Bitcoin and Ethereum Fail Near Key Resistance, XRP Outperforms
Bitcoin price started a recovery wave above the USD 41,200 level. However, BTC failed to gain strength for a clear move above the USD 41,500 resistance. It is currently (04:24 UTC) trading above USD 40,200 and is down 3% in a day.
Similarly, most major altcoins have also corrected lower. ETH failed above the USD 3,120 pivot level and declined almost 3% in a day. XRP was able to climb above USD 0.750 and become the best performer among the top 100 cryptoassets by market capitalization today. ADA is down almost 3% and is trading near USD 0.95.
Total market capitalization
After a close above the USD 41,000 level, bitcoin price extended its increase. BTC was able to surpass the USD 41,200 resistance, but it struggled above the USD 41,500 level. As a result, there was a bearish reaction below the USD 41,000 level. The price even declined to USD 40,000 before recovering. On the downside, an initial support is near the USD 39,500 level. The next major support is near USD 29,200, below which the price might start another decline.
An immediate resistance on the upside is near the USD 40,500 level. The next key resistance is now forming near the USD 41,200 level.
Ethereum price also followed a positive path after it failed to stay above the USD 3,120 pivot level. ETH reacted to the downside and declined below the USD 3,050 level. The next major support is near the USD 3,000 level, below which the price could accelerate losses.
If there is a fresh increase, the price might face resistance near the USD 3,100 level. The next key resistance might be near the USD 3,120 level, above which the price could attempt a move above USD 3,150.
Cardano (ADA) failed to clear the USD 1.0 resistance zone. The price is down almost 3% and there was a brief
Read more on cryptonews.com
