Wed. Aug 10th, 2022
  • Bitcoin price is moving lower below USD 40,000.
  • Ethereum is struggling near USD 3,000, XRP dropped below USD 0.75.
  • DCR gained over 30% and moved above USD 70.

Bitcoin price remained in a range below the USD 41,200 resistance zone. BTC is currently (04:27 UTC) moving lower and trading below USD 39,500. If the bears remain in action, the price could drop to USD 39,000. It’s now down almost 3% in a day and 7% in a week.

Similarly, most major altcoins are also moving lower. ETH declined below USD 2,950 and is now down almost 4% in a day and 8% in a week. XRP is struggling to stay above the USD 0.720 support zone while ADA is testing the USD 0.90 support zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After another rejection above USD 40,800, bitcoin price started a fresh decline, moved below the USD 40,000 pivot level, and broke the USD 39,500 support level. The key weekly support is near USD 39,200, below which the price might gain bearish momentum.

An immediate resistance on the upside is near the USD 40,500 level. The main weekly resistance is now forming near the USD 41,200 level, above which the price could accelerate higher.

Ethereum price

Ethereum price also struggled to clear the USD 3,120 pivot level and broke the USD 2,950 support, increasing the risks to strengthen its bearish momentum.

If there is an upside correction, the price might face resistance near the USD 3,050 level. The next key resistance might be near the USD 3,120 level, above which the price could start a stronger increase in the near term.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) remained below the USD 0.98 resistance zone. The price is declining and testing the USD 0.92 support zone. ADA is down 5% in a day.

BNB failed to clear the USD 420 resistance zone and dropped almost 4% in a day. The price is now testing the key USD 400 support.

Solana (SOL) dropped below the USD 100 pivot level. If there is a close below this level, the price could decline even stronger. The next major support is near the USD 92 level.

DOGE declined below the USD 0.142 support level. It is now trading below the USD 0.140 level. The next major support sits near the USD 0.135 level, below which the price could decline to USD 0.132.

XRP price is moving lower below the USD 0.75 level and might test the USD 0.72 support zone. XRP is now down over 5% in a day.

Other altcoins market today

Many altcoins are in the red zone, including LUNA, AVAX, DOT, SHIB, MATIC, LINK, FIL, WAVES, EOS, UNI, BCH, ETC, XLM, and ICP. Out of these, WAVES and FIL are down around 9%. Meanwhile, DCR is the best performer among the top 100 cryptoassets by market capitalization today. It jumped 31% in a day and surpassed USD 74, increasing its weekly gains to 27%.

Overall, bitcoin price is still struggling to clear the USD 41,200 and USD 41,500 resistance levels. If BTC slides below USD 39,200, there could be a sharper bearish reaction.

Leave a Reply

Your email address will not be published.

Pin It on Pinterest