Cryptocurrency Market July 9 by cryptonew: Bitcoin price began to decline from the resistance at USD 35,000. BTC traded near $ 33,000 under several key supports. Currently (04:36 UTC) it is consolidating above the $ 32,000 support, below which it may decline to $ 30,000.
Similarly, most of the big altcoins are gaining declining momentum. ETH broke the USD 2,150 support before recovering. XRP also crashed, climbing below $ 0.60.
After the bearish reaction at $ 35,000, Bitcoin price started falling again. BTC has broken the USD 33,500 and USD 33,000 support levels. The price is currently consolidating above the $ 32,000 zone and attempting to move above the $ 33,000 mark where it could encounter resistance near the $ 33,200 mark. The first major hurdle is currently forming near the $ 34,000 mark.
If the bears break the $ 32,000 support, the price could accelerate towards the $ 30,000 support area.
Ethereum price extended its decline below the USD 2,150 support area. ETH even got below $ 2,080 and tested the $ 2,050 region. The price is currently recovering and trading above the $ 2,100 level. The first major resistance is near the $ 2,150 mark.
On the downside, the initial support is close to the $ 2,080 level. Key support is at $ 2,050, below which the price could test $ 2,000 in the upcoming sessions.
Cardano (ADA) is down 4% to trade below $ 1.35. Immediate support is near the $ 1.30 mark. If it closes below $ 1.30, the price could accelerate down towards $ 1.25. On the flip side, the bears could stay active near the $ 1,365 mark.
Litecoin (LTC) extended its decline below the $ 130 mark. LTC even tested the $ 125 support. On further losses, the bears can attempt to test the $ 112 mark. Conversely, another move towards the $ 140 mark is possible.
Dogecoin (DOGE) is down more than 5% and is currently trading below $ 0.212. The price even climbed below $ 0.200. It looks like a move towards the USD 0.180 support is likely in the near future.
XRP price plunged below $ 0.620 and even rose below the $ 0.600 support. If the current trend stays intact, it is likely to drop to $ 0.565. Otherwise, the price could bounce towards $ 0.632 in the short term.
Many altcoins are down more than 8%, including MANA, AXS, ENJ, CHZ, SC, WAVES, RUNE, DCR, THETA, SOL and ICP. Of that, MANA fell more than 20% and even broke the USD 0.65 support. Meanwhile, LEO, ZRX and LUN are up 6% to 11%.
Overall, Bitcoin price is showing signs of falling below the $ 33,200 and $ 33,500 levels. If BTC drops below $ 32,000, it could drop to $ 30,000 in the short term.
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