Bitcoin and Ethereum reduce earnings, altcoins to the downside

• The price of Bitcoin it fell below the USD 37,500 support.
• Ethereum back below USD 2,700, XRP is struggling to stay above USD 0.60.
• LUNA and SOL are down by more than 6%.

Bitcoin price failed to move towards the USD 40,000 resistance. BTC started a new decline from USD 39,200 and dropped below USD 37,000. Currently (04:11 UTC) it is down 4% and there is a risk of further losses below USD 36,800.

Likewise, most of the major altcoins are moving lower. ETH hit a high near USD 2,800 and fell below USD 2,700. XRP failed to climb higher towards the USD 0.650 resistance. ADA is moving lower towards the USD 1.02 support.

Total market capitalization

The price of Bitcoin

After a key rejection near USD 39,200, Bitcoin’s price saw a bearish wave. BTC has fallen below the USD 37,000 level while immediate support is near the USD 36,500 level. The next major support is near USD 36,000, below which the price may continue to move lower.

If there is any further upward movement, the price could face resistance near USD 37,800. The next major resistance is near the USD 38,000 level, above which the price could gain momentum.

The price of Ethereum

The Ethereum price failed to break out of the USD 2,800 resistance zone. There has been a drop below the USD 2,700 level and the price may drop further. Initial support is near the USD 2,650 level. The next major support is near USD 2,600, below which the price could drop sharply.

On the upside, ETH could face resistance near USD 2,750. The next key resistance is near the USD 2,800 level, above which the price could rise steadily.

The price of ADA, BNB, SOL, DOGE and XRP

Cardano (ADA) hit a high near the USD 1.10 level and started a new decline. It is back below USD 1.05 and may continue to fall towards USD 1.02. The main support is near the USD 1.00 zone.

Binance coin (BNB) failed to break above the USD 388 level. There was a bearish wave below the USD 375 level. The price has also traded below USD 370 and could test the USD 355 level.

Solana (SOL) faced strong selling interest near the USD 112 resistance. It reacted to the downside below the USD 105 level. The price fell 10% and there was a clear move below the USD 100 support.

Dogecoin (DOGE) remained well below the USD 0.150 resistance. It is now approaching the USD 0.135 support. A break down below USD 0.135 could send DOGE towards the USD 0.122 level.

The price of XRP remained well below the USD 0.650 level. It is now struggling to stay above the USD 0.60 support. Any other losses could send the price towards the USD 0.58 support level in the short term.

More altcoin markets today

Many altcoins are down more than 5%, including LUNA, DOT, AVAX, SHIB, CRO, LTC, ATOM, LINK, NEAR, UNI, ALGO, and XLM. Of these, LUNA fell more than 6% and traded below the USD 50 level, increasing its weekly losses to 18%. Meanwhile, BITTOLD fell 24% to hit the USD 0.00173 level.

Overall, the price of bitcoin is moving lower again towards USD 36,500. If BTC fails to stay above USD 36,500, there could be a stronger drop towards the USD 35,000 level.

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