• Market Cap: $1,001,968,730,191.22
  • 24h Vol: $73,065,978,026.71
  • BTC Dominance: 40.58%

Bitcoin and Ethereum Struggle to Clear Key Hurdles, CELO and SAND Rally

Published: Thursday, 26th May, 2022 - 06:16
  • Bitcoin price is still struggling to clear USD 30,500.
  • Ethereum is facing hurdles above USD 2,000, XRP is consolidating near USD 0.40.
  • CELO and SAND are up over 10%.

Bitcoin price traded in a range and remained strong above the USD 28,500 support zone. BTC attempted a close above USD 30,000 but struggled. It is currently (04:04 UTC) trading near USD 29,900 and is down 1% in a day and up almost 4% in a week.

Similarly, most major altcoins are trading below important hurdles. ETH is trading below the USD 2,000 resistance zone. XRP is struggling to stay above the USD 0.40 support. ADA could revisit the USD 0.50 support zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

In the past two days, bitcoin price saw range moves above the USD 28,500 support. Recently, BTC attempted a fresh increase above the USD 30,000 and USD 30,200 levels. However, the bulls failed to clear the USD 30,500 resistance. It is now moving lower, with an immediate support at USD 29,500. The next major support is near the USD 29,200 level, below which the price could retest the USD 28,500 support zone.

On the upside, the first key resistance is near USD 30,000. The main hurdle is still near the USD 30,500 level, above which the price could rise steadily.

Ethereum price

Ethereum price also failed to gain strength above the USD 2,000 level. ETH corrected gains and traded below the USD 1,980 level. It is now trading near the USD 1,950 level and is down 3% in a day and up 2% in a week. The next key support is near the USD 1,880 level, below which the price might decline heavily.

On the upside, an immediate resistance is near the USD 1,980 level. The next major resistance is near USD 2,020, above which the price could start a steady increase.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) struggled to clear the USD 0.532 resistance. It is moving lower and trading below USD 0.52. If the bears remain in action, the price could test the USD 0.50 support.

BNB is trimming gains and approaching the USD 325 support. The next major support is near the USD 320 level, below which there is a risk of a move towards the USD 312 level.

Solana (SOL) is down 4% and trading below the USD 50 level. The first major support is near the USD 45 level. A downside break below the USD 42 level may perhaps send the price towards USD 40.

DOGE tested the USD 0.0820 support zone before recovering. However, the price is facing hurdles near the USD 0.0840 and USD 0.0850 levels. A clear move above USD 0.0850 is a must for a fresh increase.

XRP price is still consolidating above the USD 0.40 level. A clear move below the USD 0.40 support might spark a sharper decline. The next major support is near USD 0.365.

Other altcoins market today

A few altcoins are showing positive signs, including TRX, XMR, MANA, XTZ, SAND, LRC, CELO, ENJ, and BORA. CELO jumped 10% and moved above USD 1.50, increasing its weekly gains to 18%, while SAND rallied 13%, surpassed USD 1.45, and is now up 26% in a week.

Overall, bitcoin price is struggling below the USD 30,000 level. If BTC remains below USD 30,000 for a longer time, there is a risk of a sharper bearish wave.

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This post first appeared on: Crypto News

Author: Aayush Jindal
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