- Bitcoin price is facing a major hurdle near USD 42,500.
- Ethereum is trading well below USD 3,200,
is facing resistance near USD 0.75. XRP declined 7% and trimmed most of its weekly gains. ADA
Bitcoin price remained in a bearish zone below the USD 42,000 level. BTC even traded close to USD 41,000 before correcting higher. It is currently (04:18 UTC) trading near USD 42,000, but there is a crucial resistance forming near USD 42,500.
Similarly, most major altcoins are facing hurdles.
Total market capitalization
After a break below USD 42,000, bitcoin price extended decline. BTC even traded below the USD 41,200 zone, but downsides were limited. It is now recovering and trading above near USD 42,000. An immediate resistance is near the USD 42,200 level. The next major resistance is near USD 42,500, above which the price might start a steady increase.
On the downside, an initial support is near the USD 41,250 level. The next major support is near USD 40,500, below which there is a risk of more losses.
Ethereum price also briefly declined below the USD 3,100 level. ETH tested USD 3,050 and recovered higher. On the upside, an immediate resistance is near USD 3,180. The next key resistance is near USD 3,200, above which the price might start a stronger upward move.
An initial support is near the USD 3,050 level. The main support is near USD 3,000, below which the bears might aim for a larger decline.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) trimmed most of its gains and settled below the USD 1.40 level. It is down 7% and trading near USD 1.35, trimming its weekly gains to less than 4%. ADA is now down 16% from its weekly high of 1.61. The next major support is near USD 1.32. Any more losses could send the price towards USD 1.265.
Solana (SOL) settled below the USD 140 zone. An immediate support is near the USD 132 level. A downside break below the USD 132 level might start a drop towards the USD 125 level. On the upside, the USD 140 zone presents a major resistance.
XRP price is consolidating below the USD 0.75 level. On the downside, the USD 0.720 level is a strong support, below which the price could decline further. Conversely, the bulls may perhaps attempt an upside break above the USD 0.75 resistance.
Other altcoins market today
A few altcoins are down over 4%, including NEAR, LINK, UNI, ALGO, FTM, ICP, MANA, VET,
Overall, bitcoin price is showing bearish signs below the USD 42,500 level. To start a stronger recovery wave, the bulls need to clear the USD 42,500 resistance zone.