ETH And BTC Keep Failing Near Their Key Hurdles

Republished By Plato

Followers: 0

ETH and BTC keep failing near their key hurdles and Bitcoin price failed to clear the $30,000 resistance while Ethereum topped near $2080 and XRP struggles below the $0.45 price point so let’s read more today in our latest cryptocurrency news.

Bitcoin’s price tried an upside break above the key $30,500 resistance but failed to gain more power for a clear move and corrected lower it is now down by 3% in a day and it is trading near the $29,300 while BTC is also down 2% in the week. Most major altcoins struggled near the clear key hurdles and ETH topped near $2080 and declined below $2000 while XRP could decline sharply if it stats trading below $0.40. ADA failed to stay above the $0.55 price range.

After the move above $30,000, Bitcoin’s price faced many hurdles and BTC struggled to clear the $30,500 and the $30,550 resistance so as a result, there was a fresh bearish reaction below the $30K level. It traded below the $29,500 support which is immediate support near the $28,800 level and the next major support is close to the $28,500 level below which the price can start another decline. The first key resistance is close to the $30,000 and the next key resistance is near the $30,500 above which the price can gain some bullish momentum. The CEO of BitBull Capital Joe DiPasquale added:

“As expected, bitcoin managed to retain the support levels it found last week and even attempted range breakouts. However, USD 31,000 – USD 32,000 remain strong resistance levels that bitcoin needs to successfully breach before we can look toward more upside. Once again, we are yet to see strong buying action, the kind that is typically indicative of a proper reversal, and have plans for both positive and negative price action from here.”

Ethereum’s price followed a similar pattern and failed to gain strength for a move near the $2080 and the $2120 resistance levels. ETH trimmed the gains and dropped below $2000 while it is trading near the $1990 level and is down by 2% in a day and a week. The initial support is close to the $1950 level and the next key support was near the $1920 level below which the price could start a new drop. On the upside, the immediate resistance is close to the $2020 level with the next major resistance being near $2080 above which the price can try to clear $2120.

ADA surged above the $0.55 resistance level but it failed to stay in a positive zone and dropped below $0.52 with the main support being set at $0.50. BNB tried to gain strength above the $332 level but then failed and it is now trading below the $330 and could continue moving towards the $320 support level.

Time Stamp: May 24, 2022