Bitcoin, Ethereum and Altcoins Struggle to Recover

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After facing another rejection, bitcoin price started a fresh decline. BTC traded below the USD 45,000 support zone and it even spiked below USD 44,500. If there is a downside break below USD 44,000, the bears could gain strength. In this case, the price could test USD 43,500. The next major support might be near the USD 42,500 level.

On the upside, an immediate resistance is near USD 45,200. The first major resistance is near the USD 45,000 level, above which the price might revisit the USD 46,000 zone. 

Ethereum price remained in a bearish zone below the USD 3,400 zone. ETH broke the USD 3,300 and USD 3,220 levels. It even traded below USD 3,200, but the bulls are now protecting USD 3,150. If there is a break below USD 3,150, the price might decline towards the USD 3,000 level.

If there is an upside correction, an initial resistance is near USD 3,300. The first major resistance is now forming near the USD 3,350 level.

Cardano (ADA) declined below the USD 2.50 support to move into a short-term bearish zone. The price even traded below USD 2.40 and it might continue to move down. If there is a clear break below USD 2.35, the price might revisit the USD 2.20 support. The next major support is at USD 2.00.

Litecoin (LTC) is down by almost 5% and it traded below the USD 175 support. An immediate support is near USD 172. If there is a downside break below USD 172, the price could decline towards the USD 165 level. The next major support for the bulls might be USD 155.

Dogecoin (DOGE) declined nearly 5% and it settled below the USD 0.250 level. It is now consolidating near USD 0.235, below which the bears might test USD 0.220. Any more losses could lead the price towards the USD 0.200 level.

XRP price is gaining pace below the USD 1.10 support. The price even traded below the USD 1.05 support. The main support is near the USD 1.00 zone. If there is a clear break below USD 1.00, the price might decline towards the USD 0.950 level or even USD 0.880.

Many altcoins are down over 8%, including REV, AVAX, LUNA, FTM, CELO, SOL, CRV, AR, OMG, FTT, HNT, AAVE, XEC, and RAY. Conversely, XTZ and ATOM are up over 8%.

Overall, bitcoin price is still moving lower towards USD 44,000. If BTC trades below USD 44,000, there could be a drop towards the USD 42,500 support zone.

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