Bitcoin and Ethereum Struggle to Recover, SHIB Trims Gains
Bitcoin price attempted a recovery wave above the USD 40,500 level. However, BTC struggled to gain strength for a clear move. It is currently (11:51 UTC) trading near USD 39,900 and remains at risk of more downsides below USD 39,500.
Similarly, most major altcoins are struggling to start a steady recovery. ETH failed near USD 3,080 and might decline below USD 3,000. XRP is struggling to stay above the USD 0.70 level. ADA is still consolidating near the USD 0.95 level.
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Recently, bitcoin price corrected higher above the USD 40,500 level. However, BTC struggled to continue higher and trimmed gains. There was a move below the USD 40,200 level and it seems like the price may perhaps revisit the USD 39,500 support zone. The next major support is near USD 39,200, below which the price could start a stronger decline. BTC is now down 1% in a day and 12% in a week.
On the upside, an immediate resistance is near the USD 40,500 level. The next key resistance is near the USD 41,200 level, above which the price could start a steady increase.
Ethereum price made an attempt to test the USD 3,100 level. However, ETH struggled above USD 3,080. As a result, there was a minor bearish reaction below USD 3,050. If the bears remain in action, the price might slide below the USD 3,000 level. The next major support is near the USD 2,950 level, where the bulls may possibly appear. ETH is unchanged in a day and is down 11% in a week.
On the upside, the price is facing resistance near USD 3,100. The next key resistance might be near the USD 3,120 level, above which the price could rise to USD 3,150.
Cardano (ADA) is still trading above the USD 0.92 support level. It is now consolidating near USD 0.95. The first key resistance
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