Bitcoin and Ethereum Struggle to Recover, SHIB Trims Gains
- Bitcoin price is struggling to recover above USD 40,500.
- Ethereum is hovering below USD 3,050, XRP is holding near USD 0.70.
- SHIB is still in the green zone, while most altcoins are struggling.
Bitcoin price attempted a recovery wave above the USD 40,500 level. However, BTC struggled to gain strength for a clear move. It is currently (11:51 UTC) trading near USD 39,900 and remains at risk of more downsides below USD 39,500.
Similarly, most major altcoins are struggling to start a steady recovery. ETH failed near USD 3,080 and might decline below USD 3,000. XRP is struggling to stay above the USD 0.70 level. ADA is still consolidating near the USD 0.95 level.
Total market capitalization
Bitcoin price
Recently, bitcoin price corrected higher above the USD 40,500 level. However, BTC struggled to continue higher and trimmed gains. There was a move below the USD 40,200 level and it seems like the price may perhaps revisit the USD 39,500 support zone. The next major support is near USD 39,200, below which the price could start a stronger decline. BTC is now down 1% in a day and 12% in a week.
On the upside, an immediate resistance is near the USD 40,500 level. The next key resistance is near the USD 41,200 level, above which the price could start a steady increase.
Ethereum price
Ethereum price made an attempt to test the USD 3,100 level. However, ETH struggled above USD 3,080. As a result, there was a minor bearish reaction below USD 3,050. If the bears remain in action, the price might slide below the USD 3,000 level. The next major support is near the USD 2,950 level, where the bulls may possibly appear. ETH is unchanged in a day and is down 11% in a week.
On the upside, the price is facing resistance near USD 3,100. The next key resistance might be near the USD 3,120 level, above which the price could rise to USD 3,150.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is still trading above the USD 0.92 support level. It is now consolidating near USD 0.95. The first key resistance is near the USD 0.98 level, followed by the USD 1.0 zone.
BNB attempted an upside break above the USD 420 resistance. The bulls struggled and the price is now moving lower. However, BNB is still up more than 1% in a day and is the best performer among the top 10 cryptoassets. The first major support for BNB is near USD 412, below which it could test USD 405.
Solana (SOL) failed to stay above the USD 105 pivot level. It is now moving lower towards the USD 100 support level. Any more losses below USD 100 could increase selling pressure.
DOGE struggled to clear the USD 0.145 resistance level. It is back below USD 0.140 and might soon test USD 0.135. Any more losses could send the price to USD 0.132.
XRP price is consolidating above the USD 0.70 level. If there is no move above USD 0.732, the price could slide below the USD 0.70 support zone in the near term.
Other altcoins market today
Many altcoins are in the red zone, including NEAR, XMR, WAVES, GMT, RUNE, HNT, MKR, QNT, MINA, and AR. Out of these, WAVES declined 11% and traded below USD 22. Meanwhile, SHIB, the best performer among the top 100 cryptoassets by market capitalization today, trimmed its daily gains, correcting from USD 0.0000276 to USD 0.0000265. It’s still up 7% in a day and 2% in a week.
To sum up, bitcoin price is showing bearish signs below USD 41,000. If BTC fails to stay above USD 39,500, there is a risk of a sharper decline.
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