Bitcoin and Ethereum Struggle to Recover, QNT and SNX Outperform
Bitcoin price settled below the USD 20,500 level, extended losses and tested the USD 19,500 support zone. BTC is currently (14:57 UTC) consolidating near USD 19,900 and is down almost 3% in a day and 2% in a week.
Similarly, most major altcoins are gaining bearish momentum. ETH traded below the USD 1,080 support zone. XRP is moving lower towards USD 0.300. ADA tested USD 0.425 and remains at a risk of more losses.
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After a clear move below the USD 21,000 level, bitcoin price followed a bearish path. The price even tested the USD 19,500 level, where the bulls took a stand. The next major support is near the USD 19,200 zone, below which the price could dive towards the USD 18,800 level.
On the upside, the price could face resistance near the USD 20,200 level. The next major resistance might be USD 20,500, above which bitcoin may perhaps start a recovery wave.
Ethereum price extended losses below the USD 1,100 support. ETH even declined below USD 1,080 and tested USD 1,050. ETH is now trading near USD 1,070 and is down almost 6% in a day and 7% in a week. The next major support is near USD 1,020, below which the price might gain bearish momentum for a move towards USD 950.
On the upside, the price might face resistance near USD 1,100. The next major resistance is at USD 1,120, above which the price could start a recovery wave.
Cardano (ADA) settled below the USD 0.45 support zone. It even tested the USD 0.425 level before moving back to USD 0.433 again.
BNB settled below the USD 230 level and tested the USD 225 support. The next major support is near the USD 220 level, below which the bears could aim for a move towards the USD 200 level.
Solana (SOL) spiked below the USD 33.20 support level before
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