Bitcoin and Ethereum Stuck in Range, DOGE and XRP Gain
Bitcoin price is still struggling to clear the USD 40,800 resistance level as BTC is stuck in a range near USD 40,000. It is currently (04:48 UTC) showing bearish signs, with an important support at USD 39,500.
Similarly, most major altcoins are also near important support levels. ETH must stay above USD 2,980 and USD 2,950. XRP gained over 7% and there was a move above the USD 0.765 resistance. ADA is consolidating near USD 0.95.
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After a bearish reaction, bitcoin price declined below the USD 40,000 support zone. BTC even tested the USD 39,500 support zone before recovering. It is now stuck in a range near the USD 40,000 level and is down 2% in a day. The first major support is near the USD 39,500 level. The next major support is near USD 39,200. A close below USD 39,200 could increase pressure on the bulls.
An immediate resistance on the upside is near the USD 40,800 level. The next key resistance is now forming near the USD 41,200 level, above which the price may perhaps accelerate higher.
Ethereum price followed a bearish path and there was a spike below the USD 3,000 level. However, downsides were limited, and the price remained stable above USD 2,950. The next major support is near the USD 2,920 level, below which the price could decline further. ETH is now hovering just above USD 3,000 and is down almost 2% in a day.
On the upside, an initial resistance is near USD 3,080. The next key resistance might be near the USD 3,120 level, above which the price might climb above USD 3,150.
Cardano (ADA) struggled to clear the USD 0.965 resistance zone. It is now consolidating near the USD 0.950 pivot level. The next major support is near USD 0.920, below which there could be a test of USD 0.90.
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