Crypto Market March 3, 2022: Bitcoin and Ethereum Fail Near Highs, Major Altcoins Also Corrected Lower

Crypto market March 3, 2022: Bitcoin price attempted a breakout above the $45,000 resistance. BTC surged above $45,200 but faced nearly $45,350 and is now down 2% in one day. At 04:17 UTC, BTC is trading below $43,500 with key support at $43,000.

Similarly, most major altcoins are also facing resistance. ETH is struggling to gain momentum above $3,020 and is down almost 4%. XRP failed near $0.80 and corrected lower. ADA trades below $0.95 and tests $0.92.

Cryptocurrency Market March 3, 2022: Bitcoin Price

After surging above $45,000, bitcoin price faced resistance near $45,350. BTC failed to sustain above $45,000 and corrected lower. There was a move below the $44,200 and $44,000 levels. Immediate support is near the $43,200 level. The next key support is near $43,000, below which a drop to $42,500 is possible.

On the upside, the price is facing resistance near $44,200. The main hurdle remains near the $45,000 level, above which the price might start a stronger rally.

Cryptocurrency Market March 3, 2022: Ethereum Price

Ethereum price tried to close above $3,000 but failed. ETH faces sellers near $3,040 and $3,050. It is currently trading below $3,000 and consolidating. On the upside, initial support is near $2,900. The next key support is near $2,850, below which a drop to $2,750 is possible.

On the upside, the price needs to break the $3,000 resistance to gain momentum. The next pivot level might be near the $3,050 level.

Cryptocurrency Market March 3, 2022: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) started a downside correction and traded below the $0.95 support. It is currently struggling to stay above $0.92. If there is a downside break, the bears can even sink the price below $0.90.

BNB consolidates gains above $400 level. The immediate resistance is near the $412 level. The main resistance remains at $425, above which the price could rally.

Solana (SOL) tested the $105 level where sellers appeared. The price corrected lower and traded below $100. The next major support is $95, below that a test of $88 is possible.

DOGE failed to break the $0.142 resistance. There was a bearish reaction below the $0.135 level. If the bears remain active, a drop below the $0.130 support is possible.

XRP price traded below the $0.78 support. It is currently holding the $0.75 support. A break down to $0.712 is possible.

Cryptocurrency Market March 3, 2022: Another altcoin market

Several altcoins are up more than 4%, including ATOM, FTM, ZEC, CRV, ANC, and ROSE. Of these, ANC is up 19% and is trading above $4.50. Meanwhile, ATOM and ZEC gained about 6% to hit $33 and $126, respectively. ATOM is also up 31% in a week, while ZEC extends gains to 29%.

Overall, bitcoin price is still struggling to break the key resistance at $45,000. If BTC fails to sustain above $43,000, it could start a stronger downside correction in the short-term.

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