11 Feb 2022 · 2 min read

Bitcoin, Ethereum and Major Altcoins Trim Gains, THETA and SLP Rally

 

  • Bitcoin price topped just above USD 45,500 and corrected lower.
  • Ethereum declined almost 4%, XRP broke the USD 0.85 support.
  • THETA and SLP rallied over 21%.

Bitcoin price climbed above the USD 45,500 resistance level. However, BTC failed to continue higher and started a fresh decline below USD 44,000. It is currently (04:17 UTC) trading near USD 43,200, with a bearish angle.

Similarly, most major altcoins also declined. ETH traded below the USD 3,120 support level. XRP dropped below the key USD 0.85 support zone. ADA is approaching the USD 1.12 support.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a decent move above USD 45,000, bitcoin price even climbed above USD 45,500 but failed to stay above this zone. As a result, there was a fresh bearish reaction below USD 44,000. The price declined below the USD 43,500 level, while an immediate support is near the USD 43,000 level. The next key support is near the USD 42,750 level, below which the price might decline stronger.

On the upside, an initial resistance is near USD 43,800. The next major resistance is near the USD 44,000 level, above which the price might revisit USD 45,500.

Ethereum price

Ethereum price failed again to stay above the USD 3,250 level. It declined below USD 3,100 and might continue to move down towards the USD 3,020 support. The next major support is near USD 3,000, below which the price could slide to USD 2,950.

If there is another increase, the price might face resistance near USD 3,120. The next key resistance could be near the USD 3,200 zone. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) declined below the USD 1.15 support level. It is now approaching the USD 1.12 support zone. If there are additional losses, the bears might test the USD 1.05 support.

Binance coin (BNB) is back below USD 420 and trading near the USD 412 support. If the bears remain in action, the price could decline below the USD 400 support. The next major support is near the USD 380 level.

Solana (SOL) is down 6% and approaching the USD 102 support. If there is a downside break below USD 102 and USD 100, the price might decline stronger. In this case, it could test the USD 85 support.

DOGE is again consolidating near the USD 0.150 level. If there is a downside break below USD 0.150, the price could decline to USD 0.132. Conversely, it might rise towards the USD 0.175 resistance.

XRP price failed again to clear the USD 0.920 resistance. There was a fresh bearish reaction and this time the price even traded below the USD 0.85 support. The next major support is near USD 0.82.

Other altcoins market today

Many altcoins are down over 5%, including LUNA, DOT, SHIB, MATIC, ATOM, LINK, NEAR, UNI, ALGO, LEO, and FTM. Conversely, THETA rallied 21% and broke the USD 4.00 resistance, increasing its weekly gains to 45%. SLP is up 23% in a day and 232% in a week, surpassing the USD 0.036 level.

Overall, bitcoin price is struggling below USD 44,000. If BTC slides below USD 42,500, there could be more downsides towards USD 41,250 or even USD 40,000.

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