Recent price actions indicate that buyers are losing their stance under $18,500, and a drop below the $18,000 level could lead to a further price drop towards $17,650.
However, if the price goes beyond the $18,300 level, it will likely face some resistance. The initial resistance close to the $18,500 level, and the significant resistance could close at the $18,800 level.
Major Signals
- BTC began dipped below the $18,500 support, trading near the $18,000 level.
- ETH witnessed a loss of about 7% and went below the $550 support
- XRP also dropped below $0.585.
ETH also dropped heavily under the $585 and $580 support levels. The price even went below the $565 buy wall sliding further below $550. Further losses could lead to a continuous decline to $520. ETH/USD pair is likely to face some resistance close to $560 and $565.
LTC also experienced a steady decline after a proper close below the $80.00 support. LTC recorded a loss of about 10%, and it is sliding towards the $75.00 support. The next critical support close to $72.00.
XRP also failed to remain beyond the $0.600 support and dropped sharply. There was a proper close below the $0.585 support trading under $0.565. it is currently trading close to $0.550, and a further decline towards the $0.532 and $0.520 levels seem inevitable.
What do you think about the current price of BTC and Altcoins? Let’s discuss this in the comment section.
