Bitcoin and altcoins Struggle to reach old highs

The price of bitcoin is falling and it is likely to test $9,200 or $9,050. Ethereum is correcting below $190 and Ripple has returned below $0.300. DxChain Token (DX) and XTZ have increased by more than 25% today.

Total market capitalization

After a failed upside attempt near $9,500 resistance, bitcoin started a new downward move. BTC/USD was traded below the levels of $9,400 and $9,350. Currently, it is declining and could test the $9,200 or $9,050.

Similarly, the altcoins have struggled to continue the upside and correct for profit-taking, including Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, BSV, ADA and XLM.

ETH/USD has returned below the level of $190 and could soon test the support area of $185. XRP/USD is also decreasing after it failed to stay above the key pivot level of $0.300. Overall, the cryptocurrency market is struggling to continue to rise and remains at risk of a downward reaction.

Bitcoin price

In recent hours, the bitcoin price has fallen steadily below the level of $9,400. BTC/USD broke the support of $9,320 and is now trading close to $9,250. Immediate support is around the level of $9,200, below which the price is likely to extend its decline to the levels of $9,050 and $9,000.

On the positive side, the price is facing obstacles close to levels of $9,350 and $9,400. A successful closing above the $9,400 level is necessary to allow publishers to gain strength in the short term.

Ethereum price

Ethereum passed close to the resistance of $195 and started a new decline. ETH/USD corrects below $192 and $190. The price is trading close to the support of $188 and it looks like it could test the support area of $185.If a new increase occurs, the price could revisit the resistance of $195. The main upward resistance is close to the $200 barrier.

Bitcoin Cash, EOS, and XRP

Bitcoin cash failed to stay above the level of $300 and started another downward correction. BCH/USD fell about 3% and is likely to continue to fall to support levels of $285 and $280. On the positive side, the main resistances are close to the $305 level.

EOS exceeded close to the level of $3,700 and recently corrected below the level of $3,600. The price is approaching the support of $3,500, below which the support area of $3,350 may be revisited. To continue upwards, publishers need to gain a higher rate than the $3,650 and $3,700 levels.

XRP pushed towards the resistance of $0.315, but it turned out to be a false break. XRP/USD decreased again and broke some key supports close to the levels of $0.302 and $0.300. If there are other negative aspects, the price could test the support area of $0.295 in the short term.

Other altcoin markets today

In the last three sessions, some small-cap altcoins rose by more than 10%, including DX, XTZ, DCR, and SXP. In contrast, CHZ, ABBC, OMG, CRPT, REP, XLM, NANO, and KMD are down more than 5%.

To sum up, there are some bearish signs that are emerging for bitcoins below the $9,400 hurdle. If BTC/USD fails to stay above the support levels of $9,220 and $9,200, there is a risk of further losses in upcoming sessions.

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(Featured image by David McBee via Pexels)

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