Bitcoin News

Bitcoin and Ethereum at critical junctures; Crisis looming over altcoins

Bitcoin’s price fell as low as USD 37,500 before rising again. Moreover, BTC is now stabilising at USD 38,000 and is experiencing several challenges. The bulls must push the price over USD 39,000 to begin a bigger rally.

Similarly, the majority of big cryptocurrencies are in recovery mode. Unless it clears the USD 2,550 barrier zone, ETH may resume its downward trend. XRP might continue to fall below the USD 0.700 support level.

Bitcoin Report

Bitcoin price found support at USD 37,500 after a continuous drop. BTC appears to be rebounding and stabilising at USD 38,000. The USD 38,500 level is an immediate resistance level on the upswing. The first major resistance level is at USD 39,000, over which the price may surge to the USD 40,000 mark. There might be a new fall if there is no upward break over USD 39,000. The first big support is located at USD 37,500. Near the USD 36,800 level, the next important support is found.

Ethereum Report

The price of Ethereum is likewise moving in a range of about USD 2,500. On the upside, the USD 2,550 level serves as immediate resistance. A closing above USD 2,550 might boost the odds of a long-term uptrend. Near the USD 2,600 mark, the next significant barrier is emerging.

On the negative, the price might be steady, around USD 2,450. Any further losses might push the price down to USD 2,350.

Other Alt Coins

The price of Cardano (ADA) has risen over the USD 1.35 resistance level. Before reducing gains, it tested the USD 1.38 level. Although there was a breach below USD 1.35, the bulls may continue to be active at USD 1.32. On the downside, the next significant support is at the USD 1.30 level.

Litecoin (LTC) has retreated below the pivot level of USD 140. The price is presently edging closer to the USD 135 support level. If there are any more losses, a move towards the USD 130 level is possible. A break over USD 140, on the other hand, may signal the start of a sustained rise towards USD 150.

Dogecoin (DOGE) is battling to stay above the USD 0.200 support level. Near the USD 0.180 level, the first major support exists. If the bulls fail to defend USD 0.180, a decline below USD 0.165 is possible. On the upside, resistance may be found between USD 0.200 and USD 0.205.

The price of XRP is now stabilising above the USD 0.700 support level. However, If the market breaks below USD 0.700 on the negative, it may accelerate below the USD 0.650 support level. The bulls, on the other hand, may try for a new breach over USD 0.750.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.