Bitcoin and Ethereum Fail Near Crucial Juncture, NEXO Rallies

cryptonews.com:

Bitcoin price spiked above USD 40,000, but there was no upside continuation. It is currently (11:49 UTC) trimming gains and trading below USD 38,900. BTC is down 2% in a day and more than 3% in a week.

Similarly, most major altcoins are trimming gains. ETH declined heavily after it failed to test the USD 3,000 resistance. XRP is down over 4% and approaching the USD 0.60 support. ADA tested the key USD 0.805 support zone.

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After a clear move above USD 39,500, bitcoin price extended increase. The price even climbed above the USD 39,800 resistance. The bulls pushed the price above USD 40,000, but they struggled to retain momentum. A high was formed near USD 40,375 and the price reacted to the downside. There was a sharp decline and the price broke the USD 39,200 support. An immediate support is near the 38,500 level. The next major support is near USD 38,000, below which the price might gain bearish momentum.

On the upside, an initial resistance is near the USD 39,500 level. The main resistance is now forming near the USD 40,000 level.

Ethereum price gained strength above the USD 2,920 resistance. ETH even moved above the USD 2,950 level, but the bears appeared near USD 2,980. The price is now moving lower and trading below USD 2,900. ETH is down almost 3% in a day and more than 3% in a week. The next major support is near the USD 2,800 level, below which the price might revisit USD 2,760.

If there is another increase, the price might face resistance near USD 2,920. The next major resistance is now forming near USD 2,980 and USD 3,000.

Cardano (ADA) is gaining bearish momentum below the USD 0.832 level. The price even tested the USD 0.805 support before recovering above USD 0.81. If there are more