Bitcoin and Ethereum Keep Moving Lower, NEO Inches Up
- Bitcoin price is nearing the USD 40,000 level.
- Ethereum dropped below USD 2,900, XRP extended losses too.
- NEO is trying to recover and gained almost 3%.
Bitcoin price gained bearish momentum below the USD 42,500 support zone and is currently (12:00 PM UTC) moving towards the USD 41,200, having dropped 7% in a day.
Similarly, most major altcoins are showing bearish signs. ETH is now trading well below the USD 3,000 pivot level and is down 6% in a day. XRP dropped below USD 0.780. ADA stayed above the key USD 1.00 support zone.
Total market capitalization
After a strong decline, bitcoin price found support near the USD 40,000 level. BTC started a minor recovery wave and corrected above USD 40,500 before moving down again.
The next key support is near the USD 40,000 level, below which the price might resume its slide.
Ethereum price found support near the USD 2,850 level and briefly moved above the USD 2,900 level.
There might be a fresh decline to the USD 2,850 support. The next support could be USD 2,780, below which the price might decline towards the USD 2,650 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) remained well bid above the USD 1.00 support zone. However, the bears might face a strong resistance near the USD 1.05 level. The next major resistance is at USD 1.08.
BNB is consolidating above the USD 400 support zone. An immediate resistance is near the USD 412 level, above which the price might rise to USD 420. Conversely, the price might decline towards the USD 400 level. If there are additional losses, the price could decline towards the USD 380 level.
Solana (SOL) settled below the USD 100 pivot level. The bulls must push the price back above USD 100 if they want to accelerate gains. If not, there is a risk of a move towards the USD 85 support zone.
DOGE is struggling below the USD 0.142 support level. If the bears remain in action, the price may possibly test USD 0.135. On the upside, the USD 0.145 level is a short-term resistance, followed by USD 0.148.
XRP price is showing bearish signs below the USD 0.80 support. An immediate support is near the USD 0.780 level, which is now being tested. The main support is now forming near the USD 0.75 level.
Other altcoins market today
Many altcoins are down over 5%, including AVAX, LUNA, DOT, SHIB, MATIC, CRO, WBTC, LTC, XLM, ICP, SAND, and EGLD. Conversely, NEO is up almost 3% and trading above the USD 25 level, increasing its weekly gains to 7%.
To sum up, bitcoin price is nearing the USD 40,000 level. If it manages to move higher, the bears could remain active near USD 41,200 or USD 42,000.