Member-only story
Bitcoin and Ether Resumption of Decline; Why Could ADA Rally Again?
The price of bitcoin has begun a new slide below $42,000, the price of ether is battling to stay above $3,000, and the price of ADA is trading in a positive zone over $1.40.
Bitcoin
Bitcoin’s price began a new drop after numerous fails over $43,500. Below the $43,000 and $42,000 support levels, there was a definite break. It is constantly falling, and it appears that the price will fall to $41,250.
The next key support is at the $40,400 level, below which a further loss is possible.
If the price begins to rise again, it may encounter resistance at the $42,000 mark. On the hourly chart, the primary breakout zone is currently formed at the $42,400 level, with a connecting bearish trend line.
Etherereum (ETH)
Ether also failed to break over the $3,400 barrier level. Below the $3,300 support level, there was a new negative response. The price fell below the $3,200 support level as well as the 21 simple moving average (H1).
It is gradually falling and approaching the $3,100 support level. The next major support level is about $3,000, below which the bears may try for a bigger slump.
