Bitcoin and Ethereum Still Range-Bound, ADA Keeps Diving, FTT Rallies
Bitcoin price remained in a bearish zone below the USD 42,000 level. BTC even traded close to USD 41,000 before correcting higher. It is currently (04:18 UTC) trading near USD 42,000, but there is a crucial resistance forming near USD 42,500.
Similarly, most major altcoins are facing hurdles. ETH must clear USD 3,200 to start a steady recovery. XRP stayed above the USD 0.72 support level. ADA is facing an increase in selling pressure below USD 1.40.
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After a break below USD 42,000, bitcoin price extended decline. BTC even traded below the USD 41,200 zone, but downsides were limited. It is now recovering and trading above near USD 42,000. An immediate resistance is near the USD 42,200 level. The next major resistance is near USD 42,500, above which the price might start a steady increase.
On the downside, an initial support is near the USD 41,250 level. The next major support is near USD 40,500, below which there is a risk of more losses.
Ethereum price also briefly declined below the USD 3,100 level. ETH tested USD 3,050 and recovered higher. On the upside, an immediate resistance is near USD 3,180. The next key resistance is near USD 3,200, above which the price might start a stronger upward move.
An initial support is near the USD 3,050 level. The main support is near USD 3,000, below which the bears might aim for a larger decline.
Cardano (ADA) trimmed most of its gains and settled below the USD 1.40 level. It is down 7% and trading near USD 1.35, trimming its weekly gains to less than 4%. ADA is now down 16% from its weekly high of 1.61. The next major support is near USD 1.32. Any more losses could send the price towards USD 1.265.
Binance coin (BNB) is attempting an upside break above the USD 472
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