Bitcoin and Ethereum Still Bearish, ADA Corrects Gains
Bitcoin price failed to start a recovery above USD 43,000. BTC extended decline below the USD 42,000 and USD 41,900 levels. It is currently (11:59 UTC) consolidating, with a major hurdle near USD 43,000.
Similarly, most major altcoins are showing bearish signs. ETH extended losses below the USD 3,150 support zone, before rising to USD 3,170. XRP traded below the key USD 0.75 support zone. ADA trimmed gains and traded below USD 1.52.
Total market capitalization
In the past three sessions, bitcoin price saw bearish moves below USD 43,000. BTC declined below the USD 42,500 and USD 42,000 support levels. If the bears remain in action, the price might slide towards the USD 41,200 level. The next key support is near the USD 40,500 level, below which there is a risk of a move to USD 39,500.
On the upside, bitcoin is facing resistance near the USD 42,500 level. The next major resistance is near USD 43,000, above which the price might start a solid recovery.
Ethereum price extended drop below the USD 3,200 support level. ETH even spiked below USD 3,150 and tested USD 3,120. On the upside, an immediate resistance is near USD 3,220. The next key resistance is near USD 3,250, above which the price might gain bullish momentum.
An initial support is near the USD 3,120 level. Any additional losses could push the price towards the USD 3,000 handle in the near term.
Cardano (ADA) rallied above the USD 1.60 level before sellers appeared. It started a fresh decline below the USD 1.55 and USD 1.52 levels. It is now consolidating near USD 1.48, with a major support at USD 1.45.
Binance coin (BNB) is down 3% and trading well below the USD 475 level. An immediate support is near the USD 455 level. The next major support is near USD 450. A close below
Read more on cryptonews.com
