Bitcoin and Ethereum Still Range-Bound, ADA Keeps Diving, FTT Rallies
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- Bitcoin price is facing a major hurdle near USD 42,500.
- Ethereum is trading well below USD 3,200, XRP is facing resistance near USD 0.75.
- ADA declined 7% and trimmed most of its weekly gains.
Bitcoin price remained in a bearish zone below the USD 42,000 level. BTC even traded close to USD 41,000 before correcting higher. It is currently (04:18 UTC) trading near USD 42,000, but there is a crucial resistance forming near USD 42,500.
Similarly, most major altcoins are facing hurdles. ETH must clear USD 3,200 to start a steady recovery. XRP stayed above the USD 0.72 support level. ADA is facing an increase in selling pressure below USD 1.40.
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Bitcoin price
After a break below USD 42,000, bitcoin price extended decline. BTC even traded below the USD 41,200 zone, but downsides were limited. It is now recovering and trading above near USD 42,000. An immediate resistance is near the USD 42,200 level. The next major resistance is near USD 42,500, above which the price might start a steady increase.
On the downside, an initial support is near the USD 41,250 level. The next major support is near USD 40,500, below which there is a risk of more losses.
Ethereum price
Ethereum price also briefly declined below the USD 3,100 level. ETH tested USD 3,050 and recovered higher. On the upside, an immediate resistance is near USD 3,180. The next key resistance is near USD 3,200, above which the price might start a stronger upward move.
An initial support is near the USD 3,050 level. The main support is near USD 3,000, below which the bears might aim for a larger decline.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) trimmed most of its gains and settled below the USD 1.40 level. It is down 7% and trading near USD 1.35, trimming its weekly gains to less than 4%. ADA is now down 16% from its weekly high of 1.61. The next major support is near USD 1.32. Any more losses could send the price towards USD 1.265.
Binance coin (BNB) is attempting an upside break above the USD 472 resistance level. If the bulls succeed, the price could rise towards the USD 500 level. Conversely, there could be a drop towards the USD 450 support.
Solana (SOL) settled below the USD 140 zone. An immediate support is near the USD 132 level. A downside break below the USD 132 level might start a drop towards the USD 125 level. On the upside, the USD 140 zone presents a major resistance.
DOGE is moving lower towards the USD 0.160 level. The next major support is near the USD 0.150 level. If there is a fresh increase, the price could face resistance near the USD 0.175 level.
XRP price is consolidating below the USD 0.75 level. On the downside, the USD 0.720 level is a strong support, below which the price could decline further. Conversely, the bulls may perhaps attempt an upside break above the USD 0.75 resistance.
Other altcoins market today
A few altcoins are down over 4%, including NEAR, LINK, UNI, ALGO, FTM, ICP, MANA, VET, ETC, SAND, and XTZ. Conversely, FTT rallied over 8% and there was a move above USD 47, increasing its weekly gains to almost 16%.
Overall, bitcoin price is showing bearish signs below the USD 42,500 level. To start a stronger recovery wave, the bulls need to clear the USD 42,500 resistance zone.
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