The Bitcoin price attempted an upward break above the resistance zone of $ 42,250, but failed. BTC has started a downward correction and is currently trading near USD 41,000.
Likewise, most major altcoins are down as well. ETH failed to break above $ 3,000 and fell below $ 2,900. XRP tested $ 0.82 before correcting lower. The ADA could not break above the $ 0.92 key resistance zone.
Total market value
After a failed attempt to break through the resistance at $ 42,250, the Bitcoin price started a downward correction. It now trades just over $ 41,000, but may continue to fall towards $ 40,500. The primary weekly support is close to the $ 40,000 level, below which the price may visit the $ 39,000 support zone again.
If there is a further increase, the price may meet resistance near $ 41,250. The next key resistance is close to the $ 42,250 level, above which the price may gain some bullish momentum.
Ethereum tried to climb above $ 2,950, but encountered strong resistance. ETH is now down and trades below $ 2,900. The next big support is close to the $ 2,800 level, below which the price can test the $ 2,750 support zone.
On the upside, a first resistance can be found near the USD 2,900 level. The next big obstacle is now forming near the $ 2,950 level.
Prices for ADA, BNB, SOL, DOGE and XRP
Cardano (ADA) traded above the $ 0.90 resistance zone. However, it failed to break through the $ 0.92 zone. It is now back below $ 0.90 and may fall towards $ 0.865 support.
Binance Coin (BNB) extended its gains to above the $ 388 resistance level and even broke above the $ 400 threshold. However, it could not hold and the price dropped back to below $ 390.
Solana (SOL) failed to clear the $ 92 resistance zone. If there is a downward break below the support of USD 85, the price may fall. In this case, the SOL may fall towards USD 78.
Dogecoin (DOGE) won terrain above the resistance level of $ 0.120. It traded close to the central $ 0.124 level where the bears appeared. The prize equalizes its winnings and can test the $ 0.118 support zone.
The XRP price broke the $ 0.80 resistance. It faced heavy selling pressure and there was no closing above $ 0.82. The price is now down and approaching the $ 0.788 support zone. Any additional losses could push the price towards $ 0.768.
The other altcoins on the market today
Many altcoins are in the red zone, including AVAX, DOT, SHIB, MATIC, NEAR, LINK, UNI, MANA, ICP, SAND, FTM and MIOTA. Conversely, DASH has risen almost 9% and is trading above $ 110. Meanwhile, the new APE token has now fallen 40% from its peak last Friday as it continues to trend lower and trades close to $ 10. He lost 10% in one day.
Overall, the Bitcoin price is slowly moving away from the $ 42,250 resistance level. BTC may even fall below the $ 40,500 level, but the $ 40,000 support is the key to the next upside.
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