Bitcoin and Ethereum Trend Lower, ADA Inches Higher

Bitcoin and Ethereum Trend Lower, ADA Inches Higher

 

  • Bitcoin price extended decline below USD 43,000.
  • Ethereum broke the USD 3,300 support, XRP is consolidating above USD 0.75.
  • ADA extended its rally above the USD 1.50 resistance.

Bitcoin price failed to stay above the USD 43,000 level and extended decline. BTC traded below the USD 42,800 support level. It is currently (13:40 UTC) showing bearish signs and there is a risk of a move below USD 42,000.

Similarly, most major altcoins are struggling. ETH declined below the USD 3,300 and USD 3,260 support levels. XRP is sliding and might trade below USD 0.75. Conversely, ADA extended rally above the USD 1.50 level.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a clear move below USD 43,200, bitcoin price extended decline. BTC even broke the USD 43,000 support level. It is now consolidating near the USD 42,700 level. The next major support is near USD 42,000. A downside break below USD 42,000 could send the price towards the USD 40,500 level.

If there is a fresh increase, an immediate resistance is near the USD 43,000 level. The next major resistance is near USD 43,200, above which the bulls might attempt a move towards USD 45,000.

Ethereum price

Ethereum price also followed a similar pattern and declined below USD 3,300. It is now struggling to stay above the USD 3,250 support. The next major support is near USD 3,200, below which the price might revisit USD 3,120.

On the upside, an initial resistance is near USD 3,300. The next key resistance is near USD 3,320, above which the price might test USD 3,400.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) remained in a positive zone above the USD 1.45 level. It broke the USD 1.50 level and extended rally. The next major resistance is near USD 1.55, above which the price could test USD 1.62. ADA is now up 10% in a day, becoming the best performer among the top 100 coins by market capitalization today and increasing its weekly gains to 30%.

Binance coin (BNB) is down 3% and trading below the USD 480 support level. The next major support is near the USD 465 level. Any more losses could lead the price towards the USD 450 support zone.

Solana (SOL) declined below the USD 145 support level. The next major support is near the USD 142 level. If the bears remain in action, there could be a move towards the USD 130 level. The next major support is near USD 120.

DOGE is moving lower and trading near the USD 0.170 level. It seems like the price could decline towards the USD 0.165 level. If there are more downsides, the price could test the USD 0.150 level.

XRP price is now moving towards the USD 0.75 level. If there is a downside break below USD 0.75, the price could test USD 0.70. Conversely, the price could rise towards the USD 0.80 level. 

Other altcoins market today

Many altcoins are down over 4%, including LUNA, DOT, AVAX, SHIB, LINK, ATOM, ICP, VET, THETA, ONE, and XTZ. Conversely, XMR and LTC are showing positive signs and are up more than 5%.

To sum up, bitcoin price is showing bearish signs below USD 43,000. If BTC trades below USD 42,000, there could be a stronger move towards the USD 40,500 level in the near term. If not, it may perhaps rise to USD 44,000.

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Originally Posted on: https://cryptonews.com/news/bitcoin-ethereum-trend-lower-ada-inches-higher.htm
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