Bitcoin, Ethereum, and Altcoins cut earnings

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Bitcoin’s price did not stay above the $ 48,000 support and continued its decline. BTC tested the $ 47,600 region and stayed above the $ 47,500 support. It is currently consolidating (04:00 UTC) near $ 48,000, with major resistance near $ 48,800.

Likewise, most of the major altcoins have prolonged their decline. ETH traded below the support levels of 3,250 and 3,200 USD. XRP broke the $ 1.20 support and it even tested $ 1.12. The ADA peaked near $ 2.92 and corrected lower to $ 2.60.

Total market capitalization

Source: www.tradingview.com Bitcoin price

After trading below $ 49,000, the price of bitcoin continued its downward correction. BTC traded below the $ 48,200 and $ 48,000 levels. It traded near the $ 47,500 support and is now attempting a rally. It moved back above $ 48,000, with key resistance near $ 48,800. The next key resistance is $ 49,000, above which the price may retest $ 50,000.

If there is a further drop below $ 48,000, the price could potentially test the $ 47,500 support. Any further loss could drive the price towards the level of 46,400 USD.

Ethereum price

The price of Ethereum has started to fall steadily below the pivotal level of $ 3,300. ETH traded below the support levels of 3,250 and 3,200 USD. He tested the level of $ 3,150. Current price action suggests that the price may continue to move lower towards the $ 3,120 support.

On the upside, immediate resistance for the bulls is near the $ 3,220 level. The first major resistance is near the $ 3,250 level, above which the price could test $ 3,300.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) failed to test the resistance at $ 3.00 and hit a high near $ 2.92. ADA has initiated a downward correction below the $ 2.80 support. It even went below $ 2.60 before recovering. To start a further rise, the price must break through the resistance of 2.80 USD.

Litecoin (LTC) extended its downward correction below the support level of $ 180. The price broke through the $ 175 level and tested $ 172. Any further loss could lead it to 165 USD. On the upside, bears are expected to remain active near $ 180 and $ 185.

Dogecoin (DOGE) is down more than 7% and has broken through the support zone of $ 0.300. He even tested the $ 0.275 level and showed some bearish signs. If the bears stay in action, the price could even drop to the $ 0.250 support. To get back into a bullish zone, the bulls need to break through the $ 0.300 hurdle.

The price of XRP is also down more than 7% and it has broken through the key support level of $ 1.20. The bears pushed the price below $ 1.15 and the price tested $ 1.12. The next major support is near $ 1.05, below which the bulls could appear near the $ 1.00 handle.

Other altcoins market today

Many altcoins are down 5% including CHSB, TEL, ONT, XDC, HNT, THETA, ENJ, SOL, KCS, SUSHI, ICX, QTUM, ICP, COMP and MIOTA. Of these, CHSB is down 12% and trading below 1.0.

Overall, the price of bitcoin has managed to stay above $ 47,500. If BTC extends its decline below $ 47,500, it could even test $ 46,400 in the short term ._____

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