Bitcoin and Ethereum Approach Crucial Juncture, Altcoins Move Lower

cryptonews.com:

Bitcoin price struggled to clear the USD 23,000 resistance level and dropped below USD 21,200. It is currently (04:09 UTC) showing bearish signs near USD 20,400 and is down 8% in a day and 32% in a week.

Similarly, most major altcoins are also moving lower. ETH is trading below the key USD 1,150 pivot level. XRP is consolidating near USD 0.320. ADA is down 7% and trading near USD 0.48.

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After an upside correction, bitcoin price struggled to surpass the USD 23,000 and USD 23,200 resistance levels. A high was formed near USD 23,000 and the price started a fresh decline below the USD 21,200 level. On the downside, an initial support is near the USD 20,250 level. The next major support is near the USD 20,000 zone, below which the price could decline heavily.

On the upside, the first key resistance is near the USD 21,200 level. The next major resistance is near the USD 22,000 level, above which the price might revisit USD 23,000.

Ethereum price also struggled to clear the USD 1,250 resistance. ETH started a fresh decline below the USD 1,200 and USD 1,150 levels. It is now trading near the USD 1,070 level, with an immediate support at USD 1,040. ETH is down almost 12% in a day and 40% in a week. The next major support is near USD 1,000, below which the bears might aim for another sharp drop.

On the upside, the price is facing resistance near the USD 1,120 level. The next major resistance is near USD 1,150, above which the price could revisit the USD 1,250 level. 

Cardano (ADA) started a fresh decline below the USD 0.50 support. The price even traded below the USD 0.48 level before recovering. If the bears remain in action, the price could even test USD 0.45.

BNB settled below the USD 220 pivot level. It