Yesterday we discussed a couple of important levels of bitcoin support near $ 3,700 and $ 3,620. BTC / USD struggled to gain bullish momentum, resulting in a fall below USD 3.60 support. The price has even eliminated the $ 3,600 support and moved into a bearish zone. Likewise, the price of the ether failed to remain above the supports of USD 125 and USD 120. The ETH / USD is under pressure below USD 120 and may continue to fall. Also the price of the ripple and other altcoins have been traded on the downside and currently (UTC 06:40 AM) report further decreases.
Total market capitalization
There was no upward move in bitcoin prices above $ 3,850 and $ 3,900 in resistance. BTC / USD started a bearish move and traded below the support level of USD 3,700. He clarified the path for sellers to take control and the price fell under the key support USD 3,620.
The price is currently declining by more than 3% and is trading below the level of USD 3,700. Initial support is USD 3,480, below which there is a risk of a downward extension to USD 3,300.
The price of Ethereum broke major stocks near the levels of USD 125 and USD 120. The ETH / USD recently declined by over 10% and even broke the support of USD 115.
If the price continues to fall, there may be more losses below the USD 110 support. The next major support is at USD 106 and USD 105. On the upside, there is solid resistance near the level of USD 120, which was crucial support.
Price in cash and Bitcoin ripple
Bitcoin's cash price started a big downtrend and broke the USD 160 and USD 150 media. BCH / USD could continue to fall and could test the support level of USD 130 or USD 125. BCHSV also declined by nearly 10% and broke the supports of USD 90 and USD 85. Going forward, there are chances for a USD 75 support test before the price starts a new upward move.
The ripple price fell sharply below the $ 0.3500 support to enter a bearish zone. The XRP / USD may continue to fall towards support levels of USD 0.330 and 0.325.
Other altcoin markets today
During the recent bearish wave, many small capitalization altcoins have declined by more than 10%, including XET, PAY, QASH, QTUM, NPXS, PPT, BTCP, ONT and ETC. Of these, XET decreased by over 70% and PAY fell by around 16%.
Overall, the bitcoin price may continue to fall to USD 3,400, below which there is a risk of heavy downturns. To recover, BTC / USD must exceed resistance levels of USD 3,750 and USD 3,800. Likewise, the price of ether needs to cancel resistance levels of USD 120 and USD 125 to avoid a significant downtrend in the short term.