Bitcoin and Ethereum struggle, Altcoins correct lower

price of bitcoin has stabilized well below the pivot level of $ 40,000. BTC even broke the $ 39,200 support level and extended its decline. Currently (04:26 UTC) it is showing bearish signals and may continue to fall below $ 38,000.

Likewise, most of the major altcoins are struggling to gain traction. ETH fell below $ 2,550 and could even trade below $ 2,500. XRP has failed to sustain above $ 0.750 and may revisit $ 0.700.

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Bitcoin price

After a drop close to $ 40,500 yesterday, the price of bitcoin has started a new decline. BTC broke the key support level of $ 40,000 to enter a bearish zone. It is moving lower and has even broken the support at $ 39,200. Immediate support is near $ 38,500, followed by $ 38,000. Any further losses could drive the price towards the $ 37,000 support. On the upside, the $ 39,200 level represents short-term resistance. first key resistance is now near $ 40,000, above which there is the possibility of a steady rise.

Ethereum Price

Ethereum price struggled to gain a pace above the $ 2,650 level. ETH initiated a further downward correction and traded below $ 2,600. It even broke $ 2,550 and is now struggling to stay above $ 2,600. USD 2,500. Any further losses could open the door for a further correction to $ 2,350. On the upside, an immediate barrier is near the $ 2,600 level. A close above $ 2,600 could increase the chances of a further move towards $ 2,700.

Read also Ethereum (ETH) and Solana (SOL) are the best options for investors!

ADA, LTC, DOGE and XRP price

Cardano (ADA) was down 2% and broke the support level of $ 1.30. It seems that the price will soon test the support level of $ 1.25. If the bulls fail to protect at $ 1.25, the price could fall towards the $ 1.20 level. If not, it could rally past $ 1.32. Litecoin (LTC) topped $ 150 and trimmed most of the gains. It is now trading just below $ 140 and may continue to decline. first key support is near $ 135. A break to the downside below $ 135 could initiate a major decline in the near term. Dogecoin (DOGE) could accelerate below the $ 0.200 support. next big support is near $ 0.180. Any further losses could set the pace for a test of $ 0.165. Rather, the price must break above $ 0.220 for a further increase. XRP price failed to stay above the $ 0.750 level and began a downward correction. It is testing the support at $ 0.720, below which it could test the support at $ 0.700. If the bulls fight near $ 0.700, there is a risk of a move towards $ 0.650.

Another altcoin market today

Some altcoins made more than 5%, including VGX, RUNE, STX, EGLD, ANKR, LINK, LUNA, GRT, and XTZ. Of these, STX rallied 22% and broke the $ 1.50 level.

Overall, the bitcoin price struggles to stay above the $ 38,500 and $ 38,000 support levels. A close below $ 38,000 could initiate a significant decline in the short term ._____

Read also Remitano launches the RENEC token

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