Bitcoin and Ethereum Extend Post-Fed Decline, Altcoins Trim Gains
Bitcoin price attempted a close above the USD 38,000 resistance zone. BTC failed to gain strength after the Fed statements, resulting in a fresh decline below the USD 37,000 level. It is currently (04:17 UTC) trading below USD 36,000 and showing bearish signs.
Similarly, most major altcoins started a fresh decline. ETH topped near USD 2,720 and declined below USD 2,400. XRP failed to stay above USD 0.65 and declined below USD 0.60. ADA is struggling to stay above USD 1.00.
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After a move above USD 37,000, bitcoin price attempted a close above the USD 38,000 resistance zone. However, BTC struggled to remain stable and started a fresh decline. There was a sharp decline below the USD 37,200 and USD 37,000 levels. It even declined below USD 36,000 and tested USD 35,000 before recovering near USD 36,000 again. On the downside, an initial support is near the USD 35,200 level. The next major support is near USD 35,000, below which the price could revisit USD 34,000.
On the upside, the price is facing resistance near the USD 36,200 level. The next major resistance is near USD 37,000, above which the price might rise towards the USD 38,000 hurdle.
Ethereum price spiked above USD 2,700, but there was no upside continuation. ETH started a fresh decline and traded below USD 2,600. There was also a move below USD 2,400. An initial support is near the USD 2,320 level. The next major support is near USD 2,250, below which the price might extend losses.
The first key resistance on the upside is near the USD 2,450 level. The next key resistance is near USD 2,500, above which the price might start a fresh increase.
Cardano (ADA) trimmed gains and traded below the USD 1.04 level. It is now struggling to stay above USD
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