Bitcoin and Ethereum Stuck in a Range, LUNA Inches Higher
Bitcoin price attempted an upside correction above USD 39,000. However, BTC failed to clear the USD 39,500 resistance zone and is currently (04:22 UTC) trading near USD 38,600.
Similarly, most major altcoins are trading in a bearish zone. ETH is still at risk of extending losses below USD 2,500 and USD 2,440. XRP must stay above USD 0.72 to avoid more losses. ADA is testing the USD 0.80 pivot level.
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After a minor upside correction, bitcoin price faced sellers near the USD 39,500 level. BTC failed to continue higher and started a fresh decline below USD 39,000. It even broke the USD 38,000 level before recovering. The next key support is near the USD 37,250 level, below which the price may perhaps gain bearish momentum. In this scenario, the bears might test USD 36,000.
On the upside, the price might face resistance near the USD 38,800 level. The main weekly resistance is still near the USD 40,000 zone, above which the price might test USD 42,500.
Ethereum price is struggling to clear the USD 2,600 and USD 2,620 levels. It is now consolidating above the USD 2,500 support level. The next key support is near the USD 2,440 level, below which the price might decline to USD 2,320. Any more losses might call for a move to USD 2,250.
If there is a fresh increase, the price could face resistance near USD 2,620. The weekly resistance is now forming near the USD 2,750 level.
Cardano (ADA) is testing the USD 0.80 support zone. The next major support is near USD 0.765, below which the price could dive to USD 0.72.
BNB moved lower below the USD 365 support. The next major support is USD 355, below which the price might slide to USD 350. If there is a fresh increase, the price could face resistance near USD 380.
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