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Bitcoin price failed to clear the USD 46,500 resistance zone. As a result, there was a bearish reaction below USD 46,000. BTC is currently (12:14 UTC) showing a few bearish signs below USD 45,000, with a decent support at USD 44,500.
Besides, most major altcoins are still trading in a positive zone. ETH started a downside correction, but it is still above the USD 3,050 support. XRP continues to outperform and it remains elevated above USD 0.950.
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After a few failed attempts above USD 46,500, bitcoin price started a downside correction. BTC declined below the USD 46,000 and USD 45,500 levels. A daily close below the USD 45,000 support zone could spark an extended decline. The next key support is at USD 43,200.
On the upside, an immediate resistance is near the USD 46,000 level. The first key resistance is still near the USD 46,500 level, above which the bulls might gain strength.
Ethereum price also followed a similar pattern above USD 3,220. ETH failed to stay above USD 3,200 and it corrected lower below USD 3,180. If it continues to move down below USD 3,150, there is a risk of a move towards the USD 3,050 level.
On the upside, an initial resistance is near the USD 3,200 level. The next key resistance is near the USD 3,220 level, above which the price might revisit USD 3,275.
Cardano (ADA) tested the USD 1.90 resistance zone before there was a downside correction. It traded below the USD 1.85 and USD 1.82 support levels. If there are more downsides, the price could test the USD 1.75 support zone in the near term. On the upside, the USD 1.90 level is a major hurdle before USD 2.00.
Litecoin (LTC) failed to surpass the USD 180 resistance and corrected lower. It traded below USD 175 and the bulls also failed to defend USD 170. As long as the price is above USD 165, there could be a fresh increase towards the USD 180 resistance level.
Dogecoin (DOGE) gained pace above the USD 0.250 and USD 0.265 resistance levels. It even spiked above USD 0.280 and tested USD 0.295. It is now consolidating gains, with a major support at USD 0.265. The main support is now forming near the USD 0.250 level.
XRP price rallied above the USD 0.90 and USD 1.0 resistance levels. It spiked towards USD 1.10 before trimming gains and is now trading at USD 0.98. On the downside, the USD 0.920 and USD 0.900 levels are decent support zones. The key support is now forming near the USD 0.820 level.
Many altcoins climbed over 5%, including XDC, NEAR, NANO, KLAY, TEL, YFI, BTT, HOT, CHZ, TRX, XLM, and DGB. Out of these, XDC rallied 27% and it surpassed the USD 0.12 level.
To sum up, bitcoin price is now correcting gains from USD 46,500. However, BTC might still remain above USD 44,500 in the coming sessions.
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