Ethereum Outperforms Bitcoin, LUNA Struggles, MKR Rallies

cryptonews.com:

Bitcoin price declined heavily and tested the USD 30,000 support. BTC is currently (11:48 UTC) correcting losses near USD 31,700, but the bears are active near the USD 32,000 zone. A close above USD 32,000 and USD 32,500 might start a stronger increase. BTC is down almost 4% in a day and 18% in a week.

Similarly, most major altcoins are correcting losses. ETH tested the USD 2,200 level and recovered to USD 2,400. XRP is facing resistance near USD 0.525 and USD 0.532. ADA is eyeing an upside break above the USD 0.70 level. (Learn more: Bitcoin & Crypto Selloff: Liquidations, Extreme Fear, Eyes on MicroStrategy, and Possible Support Levels)Total market capitalization

After a sharp decline, bitcoin price found support near the USD 30,000 level. BTC started an upside correction and traded above the USD 31,200 level. However, the price is struggling to settle above the USD 32,000 level. The next key resistance is now forming near the USD 32,500 level, above which the price might rise steadily.

On the downside, an initial support is near USD 31,000. The main support is near the USD 30,000 level, below which there is a risk of more downsides.

Ethereum price also dived and tested the USD 2,200 support zone. ETH started a recovery wave above the USD 2,300 and USD 2,320 levels. However, the bears are defending the USD 2,400 level. A close above USD 2,400 could set the pace for a move towards the USD 2,500 level. In either case, ETH erased all its daily losses but is still down 17% in a week.

On the downside, an immediate support is near the USD 2,300 level. The next major support is near the USD 2,250 level, below which the price might retest USD 2,200.

Cardano (ADA) started a steady increase and climbed above the USD 0.65 level. It