Bitcoin and Ethereum market trends have continued to decline over the past 24 hours. However, the price of some lesser-known pennies on the market has risen by more than 10%.
to the Report Crypto News, Bitcoin’s attempt to cross the $ 46,000 resistance failed. Bitcoin is now starting a new downward trend and is trading below $ 45,000. The market has recently entered a price stabilization phase and there seems to be a risk that the price will fall to the level of $ 42,500.
The main market coins are in a similar situation and face several price barriers. Ethereum sees $ 3,350 and $ 3,400 resistance above its head. The Ripple market is showing bearish signs and the price is below the resistance levels of $ 1.15 and $ 1.20. Cardano also fell 6 percent and lost support at $ 2.50.
Ethereum market situation
Ethereum has started a new downtrend below the $ 3,400 level. Kendall has broken down the $ 3,350 and $ 3,300 support levels and is approaching the $ 3,250 level. If the $ 3,250 support is broken further, the price is likely to fall to the $ 3,000 level.
If the market rises, the first support for buyers will be $ 3,350. A weekly pivot is also forming in the $ 3,500 range. Pivots are the places where the price changes direction or, in other words, the uptrend turns into a downtrend and vice versa.
Market situation of Cardano, Litecoin, Dodge Coin and Ripple
Cardano started an uptrend above $ 2.55 a few days ago, but the jump did not continue. As a result, a new crash occurred in the market and now Cardano is trading at a price below $ 2.55. The next key support is in the range of $ 2.38 and if the downtrend continues, the price is likely to fall to the level of $ 2.20.
The price of LightCoin has been steadily declining and the $ 180 support has recently been broken. The market is currently stabilizing at around $ 175 and the nearest support is at $ 172. Continuing the downtrend could pave the way for further price falls to the $ 165 level.
The Dogecoin trades lower than the Pivot at $ 0.250. The closest support is in the range of $ 0.232 and the main support is in the range of $ 0.220. Breaking this level increases the risk of falling to $ 0.200 in the medium term.
Ripple could not completely break the $ 1.15 resistance and then started a new downtrend. Ripple is currently trading below $ 1.10 and the price is likely to fall to $ 1.05. Key support is in the $ 1.00 range, and breaking this level could lead to further price reductions.
The situation of other market coins
Price of many market coins including Solana, Phantom, Quant, Arweave, Avalanche, OMG Network, Celo, FTT token (Mina), Luna, Revain, Mdex and KuCoin tokens decreased by 5%. On the other hand, the prices of digital currencies Cosmos, Tezos, Polkadot and Harmony have increased by more than 10%.
Overall, Bitcoin is below the $ 45,800 and $ 46,000 resistance levels, and if it fails to stay above the $ 44,000 level, the price is likely to fall further.