Bitcoin and Ethereum Retreat From Key Hurdles, Altcoins Trim Gains
Bitcoin price attempted a recovery wave above the USD 22,000 resistance. BTC even cleared the USD 22,500 level, but the bears were active near USD 23,000. BTC is currently (11:44 UTC) trading near USD 21,200 and is unchanged in a day and down 26% in a week.
Similarly, most major altcoins failed to clear key hurdles. ETH struggled to surpass the key USD 1,250 resistance zone. XRP topped below USD 0.35 and corrected gains. ADA failed to stay above the USD 0.50 pivot level.
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After a clear move above USD 22,000, bitcoin price extended its upward move. BTC climbed above USD 22,500, but the bulls struggled to remain in action. The price failed to surpass the USD 23,000 resistance levels and is now back below USD 21,500. On the downside, an initial support is near the USD 20,500 level. The next major support is near the USD 20,000 zone, below which the price could accelerate its decline.
On the upside, an immediate hurdle is near the USD 22,000 level. The next major resistance is near the USD 23,000 and USD 23,200 levels.
Ethereum price also attempted a recovery wave above the USD 1,150 resistance. ETH climbed above the USD 1,200 level but faced a major hurdle near USD 1,250. It is now back below USD 1,150 and might test the USD 1,050 support. The next major support is near USD 1,000. ETH is unchanged in a day and down 32% in a week.
On the upside, the price is now facing resistance near the USD 1,180 level, above which the bulls could attempt a move towards the USD 1,250 hurdle.
Cardano (ADA) gained pace above the USD 0.50 resistance. However, it failed to surpass the USD 0.55 resistance level. The price is back below the USD 0.50 level and might revisit the USD 0.48 support zone.
BNB struggled to clear the
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