Cryptocurrency market February 21, 2022: Bitcoin price remains in negative territory and falls below $40,000. BTC even traded below $38,800 and tested $38,000. As of 04:21 UTC, BTC is correcting losses above $39,000, but the bears could remain active near $40,000.
Similarly, most of the major altcoins are facing setbacks. ETH fell below the $2,650 support before recovering. XRP is still trading below $0.80. ADA tested $0.92 before correcting higher.
Cryptocurrency Market February 21, 2022: Bitcoin Price
After falling below $41,200, bitcoin price extended its losses. BTC broke the critical support at $40,000 and even fell below $38,800. It tested $38,000 and surged above $3,9000 today. BTC is currently facing resistance near $39,200. The main weekly resistance is near $40,000, above which a rally to $41,200 is possible.
On the upside, the $38,200 level is the short-term support. The next key support is near $37,500, below which a drop to $36,500 is possible.
Cryptocurrency market February 21, 2022: Ethereum price
Ethereum price accelerated below the $2,800 support area and quickly climbed below $2,600. It is currently correcting higher and trading above $2,700. Immediate resistance is near $2,750. The next key resistance is near the $2,880 region, above which the price could test $3,000.
If there is a renewed decline, the price can test $2,650. The next key support is near the $2,600 and $2,550 levels.
Cryptocurrency Market February 21, 2022: ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) gained bearish momentum below the $0.95 support. It even dropped below $0.925 and tested the $0.92 support area. The price is currently recovering, but the bears can work near $1.00.
BNB fell below the $385 support area and tested $375. It is currently correcting losses, with immediate resistance at 392. Key weekly resistance currently stands at $400.
Solana (SOL) is up nearly 7% and has a sharp move above $92 that erased all weekly losses. The main breakout zone is near the $100 level, above which the bulls can test $112.
DOGE broke the critical $0.140 support and tested $0.135. If there is a recovery wave, the price might face resistance near $0.145. On the upside, the $0.135 level is a strong support.
XRP price fell below the $0.80 support. It even tested the $0.765 support and is currently correcting higher. However, a clear move above $0.80 is a must for steady gains.
Cryptocurrency Market February 21, 2022: Another altcoin market
Several altcoins are in the green, including LUNA, SHIB, ATOM, LEO, MANA, AXS, ZEC, and QNT. Of these, QNT rallied more than 10% and broke $115, cutting its weekly loss to 2%.
Overall, bitcoin price is showing signs of falling below the $40,000 support. BTC could extend losses if bulls fail to push the price above $40,000.
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