Bitcoin and Ethereum Try to Recover, SOL Gains Strength

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  • Bitcoin price settled below the USD 40,000 pivot level.
  • Ethereum moved back above USD 2,700, XRP is still struggling below USD 0.800.
  • SOL gained almost 7%, QNT jumped by 10%.

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.

Total market capitalization

Source: tradingview.com

Bitcoin price

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

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. 

ADA, BNB, SOL, DOGE, and XRP price

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 losses, with an immediate resistance at 392. The main weekly resistance is now near USD 400.

Solana (SOL) is up almost 7% and there was a clear move above USD 92 that erased all weekly losses. The main breakout zone is near the USD 100 level, above which the bulls might test USD 112.

DOGE broke the key USD 0.140 support level and tested USD 0.135. If there is a recovery wave, the price might face resistance near USD 0.145. On the downside, the USD 0.135 level is a strong support.

XRP price settled below the USD 0.80 support. It even tested the USD 0.765 support and currently correcting higher. However, a clear move above USD 0.80 is a must for a steady increase.

Other altcoins market today

A few altcoins are in the green zone, including LUNA, SHIB, ATOM, LEO, MANA, AXS, ZEC, and QNT. Out of these, QNT rallied more than 10% and surpassed the USD 115 level, trimming its weekly losses to 2%.

Overall, bitcoin price is showing bearish signs below the USD 40,000 support. BTC could extend losses if the bulls fail to push the price above USD 40,000.

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