Cryptocurrency Market February 11, 2022: Bitcoin, Ethereum and Major Altcoins are in Decline

Cryptocurrency market Feb 11, 2022 (according to Cryptonew): Bitcoin price climbed above the $45,500 resistance level. However, BTC failed to continue higher and started falling below $44,000. At 04:17 UTC, BTC is trading near $43,200.

Similarly, most of the major altcoins fell as well. ETH is trading below the $3,120 support. XRP fell below the key $0.85 support area. ADA is approaching the $1.12 support level.

Cryptocurrency Market February 11, 2022: Bitcoin Price

After surging above $45,000, bitcoin price even scaled above $45,500 but failed to stay above this zone. As a result, there was a renewed bearish reaction below $44,000. The price has broken below $43,500 while the immediate support is near $43,000. The next key support is near the $42,750 level, below which a stronger decline is likely.

On the upside, initial resistance is near $43,800. The next major resistance is near $44,000, above which a pullback to $45,500 is possible.

Cryptocurrency market February 11, 2022: Ethereum price

Ethereum price failed to sustain above $3,250 again. It dipped below $3,100 and it might further fall to the $3,020 support. The next major support is $3,000, below that a drop to $2,950 is possible.

If there is another rally, the price might face resistance near $3,120. The next key resistance could be near the $3,200 region.

Cryptocurrency Market February 11, 2022: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) has broken below the $1.15 support. It is currently approaching the $1.12 support area. If there are more losses, the bears may test the $1.05 support.

Binance Coin (BNB) is back below $420 and trading near the $412 support. If the bears remain active, a drop below the $400 support is possible. The next major support is near $380.

Solana (SOL) is down 6% and nearing the $102 support. If there is a break below $102 and $100, a steeper decline is possible. In this case, it can test the $85 support.

DOGE is consolidating again near $0.150. A break below $0.150 is possible a drop to $0.132. Conversely, it can rally to the $0.175 resistance level.

XRP price failed again to clear the $0.920 resistance. There was another bearish reaction and this time the price even traded below the $0.85 support. The next major support is at $0.82.

Cryptocurrency Market February 11, 2022: Another altcoin market

Many altcoins are down more than 5%, including LUNA, DOT, SHIB, MATIC, ATOM, LINK, NEAR, UNI, ALGO, LEO, and FTM. In contrast, THETA surged 21% and broke the $4.00 resistance, taking weekly gains up 45%. SLP is up 23% in a day and 232% in a week, breaking through $0.036.

Overall, bitcoin price is struggling below $44,000. If BTC slips below $42,500, there could be further declines towards $41,250 or even $40,000.

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