14 Mar 2022 · 2 min read

Bitcoin and Ethereum Stuck in a Range, LUNA Inches Higher

 

  • Bitcoin price is struggling to recover above USD 39,000 and USD 40,000.
  • Ethereum is still below USD 2,600, XRP is down over 3%.
  • AVAX, DOT, and MATIC are down around 3%, while Luna gained 3%.

Bitcoin price attempted an upside correction above USD 39,000. However, BTC failed to clear the USD 39,500 resistance zone and is currently (04:22 UTC) trading near USD 38,600.

Similarly, most major altcoins are trading in a bearish zone. ETH is still at risk of extending losses below USD 2,500 and USD 2,440. XRP must stay above USD 0.72 to avoid more losses. ADA is testing the USD 0.80 pivot level.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a minor upside correction, bitcoin price faced sellers near the USD 39,500 level. BTC failed to continue higher and started a fresh decline below USD 39,000. It even broke the USD 38,000 level before recovering. The next key support is near the USD 37,250 level, below which the price may perhaps gain bearish momentum. In this scenario, the bears might test USD 36,000.

On the upside, the price might face resistance near the USD 38,800 level. The main weekly resistance is still near the USD 40,000 zone, above which the price might test USD 42,500.

Ethereum price

Ethereum price is struggling to clear the USD 2,600 and USD 2,620 levels. It is now consolidating above the USD 2,500 support level. The next key support is near the USD 2,440 level, below which the price might decline to USD 2,320. Any more losses might call for a move to USD 2,250.

If there is a fresh increase, the price could face resistance near USD 2,620. The weekly resistance is now forming near the USD 2,750 level. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is testing the USD 0.80 support zone. The next major support is near USD 0.765, below which the price could dive to USD 0.72.

BNB moved lower below the USD 365 support. The next major support is USD 355, below which the price might slide to USD 350. If there is a fresh increase, the price could face resistance near USD 380.

Solana (SOL) is testing the USD 80 level. If the bears remain in action, the price might decline towards the USD 72 level. Conversely, there could be a recovery wave towards the USD 88 resistance.

DOGE declined and tested the USD 0.110 level. If the bears remain in action, the price might even test the USD 0.105 level. Any more losses may perhaps send the price towards the USD 0.100 level.

XRP price is consolidating above the USD 0.75 pivot zone. If there is a downside break, the price might decline towards the USD 0.72 zone. On the upside, the bears could remain active near USD 0.80.

Other altcoins market today

Many altcoins are down over 3%, including AVAX, DOT, ATOM, LTC, NEAR, LINK, UNI, BCH, ALGO, XLM, MANA, XMR, and SAND. Meanwhile, LUNA jumped 3% and reached USD 90, increasing its weekly gains to 14%.

Overall, bitcoin price is showing bearish signs below USD 39,500. If BTC breaks the USD 37,200 support zone, the bears could test the USD 35,000 level in the near term.

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