Bitcoin Price Revisits $20K, Ethereum and SOL Drop To Support

• Bitcoin price declined nearly 10% and retested USD 20,000.
• Ethereum declined to USD 1,550, XRP corrected lower and tested USD 0.331.
• LUNC is up over 8%, and KNC is showing signs of a fresh increase.

Bitcoin price failed to stay above the USD 22,500 resistance zone. BTC declined nearly 10% and is currently (03:30 UTC) consolidating losses. If the price stays above USD 20,000, it could start a fresh increase.

Similarly, most major altcoins are declined and tested key supports. ETH declined over 5% and tested the USD 1,550 support. XRP declined below USD 0.35 and USD 0.34. ADA settled below the USD 0.50 pivot level.

Bitcoin price

After a steady increase, bitcoin price struggled to stay above the USD 22,500 level. BTC formed a short-term top and reacted sharply below USD 22,000. The price declined nearly 5% and traded below the USD 20,500 support. It tested the USD 20,000 and is currently consolidating losses. On the upside, the price might struggle near USD 20,500. The next major resistance is now near the USD 21,200 level, above which the price could start a fresh increase.

On the downside, an initial support is near the USD 20,120 level. The next major support is near the USD 20,000 zone, below which the price could accelerate lower.

Ethereum price

Ethereum price also started a downside correction after it failed to test the USD 1,800 level. ETH declined below the USD 1,700 and USD 1,650 levels. It even spiked below USD 1,600 and tested USD 1,550. The next major support is USD 1,500, below which price could revisit USD 1,420.

If the price starts a fresh increase, it might face resistance near USD 1,650. The next major resistance is near USD 1,700, above which the price may perhaps test USD 1,740.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) struggled to clear the USD 0.52 resistance zone. There was a sharp decline below the USD 0.50 and USD 0.48 levels. If the bears remain in action, the price might test USD 0.45.

BNB failed to clear the USD 300 resistance zone. The price declined 5% and traded below the USD 282 support. Any more losses might send the price towards USD 272.

Solana (SOL) trimmed most gains and traded below the USD 35 level. It is down 10% and trading near the USD 33.50 level. The next major support sits near the USD 32 level.

DOGE failed to test the USD 0.065 resistance. The price declined below the USD 0.0612 level. It is now consolidating near USD 0.0600, below which the bears may perhaps aim USD 0.0565.

XRP price declined below the USD 0.35 and USD 0.34 levels. If there are more losses, the price could slide and test the USD 0.32 support.

Other altcoins market today

Many altcoins are down over 8%, including HNT, GRT, NEAR, FLOW, XMR, EOS, AVAX, CELO, GNO, GMT, and ATOM. Out of these, HNT is down over 12% and trading below USD 4.75.

Overall, bitcoin price declined sharply and revisited the USD 20,000 support. If BTC fails to stay above USD 20,000, it could spark another sharp decline.

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