Bitcoin and Ethereum Correct, Altcoins Follow


  • Bitcoin price is correcting gains below USD 65,000.
  • Ethereum traded below the USD 4,650 support, XRP is testing USD 1.20.
  • IOTX extended its rally above the USD 0.22 level.

Bitcoin price failed to stay above the USD 66,500 support level. BTC extended decline below the USD 65,500 support level and is currently (04:20 UTC) trading below USD 65,000. There is a risk of a move towards USD 63,200.

Besides, most major altcoins are also moving lower. ETH started a downside correction below USD 4,650 and even spiked below USD 4,500 before recovering. XRP is now trading near the USD 1.20 support. ADA is down 5%, moving towards USD 2.00.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a failure to clear USD 67,000, bitcoin price started a downside correction below USD 66,000. BTC corrected lower below the USD 66,500 and USD 65,000 support levels. On the downside, an initial support is near the USD 64,000 level. The next key support is near the USD 63,200 level, below which the price might test USD 62,500.

On the upside, the price is facing resistance near USD 65,000. The next major resistance is now forming near the USD 66,000 level, above which the price might start a steady increase.

Ethereum price

Ethereum price also followed bitcoin and traded below the USD 4,650 support. ETH even spiked below USD 4,500 before recovering a few points. If there is another decline, the bulls might appear near USD 4,550. The next key support is near USD 4,500 below which the price might test USD 4,400.


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