Bitcoin and Ethereum Trend Lower, FIL Trims Gains
Bitcoin price struggled to stay above the USD 24,000 resistance. BTC dipped and traded below the USD 23,500 level. It is currently (11:54 UTC) trading just below USD 23,250 and is down over 2% in a day and up 3% in a week.
Similarly, most major altcoins might accelerate their downside correction. ETH declined below the USD 1,700 level and might revisit USD 1,550. XRP is now consolidating near the USD 0.372 level. ADA is moving lower towards the USD 0.505 support.
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After a close below the USD 24,000 level, bitcoin price moved lower and traded below the USD 23,300. On the downside, the price is struggling to stay above the USD 23,000 zone. The next major support is near the USD 22,500 zone, below which the price might gain bearish momentum.
On the upside, an immediate resistance is at USD 23,500. The next major resistance could be USD 24,000, above which the price could start a fresh increase.
Ethereum price settled below the USD 1,700 pivot level. ETH is moving lower and struggling to stay above the USD 1,650 level. The price is down 3% in a day and is still up 4% in a week. If there is a downside break, ETH could test the USD 1,620 support. The next major support is near the USD 1,600 zone, below which the price might drop to USD 1,550.
On the upside, the price might face resistance near USD 1,700. The next key resistance is near the USD 1,720 level, above which ETH might start a fresh increase.
Cardano (ADA) failed to clear the USD 0.55 resistance zone. There was a downside correction, and ADA dropped below USD 0.52. If the bears remain in action, the price could even test USD 0.505.
BNB failed to test the USD 300 resistance and corrected lower. It is now moving in a range near USD 285 and might
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