Ethereum and Bitcoin erase weekly gains, altcoins increase losses
- The price of bitcoin fell by 3% to USD 21,500.
- The price of Ethereum has declined below USD 1,450, and XRP is approaching USD 0.32 as a support level.
- SOL and ADA are down almost 5%.
The bitcoin price dropped below USD 21,500 and extended losses below USD 22,500. Currently (03:58 UTC), it is trading just below USD 21,200 and has lost more than 3% in a day and 5% in a week.
Similarly, the majority of major altcoins are falling in value. ETH is currently trading below the USD 1,450 support level.XRP may soon return to the USD 0.32 support level. The USD 0.465 support level was tested by ADA.
Bitcoin price
Following the rejection, the bitcoin price extended losses below the USD 22,000 support and nearly tested USD 21,000 before rising. On the downside, initial support is located near USD 20,850.
The next major support level is near USD 20,500, below which the price may test USD 20,000.
Ethereum price
Ethereum’s price fell further after breaking through the USD 1,500 support zone, and it is now consolidating near the USD 1,435 level.ETH is down more than 5% in a single day and nearly 9% in a week. The price may retest the USD 1,320 support zone if it falls below the next major support near USD 1,365.
ADA, SOL, and XRP price
Cardano (ADA) has lost ground below the USD 0.50 level. It is down nearly 5% and trading above USD 0.470. The next major support is near USD 0.45, below which a sharper decline is possible.
The price of XRP is falling and is approaching the USD 0.32 support level. If the bears continue to be active, a move towards the USD 0.30 support zone is possible in the near term.
Solana (SOL) advanced below the USD 40 support level. It is down nearly 5% and trading below the USD 38 level. The main support is near USD 35, below which it may fall into the USD 32 support zone.
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