Bitcoin, Ethereum Struggle To Hold Key Holders, Altcoins Slide Down

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Bitcoin’s price failed to stay in positive territory above the $ 45,500 support. BTC is slowly falling and currently (11:45 UTC) is struggling to stay above $ 45,000. If it prolongs its decline below $ 45,000 and $ 44,500, there could be a steep decline towards $ 42,000.

Likewise, most of the major altcoins are dropping as well. ETH is struggling to stay above $ 3,000 and could even drop below $ 2,950. XRP is down 10% and is approaching the $ 1.05 support. ADA and BNB are also showing bearish momentum.

Total market capitalization

Source: www.tradingview.com Bitcoin price

After breaking down below $ 46,500, the price of bitcoin continued its decline. BTC is now struggling to stay above the support levels of $ 45,000 and $ 44,500. If there is a break down below $ 44,500, the price may eventually drop to $ 43,200. After that, the next major support is near the $ 42,000 level.

On the upside, initial resistance is near the $ 45,700 level. The first key resistance is now forming near the $ 46,500 level, above which the price may exceed $ 47,000.

Ethereum price

The price of Ethereum has settled below the support of $ 3,110. ETH is struggling to stay above $ 3,000 and it may continue to fall. The next major support is near $ 2,950, below which the price may accelerate lower to $ 2,800.

An immediate obstacle to the upside is near the $ 3,080 level. The next key breakout resistance is now forming near the $ 3,110 level.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) is down more than 6% and broke through the $ 2.00 support level. Immediate support is near the $ 1.95 level, below which the bulls may struggle. In the case indicated, the price could drop steadily towards the support area of ​​$ 1.80.

Litecoin (LTC) is down 10% and it broke through the $ 170 support zone. The price is approaching the support at 165 USD. A break down below $ 165 could set the tone for a larger decline. The next major support is at $ 155. Conversely, the price could recover towards the level of 175 USD.

Dogecoin (DOGE) is down more than 12% and it broke through the support zone of $ 0.300. The price is now struggling to stay above $ 0.280. The next major support is near the $ 0.265 level, where the bulls may emerge. On the upside, the previous support at $ 0.300 could serve as resistance.

The price of XRP is down 10% and it is trading below the $ 1.10 support. The price is approaching the support area of ​​$ 1.05. If there is a breakout down below the $ 1.00 support, XRP may accelerate to the downside. The next key support is near the $ 0.90 level.

Other altcoins market today

Many altcoins are down more than 10% including AUDIO, RUNE, LINK, GRT, FTM, COMP, AAVE, THETA, UNI, SUSHI, EOS, XEM, MATIC, SC and VET. Of these, LINK and RUNE are down 15%.

To sum up, the price of bitcoin is down 5% and it is struggling to stay above the support zone of $ 44,500. If BTC continues to fall, the price could even reach $ 42,000 ._____

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