04 Mar 2022 · 2 min read

Bitcoin and Ethereum Keep Trimming Gains, OKB and WAVES Inch Higher

 

  • Bitcoin price is down 5% to USD 41,400.
  • Ethereum declined 6%, dropping below USD 2,750, XRP broke the USD 0.75 support.
  • Many altcoins are down over 5%, while OKB and WAVES extended their gains.

Bitcoin price failed to stay in the positive zone above USD 43,200 and traded below the USD 42,000 support. It is currently (04:18 UTC) down almost 5% and is showing bearish signs below USD 41,500.

Similarly, most major altcoins are in the red zone. ETH is down 6% and there was a break below USD 2,750. XRP dropped almost 6%, while ADA declined below the key USD 0.90 support zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a bearish reaction, bitcoin price failed to stay above the USD 43,200 and USD 42,500 support levels. BTC started a fresh decline and traded below the USD 42,000 support. It tested the USD 41,000 zone and is now consolidating losses near USD 41,400. An immediate support is near the USD 41,050 level. The next key support is near the USD 40,000 level, below which the price may perhaps gain bearish momentum.

On the upside, the price is facing resistance near the USD 42,000 level. The next key resistance is near the USD 42,550 level, above which the price might start a stronger increase.

Ethereum price

Ethereum price gained bearish momentum below the USD 2,880 support zone and is now approaching the USD 2,700 support zone. The next key support is near the USD 2,650 level, below which the price might dive to USD 2,500.

On the upside, the price is facing resistance near the USD 2,800 level. The next major hurdle could be near the previous support zone at USD 2,850.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) traded below the USD 0.92 and USD 0.90 support levels. The price is showing bearish signs below USD 0.88. If the bears remain in action, the price might decline below USD 0.85.

BNB is down3% and there was a clear move below the USD 400 support level. The price is now trading near the USD 388 support level. Any more losses might send the price towards the USD 365 level.

Solana (SOL) declined 8% and there was a move below the USD 95 support. The price is now approaching USD 90. The next major support is near USD 85, below which the price might test the USD 80 level.

DOGE is trading below the USD 0.1265 support. If there is a close below USD 0.120, the price might even decline to USD 0.120. On the upside, the bears might remain active near USD 0.130 and USD 0.132.

XRP price traded below the USD 0.75 support level. It is now holding the USD 0.72 support. If there is a downside break, the price may perhaps drop to USD 0.70.

Other altcoins market today

Many altcoins are down over 5%, including AVAX, DOT, SHIB, WBTC, CRO, UNI, FTT, ALGO, MANA, XLM, SAND, and XMR. Meanwhile, OKB and WAVES extended their gains, jumping around 10% and trading near USD 20.

Overall, bitcoin price is moving lower towards the USD 40,000 support. If BTC fails to stay above USD 40,000, there is a risk of a larger decline.

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