Bitcoin and Ethereum Move Lower, QNT Rallies
Bitcoin price started a downside correction below the USD 38,000 level. BTC even traded below the USD 37,000 level. It is currently (11:53 UTC) struggling to rise above the USD 37,500 resistance level.
Similarly, most major altcoins are facing hurdles. ETH could accelerate if there is a clear move above USD 2,720. XRP may perhaps suffer a sharper correction if there is a close below USD 0.60. ADA is consolidating near the USD 1.02 pivot level.
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After a downside break below USD 37,500, bitcoin price extended decline as the price fell last night along with the US stock market in after hours, following a disappointing Facebook earnings report. BTC even traded below the USD 37,000 level and is now consolidating losses, with an initial support near the USD 36,500 level. The next major support is near USD 36,000. If there are additional losses, the price could decline towards the USD 35,000 level.
On the upside, an initial resistance is near the USD 37,500 level. The next major resistance is near the USD 37,800 level, above which the price could surpass USD 38,000.
Ethereum price settled below the USD 2,700 level. If ETH bears remain in action, there could be a move below the USD 2,600 support. The next major support is near USD 2,550, below which the price may perhaps revisit the USD 2,400 zone.
On the upside, the price may possibly face resistance near USD 2,720. The next key resistance is near the USD 2,750 level, above which the price could retest USD 2,800.
Cardano (ADA) is consolidating near the USD 1.02 support. The main support is still near USD 1.00. If there is a downside break below USD 1.00, the price could accelerate lower in the near term.
Binance coin (BNB) is struggling to stay above the USD
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