Bitcoin and Ethereum Bears Dominate, Major Altcoins Struggle
Bitcoin price attempted an upside break above USD 39,500, but failed. BTC started another decline below the USD 39,000 level and is currently (11:44 UTC) trading near USD 38,700.
Similarly, most major altcoins are struggling to climb higher. ETH failed above USD 2,570 and remains at a risk of more downsides. XRP might decline sharply if it clears the USD 0.75 support. ADA is struggling to stay above the USD 0.78 support.
Total market capitalization
After another failed attempt above USD 39,500, bitcoin price started another decline and is now down almost 1% in a day. The next key support is near the USD 38,000 level, below which the price may perhaps retest USD 37,550. If the bulls fail to protect this level, there might be a move below the USD 37,200 support.
On the upside, an immediate resistance at USD 39,000. The next key resistance is still near the USD 39,500 zone, above which the price might rise to USD 40,000.
Ethereum price failed to surpass the USD 2,600 resistance zone. ETH started a fresh decline and traded below the USD 2,550 level. The next key support is near the USD 2,500 level, below which the bears might aim for a larger decline.
Conversely, the price might rise and revisit the USD 2,600 resistance zone. The next resistance is near the USD 2,650 level. A clear move above USD 2,650 may perhaps open the doors for a move to USD 2,750.
Cardano (ADA) is still struggling to clear the USD 0.82 resistance. It traded below USD 0.80 and there could be a move below USD 0.78. If the bears succeed, the price might decline towards the USD 0.75 level.
BNB is consolidating near the USD 365 level. An immediate resistance is near USD 370. The first major resistance is near the USD 375 level, above which the price might climb
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