Bitcoin and Ethereum Slip on Russian Nuclear Show Off, FIL, AR, and UNI Rally
- Bitcoin price dropped below the USD 38,000 level.
- Ethereum tested USD 2,600, XRP is below USD 0.75.
- FIL, AR, and UNI are up around 10%.
Bitcoin price gained pace for a move above the 38,500 resistance zone. BTC attempted an upside break above USD 39,500 and USD 40,000 but corrected lower as Russia’s president Vladimir Putin put Russia's nuclear deterrent on high alert on Sunday in the face of a barrage of Western reprisals for his war on Ukraine.
BTC is currently (04:30 UTC) down 2% and is trading near USD 37,900 and it might remain well bid above the USD 37,200 support zone.
Similarly, most major altcoins are correcting gains. ETH spiked above USD 2,700 and is currently consolidating near USD 2,600, having dropped almost 4% in a day. XRP is stable above USD 0.70 and facing resistance near USD 0.75. ADA is showing positive signs above USD 0.865.
Total market capitalization
After a strong upward move, bitcoin price faced sellers near USD 39,500 and USD 40,000 levels. It started a downside correction and traded below USD 38,500. It is now holding gains above the USD 37,500 support zone. The next key support is near the USD 37,200 level, below which the price may perhaps decline to USD 36,500.
On the upside, the price is facing resistance near the USD 38,500 level. The main weekly resistance is near the USD 40,000 level, above which the price might gain bullish momentum.
Ethereum price also gained pace for a move above the USD 2,750 resistance. ETH spiked above USD 2,800, but there was no move towards USD 3,000. The price is now consolidating near the USD 2,600 level. The next key support is near the USD 2,550 zone, below which the price might test USD 2,420.
On the upside, the price is facing resistance near the USD 2,650 level. The next key resistance is near the USD 2,750 zone, above which the price may perhaps test USD 2,880.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) spiked above the USD 0.90 resistance level. However, it failed to continue higher above USD 0.92. It is now consolidating gains and might make another attempt to clear the USD 0.92 resistance zone.
BNB is facing a strong resistance near the USD 380 level. It is now stuck near the USD 360 level. The main breakdown support is near USD 350, where the bulls might continue to take a stand.
Solana (SOL) is consolidating near the USD 85 support level. If there is a fresh decline, the price might test USD 78 or even USD 75. On the upside, the USD 92 level is a major hurdle, above which the bulls might aim a move above the USD 100 level.
DOGE is stuck below the USD 0.132 and USD 0.135 resistance levels. A clear move above the USD 0.135 level might start a stronger upward move in the coming sessions.
XRP price struggled to clear the USD 0.75 resistance zone. It is now consolidating near USD 0.72. The main support is near USD 0.70, below which the price might test USD 0.668.
Other altcoins market today
A few altcoins are up over 5%, including UNI, FIL, FLOW, AR, CELO, and RVN. Out of these, UNI rallied 10% and traded above the USD 9.70 level, while FIL cleared the USD 20 level, and AR neared USD 30.
Overall, bitcoin price is consolidating below the USD 38,500 and USD 38,800 resistance levels. If BTC clears USD 38,800, it could rise towards the USD 40,000 hurdle.