Bitcoin and Ethereum Struggle to Recover Higher, DOGE Dives, APE Gains
Bitcoin price formed a base above the USD 38,000 level and recovered above the USD 38,700 level. It is currently (12:03 PM UTC) trading around USD 39,000 and is facing a strong resistance near USD 39,200. BTC is down almost 4% in a day and 6% in a week.
Similarly, most major altcoins are facing hurdles. ETH recovered above USD 2,850 but is struggling near USD 2,920. XRP is consolidating losses near the USD 0.65 support. ADA is hovering below USD 0.85.
Total market capitalization
After a sharp decline, bitcoin price managed to settle above the USD 38,000 level. BTC started an upside correction and moved above the USD 38,700 resistance. It is now facing resistance near the USD 39,200 level. The next major resistance might be USD 39,500, above which the price may perhaps start a steady increase. In this case, the bears might attempt a move above the USD 40,000 level.
On the downside, an initial support is near the 38,200 level. The next major support is near USD 38,000, below which the price might face an increase in selling pressure.
Ethereum price is moving higher above the USD 2,850 resistance but is still down 4% in a day and almost 7% in a week. An immediate resistance is seen near the USD 2,920 level. The next major resistance is near the USD 2,950 level, above which the price may perhaps revisit USD 3,000.
On the downside, an initial support is near the USD 2,840 level. The next major support is near the USD 2,800 level, below which the price could drop to USD 2,720.
Cardano (ADA) spiked below the USD 0.820 support zone. However, there was no test of the USD 0.805 support. The price is recovering and might climb above USD 0.865. The next key resistance is near USD 0.880.
BNB found support near the USD 380 level and is now
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