Bitcoin and Ethereum Fail Near Major Hurdles, ENJ Rallies
Bitcoin price made an attempt to surpass the USD 40,000 resistance. BTC even traded close to USD 41,000, but it failed to stay in the positive zone. It started a downside correction and it is currently (04:25 UTC) trading well below USD 38,000.
Similarly, most major altcoins trimmed gains. ETH topped near the USD 2,900 level and declined below the USD 2,750 support. XRP/USD failed to stay above USD 1.00 and it could revisit USD 0.88.
Total market capitalization
After a decent recovery, bitcoin price failed to stay above the USD 40,000 pivot level. BTC started a downward move and it broke the USD 38,500 support zone. The price even traded below USD 37,500. The next major support is near the USD 36,500 level. Any more losses could lead the price towards the USD 35,000 zone. On the upside, an initial resistance is near the USD 38,500 level. The first major resistance is near the USD 39,200 level, followed by the USD 40,000 pivot level.
Ethereum price failed to test the main USD 3,000 resistance. ETH topped near the USD 2,900 level and it recently started a fresh decline. There was a break below the USD 2,750 support. The price is testing USD 2,650, below which it could test the USD 2,500 support. If there is a fresh increase, the USD 2,750 level might stop gains. The next major resistance is near the USD 2,880 and USD 2,900 levels.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) failed to stay above the USD 385 resistance level. BNB trimmed gains and it traded below the USD 350 support. If there are more losses, the bears might test the USD 320 support zone in the near term.Litecoin (LTC) topped near the USD 200 level and it corrected gains. LTC traded below the USD 185 level and it might soon test USD 175. The next major support on the downside is near the USD 165 level. Conversely, a daily close above USD 200 could open the doors for a strong recovery wave.Dogecoin (DOGE) climbed above the USD 0.350 level, but it struggled near USD 0.365. As a result, there was a bearish reaction and the price tested the USD 0.335 support. If there are more downsides, the bears might test the USD 0.302 and USD 0.300 support levels.XRP price struggled to extend gains above USD 1.05 and it declined below USD 1.00. The price tested the USD 0.920 support level. It seems like there can be more losses towards the USD 0.880 level. On the upside, USD 1.00 is a key pivot zone.
Other altcoins market today
A few altcoins gained over 5%, including ENJ, LPT, STX, NEXO, CHZ, MANA, OMG, and QTUM. Conversely, CHSB, LUNA, KSM, MATIC, SHIB, CAKE, SNX, and SUSHI are down over 8%.
Overall, bitcoin price failed near major hurdles at USD 40,000 and USD 41,000. If BTC continues to move down, the bulls might take a stand near the USD 35,000 zone.