- Bitcoin price is facing resistance near USD 39,200.
- Ethereum is still well below USD 3,000, XRP is consolidating near USD 0.62.
- TRX and FTM are the two best performers today.
Bitcoin price extended its decline below the USD 38,200 level but it found support near USD 37,500 and move higher again. BTC is currently (04:09 UTC) trading above USD 38,700 and is up almost 2% in a day and is down 2% in a week. On the upside, the bears might remain active near USD 39,200 and USD 39,500.
Similarly, most major altcoins are trading below key hurdles. ETH settled below the USD 2,920 pivot level. XRP declined below USD 0.60 before it recovered to USD 0.62. ADA settled below the key USD 0.80 support zone.
Total market capitalization
Bitcoin price
After a downside break below USD 39,200, bitcoin price gained bearish momentum. BTC even tested USD 37,500 before there was a recovery wave. The price is now trading above USD 38,700 while an immediate resistance is near the USD 39,000 level. The first major resistance might be USD 39,200, above which the price might rise towards USD 40,000.
On the downside, an initial support is near the 38,200 level. The next major support is near USD 37,600, below which the price might start a fresh drop.
Ethereum price
Ethereum price also extended its decline below the USD 2,850 support zone. It even tested the USD 2,750 level. The price is correcting losses and facing resistance near USD 2,850. ETH is up over 2% in a day and down almost 3% in a week. The first major resistance is near the USD 2,920 level, above which the price could rise towards the USD 3,000 resistance.
On the downside, an immediate support is near the USD 2,800 level. The next major support is near the USD 2,750 level, below which the price might gain bearish momentum.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) settled below the USD 0.80 level and tested the USD 0.75 zone. It is now correcting losses and facing resistance near USD 0.80. The next key resistance is near the USD 0.832 level, above which the price could rise to the USD 0.85 resistance zone.
BNB extended losses and tested the USD 380 support level. The bulls are now attempting a fresh increase, but the bears might remain active near USD 398 and USD 400.
Solana (SOL) failed to clear the USD 100 and USD 102 resistance levels. There was a bearish reaction below the USD 92 level. On the downside, the next major support is near the 85 level.
DOGE extended its decline below the USD 0.132 support and tested the USD 0.128 level before recovering to USD 0.132 again. On the upside, the price may perhaps face resistance near the USD 0.135 level.
XRP price declined below the USD 0.62 and USD 0.60 support levels. It tested USD 0.58 and is currently attempting a recovery wave. On the upside, the bears might remain active near the USD 0.65 and USD 0.665 levels.
Other altcoins market today
A few altcoins are up over 5%, including LUNA, SHIB, NEAR, TRX, FTM ALGO, VET, SAND, THETA, CAKE, and RUNE. Out of these, TRX and FTM are the two best performers among the top 100 cryptoassets by market capitalization today. TRX jumped 12% and surpassed USD 0.070, increasing its weekly gains to almost 9%. FTM rallied 16%, surpassed USD 0.79, and trimmed its weekly losses to less than 27%.
Overall, bitcoin price is struggling below the USD 39,200 and USD 39,500 levels. If BTC fails to recover above USD 40,000 in the nearest time, this would increase the risk of a drop to USD 35,000.
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Source: Cryptonews
