Bitcoin and Ethereum Respond To Key Support Levels

• Bitcoin price fell sharply, testing the key support region of USD 40,000.
• Ethereum tested the $ 2,800 support and rebounded, with XRP settling below $ 1.00.
• OMG gained over 20% and exceeded the USD 10.00 level.

Bitcoin price extended its decline below the $ 43,500 support level. BTC even broke the $ 42,000 support and traded nearly $ 40,000. Currently (04:26 UTC) it is recovering from the losses, but the bears are keeping the price below $ 43,000.

Most of the major altcoins also fell sharply. ETH fell below the USD 3,200 and USD 3,000 support levels. XRP was down almost 4% and even tested the support zone of $ 0.880. ADA climbed below USD 2.00 before correcting higher.

Total market capitalization

Source: https://www.tradingview.com

Bitcoin price

Bitcoin price gained bearish momentum after closing below $ 45,000. BTC traded below the USD 43,200 and USD 42,000 support levels. The price even traded below $ 41,200 before the bulls surfaced near $ 40,200 and pushed the price back above the $ 42,000 mark. The bulls are now facing hurdles near the $ 43,000 mark. The next major resistance could be at $ 43,500.

On the flip side, immediate support is near $ 42,000. The first major support is at $ 41,200, below which the price could test the main support at $ 40,000.

Ethereum price

Ethereum price also followed a similar pattern, falling well below $ 3,200. ETH even plunged below the USD 3,000 and USD 2,980 support levels. However, the bulls defended the USD 2,800 support zone.

The price is now rebounding higher and trying to close above $ 3,000. The next major resistance is at $ 3,120, above which the price could begin a steady upward move.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) has fallen well below the USD 2.20 support. It even climbed below the $ 2.00 mark, but the disadvantages were limited. The price is now recovering and trading near USD 2.10. The main hurdle for the bulls is now forming at $ 2.20. If it declines further, the bulls could struggle to protect $ 2.00.

Litecoin (LTC) extended its decline below the USD 160 and USD 155 support levels. It tested USD 150 but was able to correct back up. The price is trading at $ 160 and could face resistance at $ 165. On the downside, the $ 150 level is a strong support.

Dogecoin (DOGE) fell sharply below $ 0.212 and $ 0.205. It tested the $ 0.199 level where the bulls took a stand. The price is back above $ 0.205 but needs to break through $ 0.212 to continue rising in the short term. The next major resistance is near $ 0.220.

The XRP price fell nearly 4% and settled below the $ 1.00 level. The price was trading below $ 0.950 and $ 0.920. It tested USD 0.865 and climbed back above USD 0.920. To get back into a positive zone, the price has to settle above the USD 1.00 resistance.

Different Altcoins Market Today

Many altcoins are down over 10%, including NEAR, AUDIO, FTM, ATOM, CRV, BSV, KSM, HT, RUNE, CAKE, XTZ, MANA, and ICP. Of these, NEAR was down 18% to trade below $ 8.00. Meanwhile, OMG rebounded 20% and is rising towards $ 11.

Overall, Bitcoin price fell sharply and tested the USD 40,000 support zone. BTC is now bouncing back but needs to level off above $ 43,500 to continue rising in the upcoming sessions.

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source https://www.bisayanews.com/2021/09/21/bitcoin-and-ethereum-respond-to-key-support-levels/