Bitcoin, Ethereum and Altcoins Show Bearish Signs

  • 01 July 2021, Thursday, 13:00

Bitcoin price extended its decline below the USD 34,000 support level. BTC even traded below USD 33,500, opening the doors for more losses. It is currently (12:29 PM UTC) struggling to recover and there could be more downsides towards USD 32,200.

Similarly, most major altcoins are moving lower. ETH failed to stay above USD 2,150 and it might extend losses. XRP/USD is showing bearish signs and it could decline below the USD 0.65 support.

Total market capitalization

Bitcoin price

Recently, bitcoin price failed to stay above the USD 35,000 support zone. BTC even struggled to stay above USD 34,000. The price is now showing bearish signs and it could continue to move down below USD 33,000. The next key support is near the USD 32,200 level. Any more losses may possibly call for a move towards the USD 30,500 level. If there is a fresh increase, an initial resistance is near the USD 34,000 zone. The first major resistance is now forming near USD 35,000.

Ethereum price

Ethereum price gained pace above USD 2,200, but it failed to hold gains. ETH started a fresh decline and it traded below USD 2,150. If the bears remain in action, the price could test USD 2,050. The next major support on the downside is near the USD 2,000 level. On the upside, the price is facing resistance near the USD 2,200 level. The main breakout resistance is now forming near the USD 2,250 level.

BNB, LTC, DOGE, and XRP price

Binance Coin (BNB) is now trading below the USD 292 support. BNB seems to be approaching the USD 280 support level. If there are more losses, the price could decline towards the USD 265 level. On the upside, the price could struggle near USD 292, above which it could rise towards the main USD 300 resistance. Litecoin (LTC) is down 4% and it tested the USD 135 support zone. If LTC extends losses, it could test the USD 125 level. Conversely, the price could start a fresh increase above the USD 142 level. The key barrier for the bulls is still near the USD 150 level. Dogecoin (DOGE) is consolidating below the USD 0.250 support. It could continue to move down towards the USD 0.220 support level. Any more losses might call for a test of the USD 0.200 level. To start a fresh increase, the price must gain pace above the USD 0.255 and USD 0.265 levels. XRP price failed to stay above the USD 0.675 support. It is now approaching the USD 0.650 support. A clear break below USD 0.650 might open the doors for a move towards the USD 0.620 level. An immediate resistance is near USD 0.678, above which the price might rise towards USD 0.700.

Other altcoins market today

Many altcoins declined over 5%, including UMA, WAVES, ETC, NEXO, CELO, RUNE, BTG, QNT, QTUM, ICP, FIL, TFUEL, GRT, LUNA, and NEO. Conversely, XDC, MKR, and COMP are up over 9%.

To sum up, bitcoin price trimmed most gains from the USD 36,500 resistance. If BTC fails to stay above USD 32,200, there is a risk of a fresh drop to USD 30,000. __

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