Bitcoin and Ethereum Nosedive, All Top 100 Coins in Red
Bitcoin price failed to continue higher above the USD 40,000 resistance zone and started a fresh decline below the USD 38,500 support. BTC is down 8% in a day and is currently (04:01 UTC) consolidating near USD 36,500. It is also down 8% in a week.
Similarly, most major altcoins declined heavily. ETH traded below the USD 2,780 and USD 2,750 support levels. XRP declined below the USD 0.60 support and tested USD 0.58. ADA is down almost 11% and is trading below the USD 0.80 level.
Total market capitalization
After a strong rejection near USD 40,000, bitcoin price started a major decline. BTC traded below the USD 36,500 support level and tested USD 35,850. It is now correcting losses and trading above USD 36,200. An immediate resistance is near the USD 37,000 level. The next key resistance is now forming near the USD 37,500 level.
On the downside, an initial support is near USD 36,000. The next major support is near USD 35,400, below which the price might resume its decline.
Ethereum price also started a major decline from the USD 2,950 resistance and tested USD 2,700 before recovering. It is now consolidating near the USD 2,750 level and might face resistance near the USD 2,800 level. ETH is down almost 7% in a day and 6% in a week.
On the downside, an immediate support is near the USD 2,700 level. The next major support is near the USD 2,680 level, below which the price might test USD 2,620.
Cardano (ADA) reversed all its gains and declined below the USD 0.85 support. There was a clear move below the USD 0.80 level and ADA might continue to move down towards the USD 0.75 level.
BNB is down over 6% and there was a break below the USD 380 support. If the bears remain in action, the price may perhaps test USD 365. On the upside, the
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