Bitcoin and Ethereum Struggle, LUNA Down 84% while Altcoins Show Signs of Recovery
Bitcoin price started an upside correction above the USD 31,000 level. BTC even climbed above USD 32,000 but struggled near USD 32,500. It is currently (04:03 UTC) trading near USD 31,300 and is up 2% in a day and down 17% in a week.
Similarly, most major altcoins are facing hurdles. ETH is facing resistance near USD 2,400 and USD 2,450. XRP must clear USD 0.55 to start a recovery wave. ADA failed near USD 0.70 and trimmed most of its gains.
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After a spike below USD 30,000, bitcoin price started an upside correction. BTC recovered above the USD 31,200 and USD 31,500 resistance levels. It even moved above the USD 32,000 level, but the bears defended the USD 32,500 region. It is now trading below USD 31,500, with an immediate support at USD 30,800. The main support is still near the USD 30,000 level.
An immediate resistance is near the USD 32,000 level. The next key resistance is now forming near the USD 32,500 level.
Ethereum price also started an upside correction from the USD 2,200 zone. ETH recovered above USD 2,350 and even broke the USD 2,400 resistance. However, the price faced resistance near the USD 2,450 level. It is now consolidating below USD 2,400, with an initial support at USD 2,320. The next major support is near the USD 2,250 level, below which the price might test USD 2,200. ETH is up over 2% in a day and down 15% in a week.
On the upside, the price may perhaps face resistance near the USD 2,420 level. The key breakout zone is now forming near USD 2,450.
Cardano (ADA) recovered from the USD 0.58 zone and there was a break above USD 0.65, but the bulls faced resistance near USD 0.70. It trimmed gains and might even retest USD 0.612.
BNB recovered above the USD 320 level before trimming
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