Table of Contents Hide
- The Bitcoin price is approaching the level of USD .
- Ethereum fell below USD 2,900, XRP also extended losses.
- NEO is trying to recover and gained almost 3%.
The Bitcoin price gained bearish momentum under the USD 42,500 support zone and is currently (12:00 PM UTC) moving towards USD41,200 after falling by 7% in one day.
Similarly, most major altcoins are showing bearish signs. ETH is now trading well below the USD 3,000 pivot level and has fallen by 6% in one day. XRP fell below USD 0.780. ADA remained above the important support zone of USD 1.00.
After a sharp decline, the Bitcoin price found support near the USD 40,000 level. BTC started a small wave of recovery and corrected above USD 40,500 before going down again.
The next important support is near the USD 40,000 level, below which the price may continue its decline.
The Ethereum price found support near the USD 2,850 level and briefly moved above the USD 2,900 level.
There could be another drop in USD 2,850 support. The next support could be USD 2,780, below which the price could decline towards USD 2,650.
ADA, BNB, SOL, DOGE and XRP price
Cardano (ADA) remained well above the USD 1.00 Support zone. However, the bears may encounter strong resistance near the USD 1.05 Level. The next major resistance is at $ 1.08.
The BNB is consolidating above the USD 400 support zone. An immediate resistance is located near the USD 412 level, above which the price may rise to USD 420. Conversely, the price may decline towards the USD 400 level. If there are additional losses, the price may decline towards the USD 380 level.
Solana (SOL) has settled below the USD 100 pivot level. The bulls will have to push the price back above USD 100 if they want to accelerate profits. Otherwise, there is a risk of movement towards the support zone of USD 85.
DOGE is struggling below the support level of USD 0.142. If the bears remain in action, the price may be able to test USD 0.135. On the upside, the level of USD 0.145 Is a short-term resistance, followed by USD 0.148.
The XRP price is showing bearish signs below the USD 0.80 Support. An immediate support is located near the USD 0.780 Level, which is now being tested. The main support is now forming near the USD 0.75 Level.
Other Altcoins Market today
Many altcoins have dropped by over 5%, including AVAX, LUNA, DOT, SHIB, MATIC, CRO, WBTC, LTC, XLM, ICP, SAND and EGLD. Conversely, NEO has risen by almost 3% and is trading above the USD 25 level, bringing its weekly gains to 7%.
In summary, the Bitcoin price is approaching the level of USD 40,000. If it manages to move higher, the bears could remain active near USD 41,200 or USD 42,000.