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Bitcoin’s price has continued to fall below the crucial USD 57,000 support mark. The bulls were active around USD 55,500, but BTC broke the USD 56,200 support. It is currently consolidating above USD 56,000 and facing numerous obstacles near USD 57,000 and USD 57,200.
Similarly, the majority of big altcoins remain in the red. Before the bulls appeared near USD 1,940, ETH broke the USD 2,000 support.
Bitcoin’s price continued to fall after a clear break below USD 57,000. BTC fell as low as USD 56,200, but the bulls were able to hold the USD 55,500 support zone. The price has recovered and is currently trading around USD 56,000. Near the USD 57,000 mark, there is some initial resistance. Near the USD 57,200 mark, the main resistance for a steady increase is forming.
The USD 56,000 level is a short-term support on the downside. The key support is now near USD 55,500, and the bears can gain strength below this level.
Ethereum’s price followed bitcoin’s lead and broke through the main USD 2,000 support level. ETH is currently correcting higher after trading near the USD 1,930 support. While there was a break above USD 1,980, the bulls face numerous obstacles. Near USD 2,020 is the first major resistance, followed by USD 2,050.
USD 1,950 and USD 1,940 are good support levels on the downside. Any more losses could push the price below USD 1,900.
