Bitcoin and Ethereum Stuck Between Key Levels, ETC and THETA Rally
Bitcoin price extended decline below the USD 41,800 level. BTC even tested USD 41,250 and recently corrected higher. It is currently (04:01 UTC) trading above USD 41,700, but a break above USD 42,750 is needed for a decent recovery.
Similarly, most major altcoins are attempting an upside correction. ETH spiked below USD 3,120, but the bulls protected USD 3,050. XRP is struggling to settle above USD 0.750. ADA trimmed gains and declined below USD 1.50.
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After a break below USD 42,500, bitcoin price extended decline. BTC even broke the USD 42,000 support level. It spiked below USD 41,500 before the bulls appeared and pushed the price above USD 42,400 before it dived towards USD 41,700 again.
On the downside, the next major support is near USD 41,200, below which there is a risk of a sharper decline.
Ethereum price also extended decline below the USD 3,120 support. ETH tested USD 3,080 and recovered higher. On the upside, an immediate resistance is near USD 3,200. The next key resistance is near USD 3,250, above which the price might attempt a steady upward move.
An initial support is near the USD 3,080 level. The next major support is near USD 3,000, below which there is a risk of a strong decline.
Cardano (ADA) started a downside correction after a strong rally towards USD 1.60. The bears pushed the price back below USD 1.50 and almost USD 1.40 before recovering towards USD 1.45. It is now down 8% in a day and trimmed its weekly gains to less than 23%.
Binance coin (BNB) is consolidating near the USD 465 level. Any more downsides may perhaps push the price towards the USD 450 level. If there is a fresh increase, the bears might take a stand near the USD 480 level.
Solana (SOL) tested the USD 135 zone.
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