Bitcoin and Ethereum Reverse Gains, Bitcoin’s price pushed beyond the USD 42,500 barrier but fell short of the USD 43,200 mark. There was a strong negative wave, and the price is presently trading near USD 40,500 (04:05 UTC). BTC has lost over 3% in a single day, bringing its weekly gains to less than 2%.
Similarly, most prominent altcoins had their gains reversed. The price of ETH fell below the USD 3,050 support level. XRP has moved into a negative zone after breaking the USD 0.75 support. The USD 0.90 support level is being approached by ADA.
Bitcoin price experienced selling interest following a rise above USD 42,500. BTC reached a high of USD 43,000 but remained below the USD 43,200 barrier. A severe negative wave occurred, and the price dropped below USD 41,000. The next key support level is USD 39,500, below which the price may begin to decline.
Near the USD 41,200 level, there is immediate upward resistance. The next major resistance level might be USD 41,500, over which the price could resume its upward trend.
The price of Ethereum was able to break over the USD 3,150 barrier, but it was met with sellers at USD 3,180. ETH has started a new downtrend below USD 3,100. It has even traded below USD 3,050 and is fighting to stay above the USD 3,000 support level. In a single day, ETH lost almost 3%, and in a week, it lost about 1%. Near the USD 2,950 level, the next important support is found. On the upside, the USD 3,050 level may act as a barrier. The next major resistance level might be around USD 3,120.
ADA, BNB, SOL, DOGE, XRP, and other prices
Cardano (ADA) was unable to break over the USD 0.98 barrier level. The price has dropped below USD 0.95, and it is now nearing the primary USD 0.90 support zone.
BNB has been unable to break through the USD 425 barrier level. The bears established a foothold and pulled the price below USD 412. If they continue to act, a move towards the USD 400 support is possible.
Solana (SOL) failed to break through the USD 110 resistance zone once more. It’s falling and challenging the USD 102 support level. On the downside, the primary support is still at the USD 100 level.
DOGE is now trading below the USD 0.140 support level. It’s getting close to the USD 0.135 support level. Any more losses might push the market towards the USD 0.132 or possibly USD 0.130 support levels.
The price of XRP failed to hold above the crucial USD 0.750 support level. It’s down nearly 3% and might hit the USD 0.72 support level. Any more losses might jeopardize the key USD 0.70 support in the short future.
LUNA, AVAX, DOT, NEAR, CRO, LTC, ATOM, UNI, APE, ALGO, ETC, FIL, and EGLD are among the cryptocurrencies in the red zone. APE was the worst performer, falling 11% and trading below the USD 14 mark. Meanwhile, among the top 100 crypto assets by market capitalization today, TRX and DCR are the greatest performances. TRX increased its weekly gains to 12 percent after rising 7% and surpassing USD 0.067. DCR surged 16 percent in a single day and 30 percent in a week, reaching USD 71.
Bitcoin’s price has retraced its gains from the USD 43,000 level. There is a chance of a trend change in the future sessions if BTC fails to hold over USD 40,000.