Bitcoin and Ethereum Face Strong Resistance, LUNA, ATOM Dive

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  • Bitcoin price is facing strong resistance near USD 37,500.
  • Ethereum failed to surpass USD 2,500, XRP is struggling to stay above USD 0.60.
  • ATOM and LUNA dropped at least 10%.

Bitcoin price climbed above the USD 37,000 level but there was no upside continuation. BTC trimmed gains and traded below USD 36,500. It is currently (11:56 UTC) consolidating near this level.

Similarly, most major altcoins are consolidating below resistance. ETH failed to surpass the USD 2,500 resistance and moved lower. XRP could continue lower if there is a daily close below USD 0.580. ADA failed to clear the key USD 1.08 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After another increase, bitcoin price was able to clear the USD 37,000 level. However, BTC struggled to clear the USD 37,500 resistance zone. As a result, there was a bearish reaction below USD 37,000. It is now consolidating near the USD 36,500 level. The next major support is near USD 35,500, below which the price could start a fresh decline.

On the upside, the price is facing resistance near the USD 37,200 level. The next major resistance is near USD 37,500, above which the price might attempt a move above USD 38,000.

Ethereum price

Ethereum price struggled to clear the USD 2,500 resistance zone. As a result, ETH declined below USD 2,400. On the downside, an initial support is near the USD 2,350 level. The next major support is near USD 2,320, below which the price might test USD 2,220.

If there is a fresh increase, the price could face resistance near USD 2,500. The next key resistance is near USD 2,550, above which the price might rise to USD 2,650.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) spiked towards the USD 1.08 resistance, where it faced sellers. There was a bearish wave and the price declined below USD 1.05. If the bears remain in action, the price could decline towards the USD 1.00 level.

Binance coin (BNB) is up 3% and there was a clear move above the USD 385 level before correcting towards USD 380 again. Also, there might be a downside correction towards USD 365.

Solana (SOL) struggled to surpass the USD 95 level. It is moving lower below the USD 90 level. The next key support is near the USD 85 level, below which the price could slide to USD 76.

DOGE is again moving lower towards the USD 0.135 support. On the upside, it is facing resistance near the USD 0.145 level. The next resistance is near the USD 0.150 level.

XRP price is struggling to stay above the USD 0.600 level. The next major support is near the USD 0.580 level. A close below USD 0.580 may perhaps push the price towards the USD 0.550 level.

Other altcoins market today

A few altcoins are up at least 3%, including BAT, MKR, and FTT. Conversely, most altcoins in the top 100 are down over 3%. ATOM dropped 10%, reaching the USD 28 zone and increasing its weekly losses to 26%, while LUNA dived 19%, almost hitting USD 49. It’s also down 32% in a week. 

To sum up, bitcoin price is facing strong resistance near USD 37,500 and USD 38,000. If there is no upside break, the price could decline towards USD 34,000.

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