Bitcoin and Ethereum dive as Polkadot and Solana rally

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The price of Bitcoin made another attempt to break above the resistance of $ 48,000. However, the bulls failed to strengthen, resulting in a fall below $ 47,000. BTC even traded below $ 46,500 and is currently showing (04:00 UTC) some bearish signs.

Likewise, most of the major altcoins correct for earnings. ETH twice crossed nearly $ 3,325 and began to correct downward. XRP did not break above $ 1.30 and corrected lower to $ 1.20. On the other hand, the DOT rebounded more than 15% and it broke the resistance of 25 USD.

Total market capitalization

Source: www.tradingview.com Bitcoin price

After another rejection close to $ 48,000, the price of bitcoin began a downward correction. BTC corrected below $ 47,000 and $ 46,500. He even retested the support level of $ 45,500. The bulls are now protecting further losses, with immediate resistance at $ 47,000. The main resistance is still close to 48,000 USD, above which the price could start a strong rally.

First bearish support is near USD 46,000. The first key support is now forming near the $ 45,500 level. Further losses could eventually drive the price towards $ 44,200.

Ethereum price

Ethereum’s price also followed a similar trend and moved lower from the resistance zone of $ 3,325. ETH broke $ 3,200 support, but bulls are protecting $ 3,110 support. If they fail in the short term, there is a risk of further decline towards the $ 3,000 support.

On the upside, the price faces a breakout area near the $ 3,245 level. Major resistance is still near the $ 3,325 level, followed by $ 3,350.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) broke through resistance at $ 2.20. It is slowly moving towards the $ 2.10 level. The first key support is near the $ 2.05 level. A clear break below the $ 2.05 support may potentially increase the chances of further losses below the $ 2.00 level.

Litecoin (LTC) failed to break through the resistance of 188 USD. It corrects gains and is trading near the $ 180 level. On the downside, the $ 175 level is immediate support, below which the price may even test $ 165. On the upside, the $ 200 level is still a major hurdle for bulls.

Dogecoin (DOGE) outperformed bitcoin and tested resistance at $ 0.350. Currently, DOGE is correcting its gains and trading below the $ 0.330 level. The first key support is near $ 0.320, below which the price could test $ 0.300.

The price of XRP climbed above the $ 1.30 level before starting a downward correction. It traded below $ 1.25 and tested $ 1.20. If there are further losses, the price might test $ 1.12. The next major support is near the $ 1.05 level.

Other altcoins market today

Many altcoins rose over 10% including AUDIO, SOL, FTM, NEAR, LUNA, DOT, KSM, HT, RUNE, SHIB, and EGLD. Of these, AUDIO rose over 100% and broke resistance at $ 3.00.

Overall, the price of bitcoin corrects gains from the $ 48,000 resistance. If BTC breaks above the support levels of $ 45,500 and $ 45,000, it could prolong its decline ._____

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