Bitcoin price fails to break above the $38,000 key resistance area, bitcoin starts a new dip below the $36,500 and $35,500 support levels, however, as in several previous sharp sell-offs, altcoins are bleeding once more. Other coins are more than Bitcoin, Ethereum is down about 10%, while many other coins are down even more.
Ethereum traded below the $3,650 and $3,550 support levels, and Ripple fell more than 11% and even fell below $0.850.
Meanwhile, in the past 12 hours, more than $900 million of trading positions in the crypto derivatives market have been liquidated, and nearly $400 million of those were in bitcoin, according to Bybt data, and the price of Ethereum has also fallen by about 10%. It broke the $2,650 support, and Ethereum even broke below the key $2,550 support level.
It rose towards $2,420 and is currently recovering, on the upside, there is an initial resistance near the $2,550 level, the major resistance is at $2,650, and above it the price may turn positive, if not, there are chances for more Of the losses below the $2,450 and $2,420 support levels, the next major support is near the $2,340 level.
