Bitcoin and Ethereum Try to Recover, SOL Gains Strength
Bitcoin price remained in a negative zone and settled below the USD 40,000 level. BTC even traded below USD 38,800 and tested USD 38,000. It is currently (04:21 UTC) correcting losses above USD 39,000, but the bears might remain active near USD 40,000.
Similarly, most major altcoins are facing hurdles. ETH declined below the USD 2,650 support level before recovering. XRP is still trading below USD 0.80. ADA tested USD 0.92 before correcting higher.
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After a bearish move below USD 41,200, bitcoin price extended losses. BTC broke the key USD 40,000 support level and even declined below USD 38,800. It tested USD 38,000 and jumped above USD 3,9000 today. BTC is now facing resistance near the USD 39,200 level. The main weekly resistance is near the USD 40,000 level, above which the price might rise to USD 41,200.
On the downside, the USD 38,200 level is a short-term support. The next key support is near the USD 37,500 level, below which the price might decline towards the USD 36,500 level.
Ethereum price gained pace below the USD 2,800 support zone and briefly spiked below USD 2,600. It is now correcting higher and trading above USD 2,700. An immediate resistance is near the USD 2,750 level. The next key resistance is near the USD 2,880 zone, above which the price may perhaps test USD 3,000.
If there is a fresh decline, the price might test USD 2,650. The next key support is near the USD 2,600 and USD 2,550 levels.
Cardano (ADA) gained bearish momentum below the USD 0.95 support. It even declined below USD 0.925 and tested the USD 0.92 support zone. The price is now recovering, but the bears might be active near USD 1.00.
BNB declined below the USD 385 support zone and tested USD 375. It is now correcting
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