Bitcoin and Ethereum Fail Near Key Resistance, XRP Outperforms

 

• Bitcoin price struggled to clear the key USD 41,500 resistance zone.
• Ethereum topped near USD 3,150, XRP outperformed and climbed above USD 0.78.
• SOL, AVAX, and LUNA are down 4%-7%.

Bitcoin price started a recovery wave above the USD 41,200 level. However, BTC failed to gain strength for a clear move above the USD 41,500 resistance. It is currently (04:24 UTC) trading above USD 40,200 and is down 3% in a day.

Similarly, most major altcoins have also corrected lower. ETH failed above the USD 3,120 pivot level and declined almost 3% in a day. XRP was able to climb above USD 0.750 and become the best performer among the top 100 cryptoassets by market capitalization today. ADA is down almost 3% and is trading near USD 0.95.

Total market capitalization

Bitcoin price

After a close above the USD 41,000 level, bitcoin price extended its increase. BTC was able to surpass the USD 41,200 resistance, but it struggled above the USD 41,500 level. As a result, there was a bearish reaction below the USD 41,000 level. The price even declined to USD 40,000 before recovering. On the downside, an initial support is near the USD 39,500 level. The next major support is near USD 29,200, below which the price might start another decline.

An immediate resistance on the upside is near the USD 40,500 level. The next key resistance is now forming near the USD 41,200 level.

Ethereum price

Ethereum price also followed a positive path after it failed to stay above the USD 3,120 pivot level. ETH reacted to the downside and declined below the USD 3,050 level. The next major support is near the USD 3,000 level, below which the price could accelerate losses.

If there is a fresh increase, the price might face resistance near the USD 3,100 level. The next key resistance might be near the USD 3,120 level, above which the price could attempt a move above USD 3,150.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) failed to clear the USD 1.0 resistance zone. The price is down almost 3% and there was a brief move below the USD 0.95 support. If the bears remain in action, the price could slide towards the USD 0.90 level.

BNB failed to clear the USD 425 resistance zone. The price started another decline and tested the USD 412 level before recovering toward USD 418. If there are additional losses, the price could decline toward the USD 405 level.

Solana (SOL) topped below the USD 110 level. It is down almost 5% and is struggling to stay above the USD 100 level. If there is a close below the USD 100 level, the price could accelerate losses.

DOGE is consolidating near the USD 0.142 support level. If the bulls struggle to protect USD 0.142, the price could continue moving down. The next major support is near the USD 0.135 level.

XRP price outperformed and stayed above the USD 0.72 support zone. It is now up 7% and there was a move above the USD 0.78 level. The next key resistance is USD 0.80. XPR is unchanged for a week.

Other altcoins market today

Many altcoins are down over 4%, including LUNA, AVAX, NEAR, MATIC, ATOM, LINK, ETC, MANA, APE, EGLD, THETA, and FTM. Out of these, LUNA is down 7% and is trading near USD 82.

Overall, bitcoin price failed near a key downtrend resistance at USD 41,500. If BTC fails to stay above USD 39,500, there is a risk of a sharper decline.

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