Bitcoin and Ethereum Struggle to Recover, Smaller Altcoins Trim Losses


The bitcoin price fell below USD 40,000 support this weekend. BTC fell below USD 35,000 to further enter a bearish zone. It is currently consolidating losses of USD 35,000 at 05:36 UTC.

Similarly, most major altcoins declined sharply. ETH traded below USD 2,650 support. XRP fell and even spiked to USD 0.60. ADA plunged, and then there was a sharp drop below USD 1.00.

Bitcoin price
Bitcoin price fell below USD 40,000 support in the last two days. BTC fell significantly below the USD 38,000 level and USD 37,000 levels. BTC even broke the USD 35,000 resistance and tested USD 34,000. It is currently recovering and faces resistance at USD 35,500. The next major resistance will be near USD 36,000. Above which, the price could start to rise towards USD 38,000.

A support level of USD 34,500 is the initial support. Near USD 34,000 is the next major support, below which price could resume its downward trend.

Ethereum price
Ethereum price began a significant decline below the USD 3000 support level. Even below the USD 3,650 level, ETH settled. It reached USD 2,400, but is now consolidating losses. The upside is that the immediate resistance is at USD 2,500. The next resistance point is close to USD 2,650. If the price reaches this level, it could trigger a stronger correction.

ADA, BNB and SOL prices.
Cardano – ADA experienced bearish momentum below USD 1.10. The price even spiked to below USD 1.00, before it recovered. It is now back above USD 1.00 but is currently facing resistance at USD 1.12.

Binance Coin (BNB). fell below USD 400 and tested USD 350. The USD 385 and USD 400 supports might be strong obstacles if there is a recovery wave. The main support is located at USD 350.

Solana was still down nearly 6%, with a daily close under USD 100. The price could fall towards USD 75 if the bears are still active. The USD 66 level is the next major support.

DOGE has struggled to maintain above USD 0.135. The price could fall towards USD 0.120 if there is a clear downturn. The USD 0.105 level is the next major support.

XRP price consolidating at the USD 0.60 level. The USD 0.580 level is the immediate support. Near USD 0.550 is the next support level. Below that, there is a possibility of a sharp fall towards USD 0.50.

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