Bitcoin and Ethereum Bears Dominate, Major Altcoins Struggle
- Bitcoin price is struggling to return above USD 39,000.
- Ethereum moves lower towards USD 2,500, XRP might trade below USD 0.75.
- EGLD and RUNE are up over 8%.
Bitcoin price attempted an upside break above USD 39,500, but failed. BTC started another decline below the USD 39,000 level and is currently (11:44 UTC) trading near USD 38,700.
Similarly, most major altcoins are struggling to climb higher. ETH failed above USD 2,570 and remains at a risk of more downsides. XRP might decline sharply if it clears the USD 0.75 support. ADA is struggling to stay above the USD 0.78 support.
Total market capitalization
Bitcoin price
After another failed attempt above USD 39,500, bitcoin price started another decline and is now down almost 1% in a day. The next key support is near the USD 38,000 level, below which the price may perhaps retest USD 37,550. If the bulls fail to protect this level, there might be a move below the USD 37,200 support.
On the upside, an immediate resistance at USD 39,000. The next key resistance is still near the USD 39,500 zone, above which the price might rise to USD 40,000.
Ethereum price
Ethereum price failed to surpass the USD 2,600 resistance zone. ETH started a fresh decline and traded below the USD 2,550 level. The next key support is near the USD 2,500 level, below which the bears might aim for a larger decline.
Conversely, the price might rise and revisit the USD 2,600 resistance zone. The next resistance is near the USD 2,650 level. A clear move above USD 2,650 may perhaps open the doors for a move to USD 2,750.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is still struggling to clear the USD 0.82 resistance. It traded below USD 0.80 and there could be a move below USD 0.78. If the bears succeed, the price might decline towards the USD 0.75 level.
BNB is consolidating near the USD 365 level. An immediate resistance is near USD 370. The first major resistance is near the USD 375 level, above which the price might climb to USD 385.
Solana (SOL) is consolidating near the USD 80 level. If there is a proper close below USD 80, the price might accelerate lower. The next major support is near the USD 72 level.
DOGE remains at a risk of a larger decline below the USD 0.110 support. The next major support is near the USD 0.105 level, below which the bulls might struggle to protect USD 0.105.
XRP price is moving lower and struggling to stay above USD 0.75. If there is a clear downside break, the price could decline to USD 0.72. The next major support is near the USD 0.70 level.
Other altcoins market today
Many altcoins are in the red zone, including LUNA, AVAX, DOT, SHIB, MATIC, UNI, ICP, WAVES, THETA, FTM, ZEC, and STX. Conversely, RUNE gained over 12% and surpassed the USD 7.8 level, increasing its weekly gains to almost 83%. EGLD is now up almost 16% in a week after it jumped 8% in a day and moved above USD 154.
To sum up, bitcoin price failed to clear the USD 39,500 and USD 40,000 resistance levels and is now at risk of more downsides if it fails to reach USD 40,000 in the near term.
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