Lower correct Bitcoin and Ethereum, key supports nearby

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The price of Bitcoin could revisit the support area of ​​48,000 USD. Ethereum might find offers close to $ 4,200, XRP is struggling to stay above $ 0.80. XTZ is up over 25% and trading above $ 5.20.

The price of Bitcoin attempted a bullish breakout above $ 52,000 but failed. BTC started a further decline and traded below $ 50,500. It is currently (12:07 PM UTC) down to $ 49,000 and it could even test the key support area of ​​$ 48,000.

In addition, most of the major altcoins are also declining. ETH crossed nearly $ 4,420 and fell below $ 4,300. XRP could accelerate to the downside if it drops below $ 0.80. ADA could find support near the $ 1.30 level.

Total market capitalization

Source: tradingview.com Bitcoin price

After an unsuccessful attempt of nearly $ 52,000, the price of bitcoin began to fall again. BTC traded below the support levels of 51,200 and 50,500 USD. It even broke the $ 50,000 mark and is now down 4% in one day. Immediate support is around $ 49,000. The next major support is near the $ 48,000 level, below which the price may enter a bearish zone.

On the upside, the price might struggle to climb above $ 50,500. The main resistance is now forming around $ 53,200.

Ethereum price

The price of Ethereum also followed a similar trend after failing to break through the resistance of $ 4,420. ETH is down 3% and trading below the $ 4,300 support. It even climbed to $ 4,250. On the downside, initial support is near the $ 4,220 level. The next key support is near the $ 4,200 level, below which bears may strengthen.

On the upside, the bulls might struggle above $ 4,350. The next key barrier is now forming near the $ 4,400 level.

ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) is down 6% and trading near the support level of $ 1.355. If the ADA goes below $ 1.32, it could enter a negative zone. The next major support could be $ 1.30 or $ 1.288.

Binance coin (BNB) drops to support at $ 565. If the bears remain active, the price could move down towards the support of $ 550. Otherwise, there could be a move towards the $ 580 and $ 585 levels.

Solana (SOL) is down 8% and there was a break below $ 190. The price is now testing the support at 185 USD. If there is a breakout to the downside, the price may drop to the $ 175 level.

SHIB is also moving lower and trading below the $ 0.0000365 level. The next key support is near the $ 0.0000350 level. Further losses could perhaps drive the price towards the level of 0.0000335 USD.

XRP price struggled to stay above the $ 0.832 level. It goes down and is testing the $ 0.800 support. If there are more downsides, the price may drop to the level of $ 0.780. On the upside, price may face resistance near $ 0.835.

Other altcoins market today

Many altcoins are down over 8% including LRC, KDA, HNT, MANA, EGLD, BAT, LUNA, QNT, IOTX, GALA, NEXO, and SAND. Of these, KDA fell 16%, falling to $ 10.00. Meanwhile, EOS and XTZ are up 10% and 25% respectively. EOS is still down 10% in one week, while XTZ has cut its weekly losses to 5%.

In summary, the price of bitcoin drops below the $ 50,000 level. If BTC slips further, the key support of $ 48,000 could come into play in the coming sessions.

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