Bitcoin price attempted an upside break above the $42,250 resistance zone but failed. BTC has started a downward correction and is currently trading near USD 41,000.
Likewise, most major altcoins are also down. ETH failed to break above $3,000 and fell below $2,900. XRP tested $0.82 before correcting lower. ADA failed to break above the key resistance zone of $0.92.
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bitcoin price
After an unsuccessful attempt to break through the resistance at $42,250, Bitcoin price started a downward correction. It is now trading slightly above USD 41,000 but could continue to decline towards USD 40,500. The main weekly support is near the $40,000 level, below which the price might possibly revisit the $39,000 support zone.
If there is a further rise, the price might face resistance near $41,250. The next key resistance is seen near the $42,250 level, above which the price might gain some bullish momentum.
Ethereum price
Ethereum attempted to climb above $2,950 but ran into strong resistance. ETH is now down and trading below $2,900. The next major support lies near the $2,800 level, below which the price may test the $2,750 support zone.
On the upside, a first resistance can be found near the USD 2,900 level. The next major hurdle is now forming near the $2,950 level.
Prices of ADA, BNB, SOL, DOGE, and XRP
Cardano (ADA) traded above the $0.90 resistance zone. However, it failed to break through the $0.92 zone. It is now back below $0.90 and may drop towards the $0.865 support.
Binance Coin (BNB) extended its gains above the $388 resistance level and even broke above the $400 threshold. However, it could not hold up and the price fell back below 390 USD.
Solana (SOL) failed to clear the $92 resistance zone. If there is a downside break below the USD 85 support, the price could decline. In this case, SOL could possibly drop towards USD 78.
Dogecoin (DOGE) gained ground above the $0.120 resistance level. It traded near the key $0.124 level, where the bears emerged. The price is paring its gains and might test the $0.118 support zone.
XRP price broke above the resistance of $0.80. It faced heavy selling pressure and there was no close above $0.82. The price is now down and approaching the $0.788 support zone. Any further losses could push the price towards $0.768.
The other altcoins on the market today
Many altcoins are in the red zone, including AVAX, DOT, SHIB, MATIC, NEAR, LINK, UNI, MANA, ICP, SAND, FTM, and MIOTA. Conversely, DASH is up nearly 9% and trading above $110. Meanwhile, the new APE token is now down 40% from its peak last Friday as it continues to trend lower and is trading near $10. He lost 10% in one day.
Overall, Bitcoin price is slowly moving away from the $42,250 resistance level. BTC might even drop below the $40,500 level, but the $40,000 support is key for the next upside.
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