Bitcoin and Ethereum Correct Gains, APE Crashes 40%
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
After a failed attempt to clear the USD 42,250 resistance, bitcoin price started a downside correction. It is now trading below USD 41,000 and might continue to move lower towards USD 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 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.
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 USD 0.90 and might decline towards the USD 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
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