Bitcoin and Ethereum Consolidate Below Key Hurdles, LUNA Pauses
Bitcoin price started an upside correction above the USD 40,000 level. BTC even climbed above USD 40,500, but it failed to gain pace above USD 41,200. It is currently (12:09 PM UTC) consolidating near USD 40,800 and might attempt an upside break above USD 41,200.
Similarly, most major altcoins are facing important hurdles. ETH might face a strong selling interest near USD 3,120. XRP is trading well below the USD 0.80 resistance while ADA is approaching the USD 0.95 resistance zone.
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Recently, bitcoin price saw a decent upward move above the USD 40,000 level. BTC even cleared the USD 40,500 resistance. However, it is facing a strong resistance near the USD 41,200 level. BTC is up over 4% in a day and almost 3% in a week. The next key resistance is near the USD 41,500 level, above which the price could accelerate higher.
If there is no upside break above USD 41,200 or USD 41,500, the price might decline. On the downside, an initial support is near the USD 40,200 level. The next major support is near USD 40,000, below which the price might retest USD 39,200.
Ethereum price gained pace and settled above the USD 3,000 level. ETH is consolidating near the USD 3,050 level and is up over 4% in a day and almost 2% in a week. An immediate resistance is near the USD 3,080 level. The next key resistance is still near the USD 3,120 level, above which the price could accelerate higher towards USD 3,250.
If there is a downside correction, the price might find support near USD 3,000. The next major support is near the USD 2,950 level, where the bulls might take a stand.
Cardano (ADA) is up almost 5% and is approaching the USD 0.95 resistance, above which the price may perhaps start a steady increase. ADA also erased
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