After struggling near $52,000, bitcoin price started a fresh decline. BTC gained bearish momentum below the $48,822 support level and the 21 simple moving average (H1).
The price even declined below the $48,000 level. The bulls are now attempting to protect the $47,000 support zone. Bitcoin is recovering and facing resistance near $47,500. There is also a major bearish trend line with resistance near $47,500 on the hourly chart.
A clear break above $47,500 might start a decent increase. If not, the price could continue to move down below the $47,000 level in the near term.Advertisement
Ether also started a major decline from well above the $4,000 level. There was a clear move below the $3,885 support zone. The price even traded below the $3,800 level and the 21 simple moving average (H1).
It traded close to the $3,700 level and is currently consolidating losses. On the upside, there is a major hurdle forming near the $3,800 level. There is also a key bearish trend line forming with resistance near $3,800 level on the hourly chart. The next key barrier is $3,885, above which the price could revisit the main $4,000 resistance.
SOL tried to settle above the $200 resistance zone. However, the bulls failed, and the price started a fresh decline. There was a break below a key bullish trend line with support near $190 on the 4-hours chart.
There was a close below the $185 level and the 21 simple moving average (H4). The bears pushed the price below the 50% Fib retracement level of the upward move from the $149 swing low to $207 high.
The price is now reaching near the $170 support zone. The 61.8% Fib retracement level of the upward move from the $149 swing low to $207 high is also near the $170 zone. A downside break below $170 could push SOL towards the $155 support zone.
ADA, BNB, and DOT price
Cardano (ADA) started a major decline below the $1.40 support level. The price is down 10% and is trading below the $1.38 level. If there is a downside break below $1.35, the price could dive towards the $1.30 level.
Binance Coin (BNB) is struggling to stay above the $530 level. An immediate support is near the $525 level. A clear move below the $525 level may perhaps push the price towards $500.
Polkadot (DOT) struggled to stay above the $30.00 zone. The price is moving lower and trading near the $28.00 level. If there is a downside break below $28.00, the price might continue to decline. The next major support is near the $26.50 levels.
A few trending coins are LPT, ROSE, and LEO. Out of these LPT is up 5% and there was a clear move above the USD 42 level.