Bitcoin and Ethereum Move Below Key Hurdles, HNT Rallies
Bitcoin price failed on a couple of occasions to settle above the USD 40,000 resistance. BTC started a downside correction and it traded below USD 38,000 (05:00 UTC).
Similarly, most major altcoins are stuck in a range and are showing signs of weakness. ETH is facing an uphill task near the USD 2,850 and USD 3,000 resistance levels. XRP/USD fails again to gain pace for a push above the USD 1.10 resistance zone.
Total market capitalization
After another failed attempt near USD 40,000, bitcoin price started a fresh decline. BTC broke the USD 38,000 support level, but the price is still holding the USD 37,200 and USD 37,000 support levels. If there is a clear break below USD 37,000, the price might slide towards the USD 35,000 level.
On the upside, an initial resistance is near the USD 39,200 level. The main resistance is still near the USD 40,000 level, followed by USD 40,500.
Ethereum price faced a strong selling interest near the USD 2,850 level. As a result, ETH corrected lower and it broke the USD 2,700 level. The main breakdown support near USD 2,650 is still intact, below which the price could decline heavily.
On the upside, the USD 2,750 level is a short-term resistance. The first major resistance is near USD 2,850, above which the price could test the USD 3,000 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is holding gains above the USD 350 support level. BNB gained pace, but it failed to settle above USD 385. If the bulls make another attempt and they succeed, the price could surge above the USD 400 level.
Litecoin (LTC) climbed above the USD 200 level, but it failed to continue higher. It corrected lower and traded below USD 190. The first major support is near USD 180, below which the price might test USD 165.
Dogecoin (DOGE) dropped below the USD 0.340 level and it could revisit USD 0.300. A successful daily close above the USD 0.350 level could open the doors for a move towards the USD 0.380 level. The next major stop for the bulls might be USD 0.400.
XRP price failed to clear the USD 1.05 resistance level and it corrected below USD 0.95. The bulls need to clear the key USD 1.10 resistance zone for a sustained upward move.
Other altcoins market today
Many altcoins started to correct their gains today, including HNT, BAKE, TFUEL, THETA, RUNE, DOT, LPT, UNI, KSM, MDX, and DCR. Out of these, HNT surged 30% and it cleared the USD 18 level.
Overall, bitcoin price is stuck below the USD 40,000 and USD 40,500 resistance levels. If BTC continues to struggle, there could be a fresh decline towards the USD 35,000 level.