Bitcoin price is struggling to gain momentum above $30,000 and is still holding the $29,000 support. A downside break below $29,000 could start a strong decline. BTC fell 2% in a day and 3% in a week. Similarly, most of the major altcoins are struggling to start a fresh increase. ETH could gain bearish momentum if it trades below $1,980. XRP could decline below the $0.40 level and ADA might test the $0.52 support.

Many altcoins are showing negative signs, including DOT, AVAX, SHIB, NEAR, FTT, LINK, ATOM, MANA, ICP, FIL and MKR. Meanwhile, some altcoins such as LEO, TRX, ZEC, LTC, and WAVES rose 1%-4%, while CHZ rose 13% in one day.

Below $29K Could Bring Stronger Drops

Bitcoin price has remained in a broad band above the $29,000 region over the past few sessions. BTC is facing a key hurdle near the $30,500 level. The next key resistance is near the $31,200 and $31,500 levels, above which the price could gain momentum. In this case, the price could rise towards the $32,200 resistance area. The closest support on the downside is near the $29,200 level. The next major support is near the $29,000 level, below which the price could start a stronger decline.

Nearest Resistance to Up is $2,080

Ethereum price is facing a challenge above the $2,050 level. If there is a downside reaction, the bulls may attempt to defend the $2,000 and $1,980 support levels. A downside break and close below $1,980 could start a sharp decline. ETH is down about 3% in a day and 13% in a week. The closest resistance on the upside is still near the $2,080 level. The main breakout zone for a steady increase is currently forming around the $2,120 level.