03 Mar 2022 · 2 min read

Bitcoin and Ethereum Continue to Fail Near Highs, ATOM and ZEC Jump

 

  • Bitcoin price is still struggling to clear the USD 45,000 resistance.
  • Ethereum struggled near USD 3,050, XRP is still below USD 0.80.
  • ATOM and ZEC are up around 6%.

Bitcoin price attempted an upside break above the USD 45,000 resistance. BTC spiked above USD 45,200, but it faced sellers near USD 45,350 and is now down 2% in a day. It is currently (04:17 UTC) trading below USD 43,500, with a key support at USD 43,000.

Similarly, most major altcoins are also facing resistance. ETH is struggling to gain momentum above USD 3,020 and is down almost 4%. XRP failed near USD 0.80 and corrected lower. ADA traded below USD 0.95 and tested USD 0.92.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a move above USD 45,000, bitcoin price faced resistance near USD 45,350. BTC failed to stay above USD 45,000 and corrected lower. There was a move below the USD 44,200 and USD 44,000 levels. An immediate support is near the USD 43,200 level. The next key support is near the USD 43,000 level, below which the price may perhaps decline to USD 42,500.

On the upside, the price is facing resistance near the USD 44,200 level. The key hurdle is still near the USD 45,000 level, above which the price might start a stronger increase.

Ethereum price

Ethereum price attempted a close above USD 3,000, but failed. ETH faced sellers near USD 3,040 and USD 3,050. It is now trading below USD 3,000 and consolidating. On the downside, an initial support is near the USD 2,900 level. The next key support is near the USD 2,850 level, below which the price might dive to USD 2,750.

On the upside, the price must settle above the USD 3,000 resistance to gain momentum. The next pivot level could be near the USD 3,050 level.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) started a downside correction and traded below the USD 0.95 support. It is now struggling to stay above USD 0.92. If there is a downside break, the bears might even push the price below USD 0.90.

BNB is consolidating gains above the USD 400 level. An immediate resistance is near the USD 412 level. The key resistance is still USD 425, above which the price might accelerate higher.

Solana (SOL) tested the USD 105 level, where sellers appeared. The price corrected lower and traded below USD 100. The next major support is near USD 95, below which the price might test the USD 88 level.

DOGE failed to clear the USD 0.142 resistance. There was a bearish reaction below the USD 0.135 level. If the bears remain in action, the price could decline below the USD 0.130 support.

XRP price traded below the USD 0.78 support level. It is now holding the USD 0.75 support. If there is a downside break, the price may perhaps drop to USD 0.712.

Other altcoins market today

A few altcoins are up over 4%, including ATOM, FTM, ZEC, CRV, ANC, and ROSE. Out of these, ANC rallied 19% and traded above the USD 4.5 level. Meanwhile, ATOM and ZEC jumped around 6%, hitting USD 33 and USD 126, respectively. ATOM is now also up 31% in a week, while ZEC extended its gains to 29%.

Overall, bitcoin price is still struggling to clear the main resistance at USD 45,000. If BTC fails to stay above USD 43,000, it could start a stronger downside correction in the near term.

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