Bitcoin and Altcoins Remain Supported On Dips

Recently, there was a downside correction in bitcoin below the USD 9,250 support area. BTC/USD tested the USD 9,000 support area and it is currently (08:00 UTC) consolidating losses. If the price breaks the USD 9,000 support, it could correct further towards USD 8,850 or USD 8,700.

Similarly, many major altcoins are correcting lower and approaching key supports, including ethereum, EOS, bitcoin cash, ripple, litecoin, binance coin, ADA, TRX, and XLM. ETH/USD declined below the USD 185 support and it is currently holding the USD 180 support. XRP/USD is still struggling to break the USD 0.300 resistance, but trading above the USD 0.292 support.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After a close below USD 9,400, bitcoin price extended its downside correction and traded below USD 9,250. BTC/USD even traded below the USD 9,150 support and tested the USD 9,000 level. The price is currently consolidating above the USD 9,000 support and it could either climb higher or extend its decline.
On the upside, an initial resistance is near the USD 9,250 level. A clear break above the USD 9,250 resistance might set the pace for more gains above the USD 9,350 level. If not, the price could test the USD 8,850 and USD 8,700 support levels.

Ethereum price

Ethereum price started a fresh downside correction below the USD 188 and USD 185 support levels. ETH/USD tested the USD 180 support and it is currently consolidating. If there are more losses, the price could test the USD 175 support.
On the upside, the previous supports such as USD 185 and USD 188 might act as hurdles. However, a clear break above USD 190 is needed for a fresh increase.

Bitcoin cash, eos and XRP price

Bitcoin cash price is trading above the USD 280 support level. However, it seems like BCH/USD could extend its decline and trade towards the USD 265 support level. On the upside, there are a few important resistances near the USD 295 and USD 300 levels.
EOS is currently…

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