Yesterday, bitcoin price moved into a bearish zone below the USD 6,400 support level. BTC/USD is currently consolidating above the USD 6,300 level, but there are a lot of bearish signs visible on lower timeframe charts. Equally, ethereum is trading below the USD 200 support with a negative bias, which could spark a fresh decline towards the USD 180 level.
Major altcoins like dash, bitcoin cash, neo and litecoin are struggling to recover. They are trading near yearly lows and remain at a risk of more losses. LTC/USD is currently trading well below the Oct 31, 2017 low of USD 56.00 and just above the US 47.80 yearly low. It seems like litecoin could decline further to trade to a new yearly low below USD 47.00 if it continues to struggle.
Similarly, dash, neo and bitcoin cash are down and trading well below levels seen one year ago on Oct 31, 2017. More importantly, if sellers remain in action, these coins could accelerate declines and trade to a new 2018 low in the near term.
After yesterday’s decline bitcoin price found support near the USD 6,300 level and later started consolidating losses. BTC/USD is currently trading above the USD 6,330 level with an immediate resistance at USD 6,345.
Ethereum price is currently consolidating losses below the USD 200 level. ETH/USD seems to be preparing for the next decline if buyers fail to push the price back above the USD 200 and USD 202 resistance levels.