Bitcoin Below USD 29K, Ethereum Dives More, LUNA, Altcoins Crash

cryptonews.com:

Bitcoin price started another decline and traded below the key USD 30,000 support. BTC even broke the USD 28,500 support to move further into a bearish zone. It is currently (03:58 UTC) down 8% and is trading near USD 28,700. BTC is also down 28% in a week.

Similarly, most major altcoins are down over 15%. ETH declined below USD 2,200 and tested USD 2,000. XRP declined 25% and tested USD 0.365. ADA is also down 26% and trading below USD 0.50.

Total market capitalization

After a failed attempt near USD 32,000, bitcoin price started a major decline. BTC traded below the USD 30,000 support zone to spark another bearish wave. There was a clear move below the USD 29,500 and USD 28,500 levels. It is now trading below USD 29,000, with an immediate support at USD 28,000. The next major support is near the USD 27,500 level, below which the price could test USD 25,000.

An immediate resistance is near the USD 29,500 level. The next key resistance is now forming near the USD 30,000 level. 

Ethereum price also started a major decline from the USD 2,450 resistance. ETH declined 15% and broke the USD 2,120 support. It even tested the USD 2,000 level and is still showing bearish signs. The next major support is near the USD 1,880 level, below which the price might test USD 1,750. ETH is down 31% in a week.

On the upside, ETH may perhaps face resistance near the USD 2,120 level. The next major resistance is now forming near USD 2,200.

Cardano (ADA) accelerated losses below the USD 0.60 support. It declined almost 26% and even broke the USD 0.50 support. If the bears remain in action, the price might dive towards the USD 0.42 support.

BNB declined heavily below the USD 288 and USD 280 support levels. It is now approaching the USD 250 support