The Bitcoin price remained in a bearish zone below the support of USD 30,000. BTC even dipped below the $ 27,500 threshold and broke below $ 27,000. It is currently correcting higher near USD 28,000, but it is still down 9% in one day and 28% in one week.
Likewise, most large altcoins are down with double digits. ETH broke below $ 2,000 and tested $ 1,774. XRP fell 24% and tested USD 0.350. The ADA tested $ 0.40 before the bulls showed up.
Total market value
After closing below USD 30,000, the Bitcoin price is in bearish momentum and has dipped below USD 27,000. The bulls are now attempting a rally wave above the $ 28,000 level. If the BTC manages to stay above the $ 28,500 level, the next key resistance will now form near the $ 30,000 level.
On the downside, the first major support is near $ 25,500. The next big support is close to the $ 25,000 level, below which the price could extend its losses to $ 22,000.
The Ethereum price also started a big drop below the $ 2,200 support. ETH settled below the $ 2,000 support zone and extended its losses. It fell 18% and saw a sharp drop below $ 1,800. The price even tested the $ 1,770 level and is currently getting close to $ 1,940. On the upside, ETH may encounter resistance near the $ 2,000 level. The next big resistance is now forming close to USD 2,050.
If there is no upward breakout above $ 2,000, the price may drop to $ 1,700. The next big support is seen near the $ 1650 level.
Prices for ADA, BNB, SOL, DOGE and XRP
Cardano (ADA) broke below the $ 0.42 support and tested the $ 0.40 level before crossing back above $ 0.44, but the Bears were able to defend the gains above $ 0.50.
BNB fell 12% and is now trading near $ 270 after testing the $ 225 level earlier in the day. BNB also lost 33% in one week.
Solana (SOL) fell 38% in one day and traded below the USD 40 support. It traded close to the USD 38 level before experiencing a rally. The price is now up and facing resistance close to $ 45.
DOGE broke below the $ 0.072 support zone, tested $ 0.070 and rose. The price is now above $ 0.075, but there is a major hurdle near $ 0.080.
The price of XRP fell significantly below the $ 0.40 level. It tested the $ 0.35 level and rose back above $ 0.37. On the plus side, the price may meet resistance near $ 0.40.
Market for other altcoins today
Many altcoins have dropped more than 20%, including DOT, AVAX, SHIB, MATIC, CRO, LTC, NEAR, BCH, UNI, XLM, ALGO, VET, EGLD, FIL and HBAR. The worst performer among the 100 best cryptocurrencies goes to LUNA, which has fallen 97% in one day and fluctuates around $ 0.1.
To sum up, the Bitcoin price is attempting a recovery above the USD 28,000 level. However, the BTC needs to back over $ 30,000 to avoid another fall.
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