Bitcoin and Ethereum Face Strong Resistance, LUNA, ATOM Dive
Bitcoin price climbed above the USD 37,000 level but there was no upside continuation. BTC trimmed gains and traded below USD 36,500. It is currently (11:56 UTC) consolidating near this level.
Similarly, most major altcoins are consolidating below resistance. ETH failed to surpass the USD 2,500 resistance and moved lower. XRP could continue lower if there is a daily close below USD 0.580. ADA failed to clear the key USD 1.08 resistance zone.
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After another increase, bitcoin price was able to clear the USD 37,000 level. However, BTC struggled to clear the USD 37,500 resistance zone. As a result, there was a bearish reaction below USD 37,000. It is now consolidating near the USD 36,500 level. The next major support is near USD 35,500, below which the price could start a fresh decline.
On the upside, the price is facing resistance near the USD 37,200 level. The next major resistance is near USD 37,500, above which the price might attempt a move above USD 38,000.
Ethereum price struggled to clear the USD 2,500 resistance zone. As a result, ETH declined below USD 2,400. On the downside, an initial support is near the USD 2,350 level. The next major support is near USD 2,320, below which the price might test USD 2,220.
If there is a fresh increase, the price could face resistance near USD 2,500. The next key resistance is near USD 2,550, above which the price might rise to USD 2,650.
Cardano (ADA) spiked towards the USD 1.08 resistance, where it faced sellers. There was a bearish wave and the price declined below USD 1.05. If the bears remain in action, the price could decline towards the USD 1.00 level.
Binance coin (BNB) is up 3% and there was a clear move above the USD 385 level before correcting towards
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