Bitcoin and Ethereum Test New Lows, FXS Accelerates
Bitcoin price failed to clear the USD 39,000 resistance level and started another decline, moving below USD 38,000. It is currently (04:09 UTC) trading near USD 38,100 again but it still might slide below USD 37,500. BTC is down 1% in a day and is unchanged in a week.
Similarly, most major altcoins are also moving lower. ETH declined below USD 2,800 and tested USD 2,750 before recovering. XRP might gain bearish momentum if it settles below USD 0.60. ADA could extend losses and trade below USD 0.75.
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After facing resistance near USD 39,000, bitcoin price started a fresh decline. BTC even traded below the USD 38,000 level before recovering. The next major support is near USD 37,500. A clear move below the USD 37,500 level could even push the price below the USD 37,200 support in the near term.
An immediate resistance on the upside is near the USD 38,400 level. The key resistance is still near the USD 39,000 level, above which the price might start a decent increase.
Ethereum price failed to stay above the USD 2,850 resistance level. ETH started another decline, tested the USD 2,750 level, and is currently consolidating near USD 2,800. ETH is down almost 2% in a day and is unchanged in a week. On the downside, an immediate support is near the USD 2,750 level. The next major support is near the USD 2,720 level, below which the price might test USD 2,650.
If there is a recovery wave, the price could struggle near USD 2,850. The main major resistance is still near the USD 2,900 zone.
Cardano (ADA) is trading below the USD 0.80 resistance. It is moving lower and might trade below the USD 0.765 level. The next major support on the downside is near USD 0.750.
BNB is struggling and consolidating near the USD 385
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