Bitcoin is more stable than Altcoins
The $ 28,500 support did not last long for Bitcoin. The price of bitcoin even dropped to $ 27,500; But with a short uptrend, it was able to come up a bit higher again. Currently, the price is stabilizing in the range of $ 29,000, so that the price has decreased by 3% compared to yesterday and 4% compared to last week.
To Report Cryptonews, the main market coins, also had a downward trend, with the difference that unlike bitcoins, their prices did not recover the same amount. Atrium continues to trade below the $ 1,800 level, down 9%. XRP may even drop to $ 0.365. Cardano also tested $ 0.455, down 9 percent.
Bitcoin prices
Shortly after Bitcoin failed to break the $ 30,000 resistance, its price began to decline. The decline continued until the $ 29,000 support was broken and even the price dropped to $ 27,500. However, the price, with good acceleration, offset part of this decline. Currently, the price is struggling with the resistance of $ 29,000, so if it breaks, it will go to the resistance of $ 29,500. If these resistances are broken, bitcoin can be expected to reach higher price levels.
If we want to look at the downtrend scenario, we need to know that there is a strong support at $ 28,500. The next key support is at the level of $ 28,000, which if this support is broken, the price will be able to decrease to $ 27,500.
Atrium price
Atrium support in the $ 1,850 area was easily broken and the price dropped to $ 1,725. The price is currently around $ 1,770, which is 9% less than the previous day and 12% lower than the previous week.
If the atrium trend is bullish, the first resistance will occur in the $ 1,800 area. The next major resistance will appear at $ 1,850, and if this resistance is broken, the price will increase steadily.
The price of Altcoins
Cardano lost $ 950, down 9%, and then $ 0.48. If the downtrend continues, the $ 0.45 support will be the next destination.
BNB is on a downward trend and is currently trading below $ 305. The price of this digital currency is reduced by 8% and tries to close above $ 300. If the price closes below $ 300, the price may continue to reach the level of $ 288.
The price of Solana has dropped by 12% and is currently trading well below $ 45. The first support for the Solana price chart is above the $ 40 level. If the $ 40 support is broken, the price could reach $ 38.
Dodge Quinn broke support at $ 0.080 and the price even dropped to $ 0.078. If the bear market succeeds or agrees to lower prices, the $ 0.075 support may be broken.
The price of XRP also fell below $ 0.40, which was partially offset by the decline. The key support for this digital currency is in the $ 0.365 range, which could drop to $ 0.35 if it breaks.
Many market coins have lost more than 8% of their value; Only Olench, meanwhile, catches the eye with a 17 percent drop. The price of the Olench is currently below $ 23 in the market.
Also read: Bloomberg: 2022 years of bitcoin and gold
Summary: Bitcoin below $ 29,500 looks like it will continue to decline. Now, if the price falls below $ 28,500, we should expect a further price reduction.