Bitcoin and Ethereum Trend Negative, BNB Shines
Bitcoin price accelerated lower below the USD 23,200 support. BTC traded below the USD 22,000 support zone and tested USD 21,000. It is currently (04:00 UTC) consolidating losses and facing many hurdles near USD 22,000.
Similarly, most major altcoins are back in a bearish zone. ETH dived below the USD 1,750 and USD 1,650 support levels. XRP tested the USD 0.335 support zone. ADA is consolidating above the USD 0.45 support.
Total market capitalization
After a sharp decline below the USD 22,500 support, the bitcoin price moved into a bearish zone. BTC traded below the USD 22,000 and USD 21,500 support levels. It tested the USD 21,000 zone and is currently correcting losses. On the upside, the price is facing resistance near the USD 21,650 level. The next resistance is near the USD 22,000 level. The main weekly resistance is now near USD 23,000, above which the price might start a fresh increase.
An immediate support is near the USD 21,200 level. The next major support is near the USD 21,000 zone, below which the price could resume its downtrend.
Ethereum price also gained bearish momentum below the USD 1,750 level. ETH even traded below the USD 1,600 support and tested USD 1,550. It is correcting losses and trading above USD 1,600. On the upside, the price could face resistance near the USD 1,650 level. The next key resistance is near the USD 1,720 level, above which the price could rise steadily.
On the downside, initial support is near USD 1,580. The next major support is USD 1,550, below which the price could dive towards USD 1,500.
Cardano (ADA) gained bearish momentum below the USD 0.50 support zone. The price tested the USD 0.45 support zone and started a consolidation phase.
BNB remained well bid above the USD 275 support
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