Bitcoin price started a downside correction below the USD 45,500 support. BTC even broke the USD 45,000 level and extended its decline. It is currently (04:00 UTC) trading well below USD 45,000, and it could extend losses below USD 44,000.
Similarly, most major altcoins are slowly moving lower. ETH traded below the USD 3,050 and USD 3,000 support levels. XRP is consolidating above the USD 1.05 and USD 1.08 support levels. Conversely, ADA outperformed with a strong move above the USD 2.00 resistance.
Total market capitalization
Recently, bitcoin price saw bearish moves below USD 45,500 and USD 45,000. It even settled below the USD 45,000 pivot level. An immediate support is near the USD 44,000 zone. If there is a downside break below USD 44,000, the price could slide towards the USD 43,200 level. The next major support sits near the USD 42,000 level.
On the upside, an initial hurdle is near the USD 44,800 level. The first key resistance is near the USD 45,000 level. The main resistance is now forming near the USD 45,500 level, above which the price might revisit USD 47,000.
Ethereum price is slowly gaining pace below the USD 3,050 support. ETH traded below USD 3,000, and it is approaching the USD 2,950 support. If there is a downside break below USD 2,950, the price could accelerate lower towards USD 2,880 or even USD 2,850.
An immediate resistance is near the USD 3,020 level. The first key resistance is near USD 3,050, above which the price might test the USD 3,110 pivot level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) remained well bid above the USD 1.92 support. As a result, ADA started a fresh increase above the USD 2.00 resistance. It is up over 8%, and there was a clear break above the USD 2.10 level. Any more gains could lead the price towards the USD 2.20 level.
Litecoin (LTC) declined below the USD 172 support and it tested the USD 165 zone. If the bears remain in action, the price could slide towards the main USD 155 support zone. Conversely, the price might attempt a recovery wave above the USD 170 and USD 172 levels.
Dogecoin (DOGE) spiked below the USD 0.288 and USD 0.285 support levels before it found bids. It started a fresh increase and climbed above the USD 0.300 resistance. An initial resistance is near USD 0.312, above which the price might revisit the USD 0.335 resistance zone.
XRP price is settled below the USD 1.20 pivot level. However, the bulls are now protecting the USD 1.05 and USD 1.08 support levels. As long as the price is above USD 1.05, there could be a fresh wave above the USD 1.20 resistance zone.
Other altcoins market today
A few altcoins are up over 10%, namely LUNA, AVAX, ATOM, AR, PERP, AUDIO, VGX, FTM, QNT, and XDC. Out of these, LUNA rallied 30%, and it surpassed the USD 30 level.
Overall, the bitcoin price is showing a few bearish signs below the USD 45,500 and USD 45,000 support levels. If BTC extends its decline below USD 44,000, it could revisit USD 42,000._____