Bitcoin and Ethereum Struggle to Recover, Multiple Small Cap Altcoins in Green

  • Bitcoin price recovered above the $42,000 level.
  • Ethereum price rose again above $3,200, and XRP surpassed $0.75.
  • ATOM gained 20%, and MANA, QNT and ONE are up at least 11%.

Bitcoin price failed to recover above $43,500 and extended its decline. Bitcoin is trading below the support level at $42,500. It is currently trading (12:57 UTC) near $42,300 but is struggling to move higher.

Likewise, most of the major cryptocurrencies are gaining bearish momentum. ETH dropped to $3,100 before recovering above $3,200. XRP is still consolidating near the $0.75 level. ADA climbed below $1.20 before regaining a few pips.

Total market value

Source: tradingview.com

Bitcoin price

After a slight recovery, the bitcoin price failed to continue rising above $43,500. BTC started a fresh drop below the $42,500 support earlier today. The price rose towards 41,000 USD before starting a new recovery wave. On the upside, there is immediate resistance near the $43,000 level. The first major resistance is near $43,500, and above it the price may attempt a stronger correction.

On the downside, initial support is near the $42,000 level. The next major support is near $41,200, below which the price may drop towards $40K.

Ethereum price

Ethereum price climbed below the $3,300 and $3,250 support levels. It almost tested the $3,100 level before correcting higher and is now trading above $3,200. An immediate hitch is near $3,250, and the price could rise above it towards $3,350.

There is immediate support near the $3,200 level. The next major support is near $3,120, and the price could test $3,000 below it.

ADA, BNB, SOL, DOGE and XRP price

Cardano (ADA) is consolidating near the $1.20 level. It is facing resistance near the $1.232 level. The next major resistance is near $1.25, and above it the price could rise towards the $1.28 level

Binance Coin (BNB) fell below the $455 support level and even rose below the $432 level. It is now consolidating around $450 again. On the upside, the bears may remain active near the $465 level.

Solana (SOL) price is down 6% and there was a move towards the $135 level before recovering towards $140. The next major support is near the $132 level. Any more losses could push the price towards the $125 level.

DOGE is consolidating around the $0.150 level. On the upside, it is facing resistance near the $0.165 level. A clear move above $0.165 may set the pace for a move towards $0.172.

XRP price tested the $0.732 level before recovering a few pips. It is now consolidating above the level of 0.75 USD. The first major resistance is near the $0.78 level, which could test above $0.80.

Other Cryptocurrency Market Today

Several altcoins are up 5%, including ATOM, ONE, QNT, MANA, ZEC, FXS, OSMO and JEWEL. Among these, ATOM leads the market, jumping 20% ​​in one day and breaking the $43 level. The price is up 44% in a week.

In short, Bitcoin is struggling to recover towards the $43,000 level. If BTC fails to stay above $40,000, there may be a stronger decline in the coming days.

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