Bitcoin’s and Ethereum’s Downtrend on Pause, LUNA and HBAR Rally
Bitcoin price started an upside correction above the USD 37,000 level. BTC even climbed above the USD 38,300 level, but it failed to gain strength and is currently (04:14 UTC) trimming gains near USD 37,900. In either case, it’s up 3% in a day.
Similarly, most major altcoins are facing important hurdles. ETH recovered above USD 2,600 but faces hurdles near USD 2,650. XRP is struggling to clear the USD 0.72 resistance. ADA is facing an uphill task near the USD 0.90 and USD 0.92 levels.
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After a short-term upside correction, bitcoin price faced sellers near the USD 38,300 level. BTC failed to extend gains and started a fresh decline below USD 38,000. The price is now consolidating near the USD 37,900 level. The next key support is near the USD 36,000 level, below which the price might start a fresh decline and could test USD 35,000.
On the upside, the price might continue to struggle above the USD 38,000 level. The next key resistance is near the USD 38,500 level, above which the price might rise to USD 39,500.
Ethereum price started an upside correction from the USD 2,500 support zone and is now up 4% in a day. ETH climbed above the USD 2,600 and USD 2,620 levels. However, it is now facing resistance near the USD 2,650 level. If there is no upside break, the price might decline to USD 2,550. The next key support is near the USD 2,500 zone.
If there is an upside break above USD 2,650, the price might rise to USD 2,750. The next key resistance is near the USD 2,880 zone, above which the price may perhaps test USD 2,950.
Cardano (ADA) started a strong upward move above the USD 0.85 resistance. It gained almost 9% and even spiked above the USD 0.90 resistance. The bears are now protecting more upsides
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