Bitcoin and Ethereum Keep Trending Lower, APE and GMT Outperform

cryptonews.com:

Bitcoin price failed to recover above the USD 40,500 resistance zone and started a fresh decline below USD 40,000. It is currently (04:10 UTC) showing bearish signs near USD 39,250 and might extend losses below the USD 38,800 support zone. BTC is down almost 2% in a day and over 1% in a week.

Similarly, most major altcoins are facing an increase in selling pressure. ETH declined below the USD 2,920 support zone. XRP broke the USD 0.70 support to move further into a bearish zone. ADA is approaching the USD 0.85 support zone.

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After a failed attempt near USD 40,000, bitcoin price faced an increase in selling interest. BTC traded below the USD 40,000 support zone. It even broke the USD 39,200 support zone. If the bears remain in action, the price may perhaps drop below the USD 38,800 support zone. The next major support is near USD 38,000, below which the price might test USD 37,200.

An immediate resistance on the upside is near the USD 39,550 level. The main weekly resistance seems to be forming near the USD 40,000 zone, above which the price may perhaps start a fresh increase.

Ethereum price settled below the USD 3,000 pivot level. ETH even traded below the USD 2,920 support zone to move into a bearish zone. It is now consolidating near the USD 2,850 level and is down 3% in a day and 4% in a week. The next major support is near the USD 2,780 level, below which there is a risk of a sharper decline.

On the upside, the USD 2,920 level might present resistance. The main weekly resistance might be near the USD 3,000 level. 

Cardano (ADA) dropped below the USD 0.90 support zone. The price even traded below USD 0.865 before recovering, but the bears might still aim for a move below the USD 0.85 support zone.

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