Bitcoin and Ethereum Trim Gains, Altcoins Drop Even More
Bitcoin price failed to make a move towards the USD 40,000 resistance. BTC started a fresh decline from USD 39,200 and declined below USD 37,000. It is currently (04:11 UTC) down 4% and there is a risk of more losses below USD 36,800.
Similarly, most major altcoins are moving lower. ETH topped near USD 2,800 and declined below USD 2,700. XRP failed to climb higher towards the USD 0.650 resistance. ADA is moving lower towards the USD 1.02 support.
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After a key rejection near USD 39,200, bitcoin price saw a bearish wave. BTC declined below the USD 37,000 level while an immediate support is near the USD 36,500 level. The next major support is near USD 36,000, below which the price could continue to move down.
If there is a fresh upward move, the price could face resistance near USD 37,800. The next major resistance is near the USD 38,000 level, above which the price could gain momentum.
Ethereum price failed to clear the USD 2,800 resistance zone. There was a drop below the USD 2,700 level and the price might move down further. An initial support is near the USD 2,650 level. The next major support is near USD 2,600, below which the price may perhaps decline sharply.
On the upside, ETH could face resistance near USD 2,750. The next key resistance is near the USD 2,800 level, above which the price could rise steadily.
Cardano (ADA) topped near the USD 1.10 level and started a fresh decline. It is back below USD 1.05 and might continue to move down towards USD 1.02. The main support is near the USD 1.00 zone.
Binance coin (BNB) failed to clear the USD 388 level. There was a bearish wave below the USD 375 level. The price even traded below USD 370 and might test the USD 355 level.
Solana (SOL) faced a strong
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