Bitcoin and Ethereum Continue to Fail Near Important Highs, DOT and NEAR Rally
Bitcoin price attempted an upside break above the USD 49,500 zone but failed. BTC started a downside correction below USD 49,000. It is currently (04:21 UTC) trading below USD 48,700 and there is a risk of a move towards USD 47,500.
Similarly, most major altcoins are also struggling to gain momentum. ETH topped near USD 4,060 and corrected lower. XRP extended increase and is testing the USD 1.00 barrier. ADA is stable above the USD 1.30 pivot level.
Total market capitalization
After a failed attempt near USD 49,500, bitcoin price started a downside correction. There was a break below the USD 49,000 and USD 48,500 levels. On the downside, an initial support is near the USD 48,000 level. The next major support is near USD 47,500, below which the
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