Bitcoin and Ethereum Recovery Stalls Near Key Hurdles
Bitcoin price started a recovery wave above the USD 41,500 level. BTC climbed above the USD 42,000 level, but it struggled near USD 42,500. It is currently (12:45 PM UTC) consolidating above USD 41,900, with a minor bearish angle.
Similarly, most major altcoins are facing important hurdles. ETH is facing resistance near the USD 3,150 level. XRP could gain pace if there is a close above the key USD 0.750 pivot level. ADA is testing the USD 1.15 resistance zone.
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After forming a base above USD 41,000, bitcoin price extended its recovery. BTC climbed above the USD 41,500 and USD 42,000 resistance levels. The price even spiked above USD 42,500, but there was a lack of strength. It is now consolidating below the USD 42,000 level. On the downside, an initial support is near the USD 41,500 level. The next support is near USD 41,200, below which the price might test USD 40,500.
On the upside, the bulls need to gain strength above the USD 42,500 resistance for a steady increase in the near term. The next major resistance is near USD 43,200.
Ethereum price also extended its recovery wave above the USD 3,100 level. However, the bears defended the USD 3,150 level. It is consolidating, with an initial support near the USD 3,100 level. The next major support is near USD 3,050, below which there is a risk of a fresh decline.
An immediate resistance is near the USD 3,150 level. A close above USD 3,150 could send the price towards USD 3,250 or even USD 3,320.
Cardano (ADA) recovered above the USD 1.12 and USD 1.14 levels. It is now rising and testing resistance near USD 1.15. A close above USD 1.15 might increase the chances of a move towards USD 1.20. The next major resistance is near USD 1.22.
Binance coin (BNB)
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