Bitcoin and Ethereum Reverse Gains, Other Cryptocurrencies Fall


The Bitcoin price failed to surpass USD 22,500 and began a new fall. It is trading at USD 20,500 at the moment (04:10 UTC) and is down more than 3 percent in a day, but still up more than 6 percent in a week.

Similarly, the majority of prominent cryptocurrencies reduced profits. ETH is now trading considerably below the $1,200 mark. XRP is once again trading at USD 0.32. ADA struggles to maintain its position above the USD 0.45 support zone.

After battling to remain over USD 22,000, the price of bitcoin began a new drop. Even below USD 21,000, the market attempted the USD 20,500 support. The next significant support is at the USD 20,000 zone, below which the price might collapse to the USD 19,500 support level.

Near USD 21,200, the price encounters resistance on the upswing. The primary weekly breakout zone is now emerging above USD 22,000, over which the price may begin a gradual ascent.

The price of Ethereum failed to surpass USD 1,250 and dropped. ETH fell below the USD 1,200 support level, challenged the USD 1,150 level, and appears vulnerable to further declines. The ETH price is down 3% in a day and up over 7% in a week. The next significant support is at USD 1,120, below which the price might return to the support zone of USD 1,050.

Near USD 1,200, the price may encounter resistance on the upward. The primary weekly barrier is around $1,250; over this level, the price may acquire positive momentum.

Cardano (ADA) failed to surpass the USD 0.50 resistance and retraced. Currently, it is trading close to the USD 0.45 support zone. Additional losses might bring the price below the USD 0.42 level.

BNB traded lower than USD 235. It is now stalled at the USD 230 level and may fall to the USD 225 level. The next significant support level is USD 220.

Solana (SOL) is down 4% and trading at USD 35 per share. If the USD 35 level is breached, the price may continue to decline toward the USD 32 level.

DOGE has retreated from USD 0.070 and is now stabilising at about USD 0.065. If the price closes below USD 0.065, it is possible for losses to continue.

Also Read: The chairman of Rockefeller International expressed faith in Bitcoin’s return

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