Bitcoin and Ethereum Correct Gains, APE Crashes 40%
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Bitcoin and Ethereum Correct Gains, APE Crashes 40%

  • Bitcoin price started a downward correction from USD 42,250.
  • Ethereum failed to clear USD 3,000, XRP is trading around USD 0.80.
  • The hyped APE keeps trending down.

Bitcoin price attempted an upside break above the USD 42,250 resistance zone but failed. BTC started a downside correction and is currently (04:18 UTC) trading near USD 40,800.

Similarly, most major altcoins are also moving lower. ETH failed to surpass USD 3,000 and declined below USD 2,900. XRP tested USD 0.82 before correcting lower. ADA failed to clear the key USD 0.92 resistance zone.

Total market capitalization

Source: tradingview.com

bitcoin price

After a failed attempt to clear the USD 42,250 resistance, bitcoin price started a downside correction. It is now trading below $41,000 and might continue to move lower towards $40,500. The main weekly support is near the USD 40,000 level, below which the price may perhaps revisit the USD 39,000 support zone.

If there is a fresh increase, the price might face resistance near USD 41,250. The next key resistance is near the USD 42,250 level, above which the price could gain bullish momentum.

Ethereum prices

Ethereum price attempted to gain pace above USD 2,950 but faced a strong resistance. ETH is now moving lower and trading below USD 2,900. The next major support is near the USD 2,800 level, below which the price might test the USD 2,750 support zone.

On the upside, an initial resistance is near the USD 2,900 level. The next major hurdle is now forming near the USD 2,950 level.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) traded above the USD 0.90 resistance zone. However, it failed to clear the USD 0.92 resistance zone. It is now back below $0.90 and might decline towards the $0.865 support.

BNB extended gains above the USD 388 resistance level. It even spiked above the USD 400 resistance level. However, there was no upside continuation and the price declined below USD 390 again.

Solana (SOL) failed to clear the USD 92 resistance zone. If there is a downside break below the $85 support, the price might move down. In this case, SOL may perhaps decline towards $78.

DOGE gained pace above the USD 0.120 resistance. It traded close to the key USD 0.124 resistance level, where the bears emerged. The price is trimming gains and might test the USD 0.118 support zone.

XRP price spiked above the USD 0.80 resistance. It faced a strong selling interest and there was no close above USD 0.82. The price is now moving lower and approaching the USD 0.788 support zone. Any more losses might push the price towards $0.768.

Other altcoins 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 almost 9% and trading above USD 110. Meanwhile, the newly emerged APE is now down 40% since its peak reached last Friday as it keeps trending lower and is trading near USD 10. It’s down 10% in a day .

Overall, bitcoin price is slowly moving lower from the USD 42,250 resistance level. BTC might even drop below the USD 40,500 level, but the USD 40,000 support is the key for the next increase.

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