50 level. Conversely, LTC might face resistance near the USD 74.50 and USD 75.00 levels.
XRP failed to clear the USD 0.580 resistance level and started a minor decline. XRP is down 3%, but it is still trading above the USD 0.550 support. If the bears manage to clear USD 0.550, XRP might slide towards the USD 0.535 support or even USD 0.520.
Other Altcoins Market Today
Many altcoins declined over 5% in the past few hours, including AMPL, AAVE, XLM, LRC, WAVES, SUSHI, THETA, RSR, MAID, AVAX, VET, XEM, ALGO, and BAT. Out of these, AMPL declined 10%, and it is trading below the USD 0.90 support level.
In summary, Bitcoin shows a few bearish signs, and it is trading below USD 18,200. If there is a clear break below USD 17,800 and USD 17,650, the bulls might struggle in the short-term.
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