Bitcoin and Ethereum Trim Gains, RUNE and WAVES Rally

Bitcoin price is correcting gains from USD 42,500.Ethereum failed above USD 2,750 and corrected lower, XRP settled near USD 0.75.WAVES surged 34% while RUNE rallied 22%.

Bitcoin price struggled to clear the USD 42,500 resistance and is currently (04:20 UTC) correcting gains near USD 40,700, while a major support is near the USD 40,000 zone.

Similarly, most major altcoins are also moving lower. ETH failed to stay above USD 2,750 and corrected near USD 2,650. XRP outperformed many major coins and settled near USD 0.75. ADA failed to stay above the USD 0.85 pivot level.

Total market capitalization

Bitcoin price

After a steady increase, bitcoin price faced sellers near the USD 42,500 zone and declined below the USD 41,200 level. The next key support is near the USD 40,200 and USD 40,000 levels, below which the price may perhaps decline to USD 39,500.

On the upside, the price might face resistance near the USD 41,200 level. The next major resistance is near the USD 41,500 level, above which the price might retest USD 42,500.

Ethereum price

Ethereum price spiked above the USD 2,750 level, but there was no successful close. ETH is now correcting gains and testing the USD 2,650 support, below which the price might revisit USD 2,550.

If there is a fresh increase, the price could clear USD 2,720. However, a clear move above USD 2,750 is needed for a stronger increase. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) was able to climb above the USD 0.850 resistance zone, but there was no upside continuation. The price is correcting gains below USD 0.82. Any more losses could send the price towards USD 0.80.

BNB spiked above the USD 395 resistance level and tested the USD 400 barrier. The price is correcting gains and it broke the USD 385 support, risking to slide to USD 375.

Solana (SOL) failed to clear the USD 90 level and dropped below the USD 85 level. If there are additional losses, the price may perhaps decline towards the USD 80 level.

DOGE gained pace above the USD 0.122 level, but it failed to surpass USD 0.125. There was a fresh bearish reaction and the price declined below USD 0.120. The next major support on the downside is near the USD 0.115 level.

XRP price remained well bid above the USD 0.75 resistance level. It even spiked to test USD 0.78 before moving towards USD 75 again. XRP is up 1% in a day and down 1% in a week.

Other altcoins market today

Many altcoins are down over 5%, including AVAX, TRX, NEXO, LRC, HNT, GRT, FTM, and XMR. Meanwhile, RUNE erased all its weekly losses as it rallied 22% in a day and surpassed the USD 5 level. WAVES is once again the best performer among the top 100 coins. It rallied 38% in a day, surpassed USD 30, and increased its weekly gains to 61%.

Overall, bitcoin price is correcting gains from the USD 42,500 zone. BTC might drop more, but the bulls could remain active near the USD 40,000 support zone.

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