Bitcoin and Ethereum Still Bearish, ADA Corrects Gains
- Bitcoin price is showing bearish signs below USD 42,500.
- Ethereum extended decline below USD 3,200, XRP traded below the USD 0.75 support.
- UNI is holding gains above the USD 17 pivot level.
Bitcoin price failed to start a recovery above USD 43,000. BTC extended decline below the USD 42,000 and USD 41,900 levels. It is currently (11:59 UTC) consolidating, with a major hurdle near USD 43,000.
Similarly, most major altcoins are showing bearish signs. ETH extended losses below the USD 3,150 support zone, before rising to USD 3,170. XRP traded below the key USD 0.75 support zone. ADA trimmed gains and traded below USD 1.52.
Total market capitalization
Bitcoin price
In the past three sessions, bitcoin price saw bearish moves below USD 43,000. BTC declined below the USD 42,500 and USD 42,000 support levels. If the bears remain in action, the price might slide towards the USD 41,200 level. The next key support is near the USD 40,500 level, below which there is a risk of a move to USD 39,500.
On the upside, bitcoin is facing resistance near the USD 42,500 level. The next major resistance is near USD 43,000, above which the price might start a solid recovery.
Ethereum price
Ethereum price extended drop below the USD 3,200 support level. ETH even spiked below USD 3,150 and tested USD 3,120. On the upside, an immediate resistance is near USD 3,220. The next key resistance is near USD 3,250, above which the price might gain bullish momentum.
An initial support is near the USD 3,120 level. Any additional losses could push the price towards the USD 3,000 handle in the near term.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) rallied above the USD 1.60 level before sellers appeared. It started a fresh decline below the USD 1.55 and USD 1.52 levels. It is now consolidating near USD 1.48, with a major support at USD 1.45.
Binance coin (BNB) is down 3% and trading well below the USD 475 level. An immediate support is near the USD 455 level. The next major support is near USD 450. A close below USD 450 might put a lot of pressure on the bulls.
Solana (SOL) declined 3% and there was a move below the USD 142 support. It is now approaching the USD 130 support level, below which the price may dive towards USD 120.
Dogecoin (DOGE) settled below the USD 0.170 support level. It is now consolidating above the USD 0.162 support. If there is a downside break below USD 0.162, the price might decline towards the USD 0.150 level.
XRP price broke the key USD 0.75 support level. The next major support is near the USD 0.72 level. If there is a downside break below USD 0.72, the price could continue to move down. In that case, the price may possibly test USD 0.65.
Other altcoins market today
Many altcoins are down over 5%, including LUNA, DOT, MATIC, LINK, LTC, ATOM, and FTM. Out of these, FTM is down 10%.
To sum up, bitcoin price is struggling to recover above the USD 43,000 level. If BTC continues to move down, the bulls might even struggle to protect the USD 40,000 support.
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