Bitcoin and Ethereum Struggle to Hold Uptrend Support, LRC Skyrockets

 

• Bitcoin price is struggling to stay above USD 42,000.
• Ethereum could decline below USD 2,920, XRP is consolidating near USD 0.82.
• LRS rallied 41% in a day.

Bitcoin price started a downside correction from the USD 43,400 zone and traded below USD 42,000. It is currently (12:04 PM UTC) consolidating near USD 42,000 again, but still might decline to the key USD 41,550 support.

Similarly, most major altcoins are trading near important support levels. ETH is trying to stay above USD 2,920. XRP is facing resistance near the USD 0.85 zone. ADA could gain pace above the USD 1.00 resistance zone.

Total market capitalization

Bitcoin price

After struggling above USD 43,000, bitcoin price started a downside correction and is now down 2% in a day. BTC traded below USD 42,000, but the bulls protected more downsides. The next major support is near USD 41,550, below which the price might gain bearish momentum in the near term.

On the upside, the price might face resistance near the USD 42,500 level. The next major resistance is near the USD 43,000 level, above which the price could start a steady increase.

Ethereum price

Ethereum price settled below the USD 3,000 pivot level. ETH even tested the USD 2,920 support level before recovering higher. If it fails to stay above the USD 2,920 level, there could be a move towards the USD 2,850 level. The next major support is near the USD 2,750 level, where the bulls might emerge.

On the upside, an initial resistance is near the USD 3,000 level. The next key resistance is near the USD 3,050 level, above which the price might gain bullish momentum.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is showing positive signs above the USD 0.98 resistance zone. The main barrier is now near the USD 1.00 level. A close above USD 1.00 could set the pace for a larger increase.

BNB is consolidating near the USD 400 level. The first major hurdle is near the USD 412 level. A close above the USD 412 level might spark more gains. If not, the price might decline towards USD 388.

Solana (SOL) is stuck near the USD 90 level. An immediate resistance is near the USD 92 level. The next key resistance is near USD 95, above which the price might test USD 100.

DOGE failed to clear the USD 0.125 resistance level. On the downside, the USD 0.120 level might act as a support. If there is a downside break, the price could test the USD 0.115 level.

XRP price is showing positive signs near the USD 0.82 zone. The main resistance is near the USD 0.85 level, above which the price could accelerate higher in the near term.

Other altcoins market today

A few altcoins are in the green zone, including CRO, ETC, ICP, FIL, APE, THETA, HNT, NEO, LRC, and KSM. Out of these, LRC gained 41% and cleared the USD 1.18 level, increasing its weekly gains to almost 77%.

To sum up, bitcoin price is consolidating near the USD 42,000 zone. BTC must stay above USD 41,550 to start a fresh increase. If not, it might decline to USD 40,000.

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