Bitcoin and Ethereum Test New Lows, DOGE Outperforms, APE in Rollercoaster Mode
Bitcoin price remained in a bearish zone below the USD 40,000 level and extended its decline below USD USD 38,800 and tested USD 38,400. It is currently (11:49 UTC) trading near USD 38,800 again and is down 2% in a day and 3% in a week.
Similarly, most major altcoins are accelerating losses. ETH declined below the USD 2,850 support zone before recovering and is now down 3% in a day and almost 6% in a week. XRP could slide below USD 0.65 and test USD 0.620. ADA declined almost 4% and might test the USD 0.82 support zone.
Total market capitalization
After a close below USD 40,000, bitcoin price struggled to start a recovery wave. BTC traded below the USD 39,200 support zone and even broke the USD 38,800 support zone. It is showing bearish signs below the USD 39,200 level. The next major support is near USD 38,000, below which the price might decline stronger.
If there is a recovery wave, the price might face resistance near USD 39,200. The first major resistance is now forming near the USD 39,550 level.
Ethereum price declined 3% and there was a sharp move below the USD 2,900 level. ETH even traded below the USD 2,850 level and tested the USD 2,800 level before recovering. The next major support is near the USD 2,780 level, below which the price could test USD 2,700.
On the upside, the USD 2,880 level is an initial hurdle. The first major resistance might be near the USD 2,920 level, above which the price may perhaps rise towards the USD 3,000 level.
Cardano (ADA) gained bearish momentum below the USD 0.88 support zone. It even broke the USD 0.85 level. If the bears remain in action, there is a risk of a move towards the USD 0.82 level.
BNB is moving lower and there was a brief spike below the USD 385 support before the price
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