Bitcoin price fell and dragged altcoins lower

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Bitcoin price gained momentum above the $33,500 resistance level, but it failed to stay above USD 34,500 and fell. Bitcoin started a new decline and traded below the $33,500 pivot level. It is currently trading at $31,600 and it remains at a risk of more downsides.
Also, bitcoin’s weakness dragged most leading altcoins lower. ETH/USD fell over 8% and it even tested the USD 1,300 level. XRP/USD is gaining bearish momentum and it is struggling to stay above USD 0.265.

Bitcoin price

After a move above USD 34,200, bitcoin price failed to hit the USD 35,000 resistance level and fell. BTC topped near the USD 34,750 level and recently started a fresh decline. It broke the USD 33,500 and USD 32,500 support levels. There was also a break below the USD 32,000 level. The next key support is near USD 31,200, below which the price might decline towards the USD 30,500 level.
On the upside, the USD 33,500 level might act as a major resistance again. A close above USD 33,500 may possibly rise the chances of a fresh run towards USD 35,000.

Ethereum price

Ethereum price followed bitcoin and it dropped over 8%. ETH broke the USD 1,380 and USD 1,350 support levels. There was also a spike below USD 1,300 and the price is currently consolidating above USD 1,300. On the upside, an initial resistance is near USD 1,350. The first key resistance is near USD 1,380, above which ETH could rally towards USD 1,450.
Conversely, a close below the USD 1,300 support zone might call for an extended drop towards the USD 1,250 and USD 1,240 support levels.

Bitcoin cash, litecoin and XRP price

Bitcoin cash price fell over 5% and it broke the USD 450 support level. BCH tested the USD 425 support and it is now consolidating losses. If there is a new increase, the price might see hurdles near USD 445 and USD 450. On the downside, a break below USD 425 could lead the price towards the USD 405 support.
Litecoin (LTC) could not stay above the USD 142 and USD 140 support levels. LTC even spiked below USD 135, but it stayed above USD 132. If there are more losses, the price might revisit the USD 125 support zone. Conversely, the bulls might see a strong selling interest near the USD 142 level.
XRP price is gaining bearish momentum and it is struggling to stay above the USD 0.265 support. The next key support is at USD 0.255. A daily close below USD 0.255 may possibly spark a strong decline in the coming days.

Other altcoins market today

Many altcoins declined over 8%, including SUSHI, COMP, SNX, NEAR, BAT, IOST, GRT, RSR, KSM, UMA, and YFI. Out of these, SUSHI is down 15% and it is trading below the USD 8.00 support level. At the same time, DCR, ZEN, and ERD are up more than 15%-40%.

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