Bitcoin Dives Below USD 39K, Ethereum Breaks 2.9K, Altcoins in Red
Bitcoin price tried to clear the USD 43,500 resistance zone. However, BTC struggled to gain pace and started a decline below USD 41,200. There was a break below USD 40,000 and the price is currently (04:18 UTC) consolidating losses near USD 38,700.
Similarly, most major altcoins declined sharply. ETH traded below the key USD 3,000 support zone. XRP declined and even spiked below USD 0.70 before recovering. ADA is down almost 10% and there was a move towards the USD 1.20 level.
Total market capitalization
After another failure near USD 43,500, bitcoin price started a fresh decline. It’s down 7% in a day. BTC declined sharply below the USD 41,200 and USD 40,500 support levels. It even broke the USD 40,000 support and tested USD 38,500. It is now recovering and facing resistance near USD 39,000. The next major resistance is near USD 40,000, above which the price might start a recovery wave.
Ethereum price also started a major decline below the USD 3,120 support level. ETH even settled below the USD 3,000 level and is down more than 8% in a day. It tested USD 2,850 and is currently consolidating losses. On the upside, an immediate resistance is near USD 2,920. The next key resistance is near USD 3,000, above which the price might start a decent correction wave.
An initial support is near the USD 2,800 level. The next major support is near USD 2,750, below which the price might dive towards USD 2,650.
Cardano (ADA) is down 10% and there was a clear move below the USD 1.25 level. It traded close to USD 1.20 and is currently correcting higher. If there is a recovery wave, the price could face a strong resistance near the USD 1.25 level.
Binance coin (BNB) is down 9% and there was a clear move below USD 450. The price is now
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