Bitcoin and Ethereum Struggle, DOGE Jumps 20% In One Hour
Bitcoin price meets resistance around $ 47,500.
Ethereum should receive $ 3,880, XRP may revise $ 0.750.
DOGE is up 20% in one hour and surpassed $ 0.20.
Bitcoin price continued to fall below the $ 48,500 and $ 47,000 levels. BTC even dropped below $ 46,000 and tested $ 45,800. It is currently trading above $ 47,300 again (11:51 UTC), but bears may remain active around the $ 48,500 level.
Likewise, most of the major altcoins are showing bearish signs. ETH fell below $ 3,700 before correcting higher again. XRP is consolidating losses below the $ 0.80 support zone. ADA may return to support at $ 1.20.
Total market capitalization
Source: tradingview.com Bitcoin Price
After a fresh bearish reaction, the bitcoin price continued to decline to below $ 47,000. BTC even broke through the $ 46,000 support zone, but the bulls were active above the $ 45,500 level. The price is recovering, but it faces many hurdles starting at $ 48,000. The next key resistance is at around $ 48,500, above which the price could move towards the $ 50,000 resistance zone.
Immediate support for the fall is around $ 46,000. Major support is found near the $ 45,500 and $ 45,000 levels, below which there is a risk of a major decline.
Ethereum price continued to decline below the $ 3,700 level, but the bulls were active above $ 3,650. ETH is recovering but the $ 3,880 level represents strong resistance. A key breakout zone is now forming around the $ 4,000 level.
In the event of a new decline, the price may find support near the $ 3720 level. The next key support is found near the $ 3,650 level, below which bears could test $ 3,550.
ADA, BNB, SOL, SHIB and XRP price
Cardano (ADA) is gaining momentum and is trading well below $ 1.265. It looks like the price could return to the support of $ 1.22. Major support is now forming around $ 1.20 where bulls can hold out.
Binance coin (BNB) is trying to recover and is trading near the $ 520 level. If the bears remain in action, there is even a risk of a break below $ 500. In this case, the price may drop to $ 450.
Solana (SOL) is consolidating above the $ 150 support. A break below the $ 150 support zone could trigger a sharper decline. The next important support is around $ 142, followed by $ 135.
SHIB is approaching $ 0.000032. The next important support is found around the $ 0.000030 level. Further losses could push the price towards the $ 0.000028 zone. Conversely, the price could rebound and test the resistance of $ 0.000035.
XRP price is consolidating below the resistance levels of $ 0.80 and $ 0.82. To start a decent recovery, the price could rise to the $ 0.85 level. Otherwise, it could slide towards the USD 0.750 support zone.
Other altcoins market today
Many altcoins fell more than 8% including REV, TFUEL, ZEC, WAXP, DCR, ROSE, WAVES, GALA, KDA, and ALGO. In contrast, DOGE started a strong rally after Tesla’s Elon Musk. said that the company “will make some merchandise that Doge can buy and see how things go.” DOGE is now up 25% in a day and 8% in a week, cutting its monthly losses to 21%.
To summarize, the bitcoin price is trying to rise above $ 48,000. To start new growth, BTC must clear $ 48,500 and then pick up pace to move above $ 50,000.