The bears managed to keep Bitcoin price below the $50.000 level. BTC can extend losses below $47.200 if it breaks below $50.000. Currently (14:16 UTC) the crypto market is showing bearish signals and bitcoin is trading below $48.500, bulls need to take bitcoin to a close above $52.000 to change the trend in the near term.
Likewise, most large altcoins can extend losses. ADA is also moving down towards major support of $1,20.
In this article, we will discuss:
Bitcoin price
In the last week the bitcoin price extended the decline below $50.000. BTC once traded below $48.500 and the selling force has been successful so far. If there is a clear break below $47.200, there could be a steeper drop. The next major support is near the $46.000 level, below which the price could even drop below $45.000.
The first major resistance is near the $50.000 level. The second main resistance is forming near the $52.000 level.
Ethereum Price
The bulls are trying to drive Ethereum price to close above $4.000 and $4.080. On the downside, an initial support is near the $3.850 level. The main support is near the $3.550 level, below which the price could start a stronger decline.
On the other hand, there may be a steady rebound above $4.100. The main breakout zone for the short-term trend reversal is forming near the $4.250 level.
ADA, BNB, SOL, SHIB and XRP price
Cardano (ADA) is consolidating its price near the $1,30 support level. If there is a close below $1,30, the price may continue to move down towards the $1,20 key support. On the plus side, there are many hurdles close to $1,40.
Binance Coin (BNB) it's stuck near the $550 level. An immediate resistance is near the $575 level. The key level for a bigger raise is close to the $600 level. On the downside, key support is near the $500 zone.
Left (LEFT) is consolidating below the $175 resistance level. An initial support is near the $165 level. A close below $165 could generate further downsides. The next big support is near the $150 level.
SHIB INU is showing bearish signals near the US 0,0000350 level. If the bears are successful, the price could drop to the $0,0000320 level. Weekly main support might be $0,000030, where bulls can take a position.
XRP has its price trading in a range above the $0,800 support level. If there is a bearish break, the price may fall towards key support of $0,750. If there is a further increase, the price may face resistance near the $0,880 level.
In short, the bitcoin price is showing bearish signs in the near term and needs to look for resistance at the $52.000 zone for a fresh rally.
