Bitcoin, Ethereum Bears Gain Control, STX Accelerates

cryptonews.com:

Bitcoin price failed to stay above the USD 40,000 pivot level and extended decline below the USD 39,200 support level. It is currently (12:00 PM UTC) trading below USD 39,100 and might decline below USD 38,500.

Similarly, most major altcoins are gaining bearish momentum. ETH declined below the USD 2,920 support level while XRP is hovering below USD 0.75. ADA declined 7% and traded below the USD 0.90 support.

Total market capitalization

Learn more: Liquidations Soar in Crypto Market while Some Traders Hope for ‘Upcoming Bounce’ 

After a close below USD 40,000, bitcoin price extended its decline and is now down almost 4% in a day. An immediate support on the downside is near the USD 38,500 level. The next key support is near USD 38,200, below which the price might dive to USD 37,500.

On the upside, an initial resistance is near the USD 39,500 level. The next key resistance is now forming near the USD 40,000 level, where the bears might take a stand.

Ethereum price also gained bearish momentum after it settled below USD 3,000. ETH declined below USD 2,920 and is now struggling to stay above USD 2,900. The price dropped over 4% in a day. The next major support is near the USD 2,840 level, below which the price could test USD 2,750.

On the upside, ETH might face resistance near the USD 2,950 level. The next key resistance might be near the USD 3,000 level (a pivot zone).

Cardano (ADA) extended decline below the USD 0.920 and USD 0.900 support levels. The price is now approaching the USD 0.865 support, below which it may perhaps test the USD 0.850.

BNB traded below the USD 405 support level. The bears are now attempting a close below the USD 400 support zone. If they succeed, the price might decline towards the USD 385 support.

Solana