Today, bitcoin price remained in a negative zone below the $33,500 level and even broke the $32K level before making a slow recovery of its losses.

At press time, data from CoinGecko puts the crypto’s unit price at $32,979 apiece and has lost almost 19% of its value for the past week. Experts predict that if it could climb above the $33,500, it might encounter resistance near the $35K mark.

Ethereum is not doing any better, as it broke the $2,000 support level, testing the $1,850 level zone. At the time of writing, the top altcoin is trading at $1,971, losing almost 24% of its value for the past seven days.

Dogecoin suffers heavily

Among the top “bitcoin alternatives,” dogecoin was hit the hardest following a massive sell-off last night that saw almost $1 billion crypto positions liquidated.

Currently, the meme cryptocurrency is changing hands at $0.1735 and witnessed a massive 38% decline in its value for the past seven weeks. For the past 24 hours alone, its price dropped by 22.5%.

CoinGecko still puts the joke altcoin as the 8th largest cryptocurrency by market capitalization which currently stands at $26.4 billion.

Major altcoins also see red

Other digital currencies that suffered the effects of the sell-off include XRP which remains in a bearish zone and even fell below the $0.60 support level. At press time, it is trading at $0.63 after mounting some sort of recovery.

Binance Coin and Cardano (ADA) also recorded significant losses on their respective prices, which stand at $288.99 and $1.23, respectively.

Polkadot is also staring at a double-digit percentage loss of its value which is at $16.47 at the moment. Litecoin lost 11% for the past 24 hours to come in at $130.22.

Image courtesy of Cointelegraph News/YouTube

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Source: https://bitcoinerx.com/blockchain/bitcoin-and-ethereum-try-to-recover-dogecoin-suffers-heavy-loss/