Bitcoin and Ethereum Print Bearish Pattern, WAVES Halves in a Week

 

  • Bitcoin price is showing bearish signs below USD 42,500.
  • Ethereum struggles below USD 3,200, XRP broke the USD 0.75 support.
  • LUNA and CELO are down around 9%, WAVES dropped by 13%.

Bitcoin price failed to clear the USD 43,500 resistance zone and dropped below the USD 42,000 level before recovering. It is currently (04:18 UTC) showing bearish signs near USD 42,170 and remains at a risk of a move towards USD 40,500. BTC is now down almost 2% in a day.

Similarly, most major altcoins are trading in a bearish zone. ETH traded below USD 3,200 and might decline below USD 3,150. It dropped almost 3% in a day. XRP extended decline below the USD 0.75 level, while ADA is struggling to stay above the USD 1.0 support.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a minor recovery wave, bitcoin price struggled to test the USD 43,500 resistance. BTC started a fresh decline and it even broke the USD 42,000 level before going higher again. On the downside, an initial support is near the USD 41,500 level. The next major support is near USD 40,800, below which the price might test USD 40,000.

On the upside, the price could struggle to clear USD 43,000. The main weekly resistance is now forming near the USD 43,500 level, above which the price might start a stronger recovery. For now, BTC is down 9% in a week.

Ethereum price

Ethereum price attempted a clear move above the USD 3,300 resistance but failed. ETH formed a short-term top and started a fresh decline below USD 3,250. The next major support is near the USD 3,150 level, below which the price could decline to USD 3,050.

On the upside, the USD 3,250 level is a short-term hurdle. The key resistance might be near the USD 3,300 level, above which the price may perhaps start a decent increase. ETH dropped almost 10% in a week.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is down more than 3% and is trading near the USD 1.00 support. If there is a downside break and a close below USD 1.00, the bears might aim for a larger decline.

BNB is back below the USD 420 support level and it may soon test the USD 405 level. The next major support is near the USD 400 level, below which there is a risk of a move towards USD 385.

Solana (SOL) traded below the USD 112 support zone. The next major support is near the USD 105 level, below which the bulls might even struggle to protect the USD 100 support zone.

DOGE traded below the USD 0.150 support zone. It is now approaching the USD 0.142 support zone. If the bears remain in action, the price might slide towards the USD 0.135 support.

XRP price remained in a bearish zone below the USD 0.80 level. It even broke the USD 0.75 support level. The next major support is near USD 0.72, below which the price could even revisit USD 0.70.

Other altcoins market today

Many altcoins are down over 5%, including LUNA, AVAX, DOT, WAVES, NEAR, ATOM, LINK, ETC, VET, MANA, ICP, and THETA. Out of these, WAVES is the worst performer among the top 100 coins today as it dropped by almost 13% in a day, breached the USD 23 level, and increased its weekly losses to 52%.

Overall, bitcoin price is showing bearish signs below the USD 42,500 level. If BTC fails to stay above USD 41,500, it might soon test the USD 40,000 support.

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