Bitcoin tried but failed to stay over the resistance of $38,000. Also Ethereum (ETH) fought to even go near $2,650, XRP went below $ 0.60, LUNA, AVAX, MATIC are down to 8% – 12%. Even though Bitcoin (BTC) tried very hard to stay above $38,000, the resistance zone failed and went even below $37,000 in a matter of a few hours. Right now, it is trying to recover from this fall.
Every other major altcoin is moving slower than usual and trying its best to stay above the resistance level.
After the refutation of going over $38,000, Bitcoin (BTC) price started a downside adjustment. The instant support would be around $36,500 level. The following vital support should be around $36,000, and anything below this will accelerate the price even lower.
Ethereum (ETH) also cracked before reaching the resistance zone of $2,650. Ethereum began to downsize below the mark of $2,600. Currently, it is trading close to the $2,500 level. The following vital support should be around $2,450 and if it goes below this, the price reset to $2,320. And if by any chance there is an increase, the price could meet the resistance level of $2,600. Currently, the weekly head resistance is close to $2,650.
Luna and Other Altcoins
Numerous altcoins went below the 5% level, including LUNA, MATIC, AVAX, DOT, UI, NEAR, XLM, HBAR, SHIB, FTM, etc. LUNA went down to almost 13% and is currently trading below the price of $45 and it is even down by 37% within a week.