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- The Bitcoin price is struggling to overcome the USD 39,000 resistance.
- Ethereum could struggle near USD 2,880, XRP faces a difficult task near USD 0.80.
- Several altcoins have dropped by more than 5%.
The Bitcoin price made some attempts to overcome the resistance of USD 39,000, but corrected lower and is now trading (13:53 UTC) near USD 38,000.
Similarly, most major altcoins face important hurdles. ETH needs to clear USD 2,880 and then USD3,000 for a medium-term trend change. XRP could continue to face hurdles near USD 0.80. ADA could perhaps gain bullish momentum if there is a clear movement above USD 1.00.
Total Market Capitalization
After a downward correction, the Bitcoin price tried another upward movement above USD 38,000. However, BTC failed to settle above the level of USD 39,500. A successful close of the day above USD could initiate a medium-term uptrend. The next major resistance is near USD 41,200, above which it could rise to USD 43,500.
If there is no uptrend above USD 40,000, the price could be lower. The main breakdown support is near USD 36,500, below which the price could potentially drop to USD 35,000.
The Ethereum price is trading near USD 2,600 and is facing a crucial hurdle near USD 2,880. The main medium-term resistance is still near USD 3,000. If there is a closing price above USD 3,000, the price could rise steadily.
Otherwise, there is a risk of a greater decline below the USD 2,500 support. The next important support is located near the USD 2,350 zone, below which the price could test USD 2,220.
ADA, BNB, SOL, DOGE and XRP price
Cardano (ADA) is still well above the USD 0.80 Pivot level. If the bulls stay in action, there is a chance that they will move above the USD 1.00 Resistance. The next big resistance could be USD 1.20.
BNB is stuck under the resistance of USD 388. The main medium-term resistance is at USD 400. A close of the day above USD 400 can potentially trigger a steady rise towards USD 450.
Solana (SOL) could still face selling interests near USD 95 and USD 100. If the bulls manage to clear USD 100, there may be a move towards USD 120. If not, it could drop to $75.
DOGE is consolidating near the USD 0.120 Level. To start a stronger increase, the price needs to overcome the resistance levels of USD 0.135 And USD 0.142. In this case, he may even rise above the level of $ 0,150.
The XRP price may continue to attract selling interest near the USD 0.80 Level. On the other hand, the USD 0.65 Level is an important monthly support. A closing price below USD 0.65 Could require a move towards USD 0.500.
Other Altcoins Market today
Many altcoins have dropped by over 5%, including AVAX, DOT, SHIB, MATIC, ATOM, LTC, LINK, FTT, NEAR, MANA, XLM and FTM. Of these, AVAX declined by 7% and was trading below USD 75.
In summary, the Bitcoin price is facing some major hurdles near USD 40,000. To start a steady rise and turnaround, BTC needs to settle above USD 40,000.
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