Bitcoin and Ethereum decline during the Polkadot and Solana rallies

Bitcoin price made another attempt to break the $ 48,000 resistance. The bulls did not gain strength, however, causing it to fall below $ 47,000. BTC has even traded below $ 46,500 and is currently (04:00 UTC) showing some bearish signs.

Likewise, most large altcoins correct profits. ETH hit its high near $ 3,325 on two occasions and began a downward correction. XRP failed to top $ 1.30 and corrected down to $ 1.20. On the flip side, DOT rebounded over 15% and broke the USD 25 resistance.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After another rejection near $ 48,000, Bitcoin price began a downward correction. BTC corrected below $ 47,000 and $ 46,500. It even retested the support level of $ 45,500. The bulls are now protecting additional losses with an immediate resistance at $ 47,000. The main resistance is still at $ 48,000, above which the price could start a strong rally.

Initial downside support is at $ 46,000. The first major support is now forming near the USD 45,500 level. Further losses could potentially lead the price towards $ 44,200.

Ethereum price

Ethereum price also followed a similar pattern, declining from the resistance zone of $ 3,325. ETH broke the USD 3,200 support but the bulls are protecting the USD 3,110 support. Should they fail in the short term, there is a risk of further decline towards the USD 3,000 support.

On the downside, the price is facing a breakout zone near the $ 3,245 level. The main resistance is still near the $ 3,325 level, followed by $ 3,350.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) hit near the USD 2.20 resistance. It is slowly moving down towards the USD 2.10 level. The first major support is near the USD 2.05 level. A sharp break below the USD 2.05 support could potentially increase the likelihood of further losses below the USD 2.00 level.

Litecoin (LTC) failed to break the USD 188 resistance. It corrects gains and trades near the $ 180 mark. On the flip side, the $ 175 level is an instant support below which the price could test as much as $ 165. On the flip side, the $ 200 level is still a major hurdle for the bulls.

Dogecoin (DOGE) outperformed Bitcoin and tested the $ 0.350 resistance. Currently, DOGE is correcting gains and trading below the $ 0.330 level. The first major support is near $ 0.320, below which the price could test $ 0.300.

The XRP price surged above the $ 1.30 mark before a downward correction set in. It traded below $ 1.25 and tested $ 1.20. On additional losses, the price could test $ 1.12. The next big support is seen near the USD 1.05 level.

Different Altcoins Market Today

Many altcoins are up over 10% including AUDIO, SOL, FTM, NEAR, LUNA, DOT, KSM, HT, RUNE, SHIB and EGLD. Of these, AUDIO rebounded over 100% and broke the USD 3.00 resistance.

Overall, Bitcoin price corrects gains from the $ 48,000 resistance. If BTC breaks the $ 45,500 and $ 45,000 support levels, it could prolong its decline.
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Bitcoin and Ethereum decline during Polkadot and Solana Rally 102

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