Bitcoin and Ethereum Reverse Gains, TRX and DCR Rally
- Bitcoin price failed below USD 43,200 and trimmed gains.
- Ethereum is testing USD 3,000, XRP broke the USD 0.75 support.
- TRX and DCR are the best performers today.
Bitcoin price broke the USD 42,500 level, but it failed to surpass USD 43,200. There was a sharp bearish wave and the price is currently (04:05 UTC) trading near USD 40,500. BTC is down almost 3% in a day, trimming its weekly gains to less than 2%.
Similarly, most major altcoins reversed gains. ETH declined below the USD 3,050 support zone. XRP broke the USD 0.75 support to move into a bearish zone. ADA is approaching the USD 0.90 support zone.
Total market capitalization
After a move above USD 42,500, bitcoin price faced selling interest. BTC topped near the USD 43,000 level and stayed below the USD 43,200 resistance. There was a sharp bearish wave and the price declined below the USD 41,000 level. The next major support is near USD 39,500, below which the price might gain bearish momentum.
An immediate resistance on the upside is near the USD 41,200 level. The next key resistance could be USD 41,500, above which the price may perhaps start another increase.
Ethereum price was able to surpass the USD 3,150 resistance, but faced sellers near USD 3,180. ETH started a fresh decline below the USD 3,100 level. It even traded below USD 3,050 and is struggling to stay above the USD 3,000 support. ETH dropped over 3% in a day and almost 1% in a week. The next major support is near the USD 2,950 level.
On the upside, the USD 3,050 level might present resistance. The next key resistance might be near the USD 3,120 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to clear the USD 0.98 resistance zone. There was a drop below the USD 0.95 level and the price now approaching the main USD 0.90 support zone.
BNB struggled to settle above the USD 425 resistance level. The bears gained strength and pushed the price below the USD 412 level. If they remain in action, there is a risk of a move towards the USD 400 support.
Solana (SOL) again failed to clear the USD 110 resistance zone. It is moving lower and testing the USD 102 support. The main support on the downside is still near the USD 100 level.
DOGE declined below the USD 0.140 support zone. It is approaching the USD 0.135 support. Any more losses might lead the price towards the USD 0.132 support or even USD 0.130.
XRP price failed to stay above the key USD 0.750 support. It is down almost 3% and might test the USD 0.72 support zone. Any more losses might put the main USD 0.70 support at risk in the near term.
Other altcoins market today
Many altcoins are in the red zone, including LUNA, AVAX, DOT, NEAR, CRO, LTC, ATOM, UNI, APE, ALGO, ETC, FIL, and EGLD. Out of these, APE declined 11% and traded below the USD 14 level. Meanwhile, TRX and DCR are the best two performers among the top 100 cryptoassets by market capitalization today. TRX jumped 7% and surpassed USD 0.067, increasing its weekly gains to 12%. DCR rallied 16% in a day and 30% in a week, surpassing the USD 71 level.
Overall, bitcoin price reversed gains from the USD 43,000 zone. If BTC fails to stay above the USD 40,000 level, there is a risk of a trend change in the coming sessions.